ԿԱՅՈՒՆ ՆՈՐԱՄՈՒԾՈՒԹՅՈՒՆՆԵՐ ԵՎ «ԿԱՆԱՉ» ՆԵՐԴՐՈՒՄՆԵՐ՝ ՃԱՆԱՊԱՐՀ ԴԵՊԻ ԷԿՈԼՈԳԻԱՊԵՍ ՊԱՏԱՍԽԱՆԱՏՈՒ ՏՆՏԵՍՈՒԹՅՈՒՆ /SUSTAINABLE INNOVATIONS AND GREEN INVESTMENTS: A PATH TOWARD AN ENVIRONMENTALLY RESPONSIBLE ECONOMY

<jats:p>The study presents a systemic analysis of the interaction between sustainable innovations and green investments, aiming to uncover their role in shaping an environmentally responsible economic model. It outlines the fundamental principles of sustainable innovation ecological efficiency, social responsibility, economic viability, and scalability and identifies key sectors of application, including manufacturing, energy, transportation, and environmental management. The research also explores the institutional structure of green finance mechanisms in Armenia, encompassing international grants, green bonds, banking loans, and public-private partnerships. The analytical foundation relies on data regarding registered investments within the renewable energy sector, which reflect the ongoing development stage of the system. In its final section, the article compares the impacts of four models of sustainable innovation-across economic, environmental, and social dimensions using a qualitative evaluation methodology. The findings suggest that through the application of an integrated and complementary approach, it is possible to develop an innovative development strategy that simultaneously ensures economic growth, environmental sustainability, and social well-being.</jats:p>