A New Model of Technological Ownership

Abstract:
Yarygina Irina Head of the Economics and Banking Business Department, Dr., Professor MGIMO University A New Model of Technological Ownership Current global industrial development depends on successful energy production and sensible consumption management. One of the reliable source of energy is hydrogen that helps us to forget about exhaust gases, oilrigs and gasoline depen dence forever. There is no denying the fact that hydrogen becomes a new energy carrier and plays an important role in contemporary hydrogen economy, which, in its turn, depends on research and development infrastructure, as well as on the ways of extracting hydrogen, harmonization of rules of fuel operating procedures and application of reasonable financial mechanisms. In its turn, safe hydrogen pro duction solution contributes to better and safe living existence. Hydrogen helps to reduce the level of carbon emission of manufacturing industries due to the type of its energy production and the usage of low-carbon technologies. Such kind of an approach is considered to be the future of power industry. For this purpose, it is possible to use technologies for carbon dioxide cap ture and storage, as well as water electrolysis, primarily using the energy of nuclear, hydro, wind and solar energy facilities where possible. The contemporary projects of hydrogen production suggest a justified solution of innovative international ini tiatives in its financing. The results of the research, which will be presented, are of an applied nature, aimed at environment protection and safe development of global economy. Management of ecology risks and secure energy production depend on mutual activity and partnership of relevant actors (international public and private institu tions). The key mechanisms of activity in this area are planned to be introduced as a part of the presentation.

Background:
Hydrogen can become a new energy carrier and play an important role in the global hydrogen economy. Risks of innovative green energy development projects depend on mutual activity and partnership. Hydrogen economy depends on R&D infrastructure, ways of extracting hydrogen, harmonization of rules of fuel operat ing procedures and application of reasonable financial mechanisms. Solving the innovative problems of safe hydrogen production, taking into consideration pecu liarities of contemporary development, contribute to the global safe living.

Objective:
According to the research, the public and private sectors, for example, in Rus sia invest yearly about 6 trillion rubles in infrastructure development, including environment protection. However, insurance companies and pension funds have little experience of participating in such kind of projects. As a result, the share in capital investments leaves much to be desired. Investments in infrastructure remain attractive for private funds, but their money is getting into the industry rather slowly. We consider that one of the reasons is the lack of projects, structured under infrastructure bonds, which may secure also hydrogen energy production. Currently, there are about 60 private pension funds, operating in Russia and 36 of them carry out mandatory pension insurance. Private funds in any country may expand the usage of their financial resources in ensuring environmental protec tion, which is directly related to the development of hydrogen economy.

Methods:
The research is based on the methods of comparative analysis, content analy sis and complex analysis. The method of comparative analysis is also used to deter mine the influence of secure energy production on contemporary economy and identify the role of the environment protection on the global background.

Results:
The research proves that allocation of pension reserves and investments are based on the following principles: ensurence the safety, securitization of profitabil ity, divercification of investment portfolios, defining an investment strategy, based on objective criteria that can be quantified, information openness of the process, professional management of the investments. Thus, pension funds may contribute greatly to the the environment protection policy by developing financial instru ments for sustainable development.

Conclusion:
Within the process of secure hydrogen energy production, there are challenges for public institutions to develop non-bank financial intermediaries and help to transform savings to investments. It is important to take the following measures: improve taxation of insurance companies as well as requirements for the structure of the investment portfolio and legislation by creating a unified code of respon sible investments in hydrogen production. It is also important to promote coop eration between insurance and management companies, increase information transparency, clarify the rights of depositors and participants of private investment funds while participating in pension programs. The above mentioned measures contribute to the global sustainable economic growth, environment protection and develop cooperation of the Russian Federation with its economic partners.