Green economy as a condition for sustainable development

Keywords: greening, green financing.

Abstract

The article considers the meaning of the concept of a green economy. The experience of developing a green economy at the interstate level is revealed. The directions of developing the green economy in the world are presented. We define the factors that limit the possibility of the transition of national economies to the green economy model. We establish that a significant impact on the green economy is carried out at the national level. The directions of development of the green economy in Ukraine are highlighted: formation and implementation of the ecological and economic mechanism of sustainable development, which will provide for the establishment of interstate relations for environmental protection; implementation of relevant regulations, rules of doing business; making scientific and technical, investment decisions on greening; creation of a system of ecological innovations; taking into account environmental risk factors and environmental insurance; development of environmentally sound national accounts. Indicators of measuring the green growth of the world (The Global Green Economy Index, Global Cleantech Innovation Index, Global Green Finance Index). To implement the Sustainable Development Goals 2030, we need to direct significant volumes of international financial flows, which are a tool for transition to the green economy, investment processes, and business greening. The main areas and tools of "green" financing used by countries worldwide are considered. The reasons for the slowdown in the formation of the green finance sector in Ukraine are highlighted.

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Published
2021-11-01
How to Cite
Bakulina, O., & Ternopilska, V. (2021). Green economy as a condition for sustainable development. Herald of Kyiv Institute of Business and Technology, 48(2), 39-44. https://doi.org/10.37203/kibit.2021.48.06