CHALLENGES AND SCIENTIFIC GUIDELINES OF THE GREEN ECONOMY IN THE CONDITIONS OF SUSTAINABLE DEVELOPMENT

Анотація

Modern global challenges such as climate change, resource depletion, biodiversity degradation,
and social inequality necessitate the adoption of innovative approaches to economic development that
transcend traditional growth paradigms. Within this context, the green economy emerges as a
comprehensive model that integrates economic growth, social justice, and environmental
sustainability, thereby offering a balanced framework for addressing systemic risks while fostering
long-term resilience. Its implementation is increasingly recognized as a crucial pathway for achieving
the United Nations Sustainable Development Goals, particularly in areas related to energy transition,
resource efficiency, and inclusive employment. By aligning environmental imperatives with
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economic incentives, the green economy provides a strategic foundation for reorienting development
trajectories toward sustainability, equity, and global competitiveness.
The purpose of the study is to analyze the conceptual foundations of the green economy and its
connection with the goals of sustainable development, as well as to study global practices and
prospects for further development of the green economy, considering current global trends. We
assume that the implementation of "green" technologies and modernization of the energy sector will
contribute to the coordination of economic growth with environmental and social priorities. The
theoretical basis of the work was the provisions of the theory of sustainable development and the
concept of "green growth", including the provisions of the Agenda 2030 and "green" strategies of
various countries [1].
It has been confirmed that the transition to a green economy is closely related to the reform of
traditional development models. Thus, the need to consider environmental risks was caused by the
crisis of 2008-2009, which laid the foundations of the concept of a "green economy" [2]. In 2015, the
adoption of the Sustainable Development Goals led to the integration of social, economic and
environmental tasks into a single development program. It has been established that the green
economy is becoming a key component of global economic growth in the face of modern
environmental threats. However, this transition faces a number of challenges: in particular, global
environmental risks, the need for radical (and not just gradual) technological changes, "green
capitalism" in the face of uncertain business climate, the role of the state and the optimal combination
of policy instruments, as well as distributive social issues. To solve these problems, it is necessary to
combine technical innovations with adequate political support, and to ensure public and private
financing of investments in "green" projects [2, 4].
Digitalization of the economy contributes significantly to sustainable development. Recent
studies show that the rapid development of the digital economy (artificial intelligence, blockchain,
etc.) stimulates innovation and the development of "green" technologies: it accelerates the exchange
of knowledge in innovation networks, allows companies to use advanced technologies to reduce costs
and modernize production in an environmentally friendly way. In addition, digital technologies
overcome spatial and temporal constraints, integrate production resources and increase their efficient
use, which ensures long-term economic growth and supports sustainable development. At the same
time, digitalization allows for the formation of new approaches to resource management, in particular
through circular economy models, which is an important factor for countries with limited resources.
However, the shortcomings of the digital infrastructure and the inconsistency of the legal environment
remain a problem, which requires further research and improvement of policies [3]. An important
component of the development of a green economy is the formation of an effective system of
environmental regulation that is able to reconcile economic incentives with long-term environmental
priorities. Such instruments include carbon taxes, emissions trading systems, green public
procurement and environmental labelling of products. World experience shows that combining
market instruments with stricter environmental standards promotes faster implementation of
environmentally friendly technologies and increases innovative activity of enterprises. At the same
time, the success of regulatory mechanisms depends on the transparency of state policy, business
access to financing and the level of international coordination, which is especially important in the
context of global environmental threats and the need to achieve climate goals.
One of the most important aspects of the green economy is the energy transition and the related
energy security. The development of renewable energy sources increases the energy independence of
states and reduces greenhouse gas emissions [1]. The analysis has shown that the green economy is
an effective tool for achieving the SDGs, especially in terms of resource conservation, the
development of renewable energy and the creation of "green" jobs [4]. Practices in different countries
indicate a variety of strategies: developed economies focus on technological innovation, energy
efficiency and circular economy, while developing countries focus on ensuring the availability of
clean energy and restoring ecosystems [4]. It has been found that the success of the transition to a
green economy largely depends on public policy, international cooperation and financing of "green"
projects [4]. Scientific guidelines include the search for new political and financial mechanisms to
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stimulate green development. In particular, it is necessary to explore the effective combination of
environmental regulations with economic incentives and assess the impact of "green" investments
and digital technologies on the productivity and innovativeness of the economy [2, 3].
One of the most important aspects of the green economy is the energy transition and the related
energy security. The development of renewable energy sources increases the energy independence of
states and reduces greenhouse gas emissions [1]. The analysis has shown that the green economy is
an effective tool for achieving the SDGs, especially in terms of resource conservation, the
development of renewable energy and the creation of "green" jobs [4]. Practices in different countries
indicate a variety of strategies: developed economies focus on technological innovation, energy
efficiency and circular economy, while developing countries focus on ensuring the availability of
clean energy and restoring ecosystems [4]. It has been found that the success of the transition to a
green economy largely depends on public policy, international cooperation and financing of "green"
projects [4]. Scientific guidelines include the search for new political and financial mechanisms to
stimulate green development. In particular, it is necessary to explore the effective combination of
environmental regulations with economic incentives and assess the impact of "green" investments
and digital technologies on the productivity and innovativeness of the economy [2, 3].