The idea of smart villages, though arising from the smart cities concept, seems to influence the rural reality as well, and this may, among others, be the effect of urban–rural partnerships. The smartness of villages, as it is significantly related to the innovative concepts in rural regions, refers to the innovative solutions which, in order to be implemented, need to go beyond the rural authorities and engagement of rural stakeholders. The main objective of the manuscript is to assess the role of partners from urban centers in the concepts of local development of rural areas in order to find the potential for future cooperation. As such, the evidence is based on the initiatives from three different agricultural regions located in Southern Poland, where engaged local stakeholders have commenced innovative activities. The research has been conducted based on an explanatory multi–case study method. These research findings reveal that despite direct lack of urban participation in the innovative developmental idea’s conceptualization, the need for and presence of urban partners exists, especially when the implementation is concerned. Additionally, the presence of urban support seems to be indirectly perceived by rural leaders, especially as the phenomenon of adaptation to the rural environment for the urban newcomer is recognized by the rural residents. The need for support from cities is first of all recognized in the following areas: content, obtaining financial resources for the implementation of projects developed by them, and choosing an appropriate organizational and legal form of implemented initiatives.

Increase in convergence of the European Union countries has been focal for the European Union leaders, from the very beginning. The aim of the study is to examine whether any social convergence occurred in the EU-28 from 2010 to 2016, in the context of the implementation of the recommendations and the social policy objectives formulated under the Europe 2020 strategy. This article is based on an overview of the literature on the subject and the statistics of Eurostat. The methods of assessing the effectiveness of objects is DEA and sigma convergence. It is a new approach to convergence measurement based on the assessment of the efficiency diversification of the European Union countries and it has clearly been the value added to the analyses conducted so far. The obtained results in the scope of the estimation of the effectiveness were then compared to the existing results produced with the use of the methods generally recognized and employed in the literature. Conclusions were presented in the final part of the study.

RESEARCH OBJECTIVES: Innovation is a significant factor in socio-economic development, and it is principal in achieving a competitive advantage among enterprises, regions, and countries. The purposes of this paper are: (1) to present, on the basis of the available literature, the essence and metrics of eco-innovation activities in EU countries, (2) to analyze the effectiveness of eco-innovation activities in EU countries using the Data Envelopment Analysis (DEA) method. THE RESEARCH PROBLEM AND METHODS: The research primarily focuses on a review of the recent literature and an analysis of the efficiency of eco-innovation activity using the DEA method. The empirical analysis is based on the Eco-innovation Scoreboard. THE PROCESS OF ARGUMENTATION: The analysis mainly determines the efficiency of eco-innovation. The theoretical basis for the considerations is a diagnosis of the existing state of eco-innovation in EU countries. RESEARCH RESULTS: The results illustrate the efficiency of eco-innovation activity in some EU countries against the backdrop of other EU countries. The analysis of eco-innovation activities and strategies to support them in the EU countries presented in this study is based on a diagnosis of the current state of their economies in this area using the methods of DEA and literature review. The results of this research enable us to draw concrete conclusions on the efficiency of eco-innovation activities. CONCLUSIONS, INNOVATIONS, AND RECOMMENDATIONS: The results of the Eco-innovation Scoreboard for these countries illustrate an inefficient use of materials, water and energy resources, as well as low resource productivity. The gaps in this scope between Central-Eastern and Western EU countries are diminishing, but there are still institutional, legislative, and economic shortcomings in eco-innovation that should be addressed. The analysis indicates the level of eco-innovation development in EU countries, its efficiency, and the potential for supporting activity in this field by these countries. Cele badań: Działalność ekoinnowacyjna stanowi istotny czynnik związany z rozwojem społeczno-gospodarczym i ma zasadnicze znaczenie w osiąganiu przewagi konkurencyjnej przedsiębiorstw, regionów i krajów. Celem artykułu jest:(1) przedstawienie, na podstawie dostępnej literatury, istoty i mierników działalności ekoinnowacyjnej w krajach Unii Europejskiej,(2) analiza efektywności działań ekoinnowacyjnych, szczególnie w krajach Europy Środkowo-Wschodniej, w oparciu o metodę Data Envelopment Analysis (DEA). Problem badawczy i metody: Badania opierają się w szczególności na: przeglądzie najnowszej literatury i analizie efektywności działań ekoinnowacyjnych z wykorzystaniem metody DEA. Analiza empiryczna opiera się na tablicy wyników ekoinnowacji. Proces argumentacji: Analiza obejmuje głównie określenie efektywności w obszarze działalności ekoinnowacyjnej. Podstawą teoretyczną rozważań jest diagnoza istniejącego stanu ekoinnowacji w krajach Europy Środkowo-Wschodniej. Wyniki badań: Uzyskane wyniki ilustrują efektywność działalności ekoinnowacyjnej w krajach Europy Środkowo-Wschodniej na tle innych krajów UE. Przedstawiona w niniejszym opracowaniu analiza działalności ekoinnowacyjnej i strategii jej wspierania w krajach Europy Środkowo-Wschodniej opiera się na diagnozie istniejącego stanu ich gospodarek w tym obszarze z wykorzystaniem metody DEA i przeglądu literatury. Wyniki przeprowadzonych badań pozwalają na wyciągnięcie konkretnych wniosków w zakresie efektywności działalności ekoinnowacyjnej. Wnioski, innowacje, rekomendacje: Wyniki tablicy wyników ekoinnowacji dla tych krajów ilustrują nieefektywne wykorzystanie materiałów, wody i zasobów energetycznych, a także niską produktywność zasobów. Różnice w tym zakresie między krajami środkowo-wschodniej i zachodniej UE zmniejszają się, ale nadal istnieją niedociągnięcia instytucjonalne, legislacyjne i ekonomiczne w zakresie ekoinnowacji, którymi należy się zająć. Przeprowadzona analiza wskazuje na poziom rozwoju ekoinnowacji w krajach Europy Środkowo-Wschodniej, ich efektywność oraz potencjał wsparcia działań w tym zakresie przez te kraje.

Objective: The aim of this paper is to present ways in which the EU and its member states finance sustainability and what the impact of this different sources of financing is on sustaining the EU’s socioeconomic development. The main purpose of the article is to justify the role of green finance in the process of balancing the socioeconomic development of the European Union, with particular attention to environmental aspects. Research Design & Methods: The study is based on the literature review of green finance, with a particular focus on the functioning of the green economy in the EU countries. Findings: Sustainable financing is defined as investment decisions that include environmental, social, and governance (ESG) factors. Contemporary economic crises may be a stimulus for rebuilding more sustainable economy. Sustainable financing may be also relevant for achieving the EU’s climate and environmental policy goals and for putting the EU’s economy back on the road to recovery. Implications / Recommendations: This article can serve as a basis for financial decision-makers in balancing the socioeconomic development of EU countries, as well as for more extended analyses taking into account new aspects of green finance. Contribution / Value Added: The added value of this study lies primarily in the skillful connecting of four main aspects of green finance activity in EU: (1) presenting chosen – most important, in the author’s opinion – theoretical aspects of green finance, taking into considerations especially the EU; (2) describing examples of some green finance initiatives implemented by the EU in the form of particular programmes; (3) presenting the most important part of the EU’s green financing legislation; (4) showing basic interconnections between green finance and sustainability, and vice versa. Article classification: theoretical/review paper JEL classification: Q50