Green Economy

Green economy

Priority directions of development of the green economy are: renewable energy sources (including hydropower, biofuel and biomass); energy efficiency; mobility (air quality, emissions and noise); industry (emissions, discharges and waste generation); innovation; environmental impact assessment (EIA) and strategic impact assessment (SIA); management (including institutional arrangements and multilateral environmental agreements) and environmental performance reviews; corporate social responsibility and environmental reporting; extractive industries.

As it was forecasted, in developed countries renewable energy (RES) consumption will increase by about 130% in the period up to 2040, especially due to new renewable sources (sun, wind, etc.), which are expected to almost seven-fold increase. In developing countries, consumption of renewable energy will increase by 80%. Impressive - almost tenfold growth - will demonstrate new RES, which will increase their share in the structure of consumption of RES to 21%.

All the listed priority directions of the green economy development determine the need for state support and regulation of resource efficiency in the context of: the use of natural capital (including the linkage of forestry and agriculture and urbanization processes, land degradation, soil, water resources and biodiversity); efficiency of water resources use in industrial, rural and urban areas; life cycle analysis; the development of green public finance, environmental accounting and auditing; introduction of a sustainable consumption and production model; support of tourism and green logistics.

The importance of the transition to a green economy actualizes the solution of tasks, among which: 1) technological modernization, contributing to the reduction of negative environmental pollution and the depletion of natural resources; 2) increasing the competitiveness of the economy by reducing the dependence on carbon raw materials and its share in the cost of the final product; 3) green (ecological) innovations, which contribute to the technological renewal of a number of technologically advanced industries that have a great multiplier effect; 4) transition to a low-carbon consumption economy, reduction of carbon dependence, which will allow to reduce greenhouse gas emissions more successfully and to combat global climate change ; 5) creation of green jobs (primarily in energy, transport, basic industries, recycling activities); 6) ensuring an optimal balance of market mechanisms and state regulators of the green economy, strengthening the role of environmental (green) financial incentives and taxes; 7) support the development of knowledge (knowledge economy) and environmental education; 8) ensuring environmental sustainability in general, and so on.

The green scenario for the development of the world economy, which provides for an annual investment in appropriate technologies of about $ 1.3 trillion, can achieve a 16% increase in gross real GDP by 2050, per capita GDP by 14% and a 48% % in comparison with the base scenario. The green economy is a new direction in economic science and practice, which substantiates the dependence of economic development on the components of the natural environment. In the scientific direction it is the development of new technologies and industries, the introduction of regulatory frameworks for public administration in the field of nature management. In practical terms - these are activities that create and increase the natural capital of the earth, reduce environmental threats and risks. At the same time, the application of monitoring the process of transition to a green economy through financial and economic indicators will be aimed at creating institutional conditions for the functioning of the green economy by stimulating investments in raising natural capital through innovative methods of state regulation.

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