Green Economy in the Paradigm of Sustainable Development

Abstract

The article highlights the conceptual foundations of the transition to a green economy within the framework of the sustainable development paradigm. The emergence of the green economy is linked to worldwide transformative shifts and advancements in science and technology, brought about by the development of new technological systems. The green economy leads to promoting sustainable development and attaining global goals. The author establishes that the concept of “green economy” is a well-established path to balanced development that encourages investment from governments, businesses, and citizens in natural capital (increasing the proportion of protected areas, strengthening forest protection, etc.), resolving energy issues and producing organic food, addressing land management issues, optimizing the allocation of limited resources, and enhancing resource management. The article considers the concept of introduction and development of the green bond market in Ukraine, the purpose of which is to identify the directions and tasks for launching a green bond market, thus allowing to finance the implementation of environmental projects, creating and expanding favorable conditions for the development of such a market, and increasing the investment attractiveness of Ukraine. It is found that ensuring sustainable economic development with high GDP growth rates is possible only through the implementation of non-protectionist policies and the development of power engineering under the most effective scenarios foundational for the formation of profitability scenarios. Implementation of the “green transition” concept in Ukraine is based on the use of scenarios created in the course of coordinated forecasts of economic and energy development. The tools and mechanisms that can ensure successful implementation of the “green transition” concept include compliance with energy efficiency and climate change adaptation requirements and standards during the reconstruction of residential, social, and educational infrastructure and settlements at all stages of recovery.