ECO-ECONOMIC DECOUPLING UNDER GREEN DEAL POLICY

Abstract

This paper summarizes the arguments and counterarguments within the scientific discussion on promoting green transformation in Ukraine under developing green deal policy. The authors noted that established by European Commission, the "European Green Deal" opens a window of opportunities and provides new threats for the Ukrainian economy. The relevance of this scientific problem is that increasing energy efficiency and increasing the share of renewable energy would enhance economic activity and social welfare in Ukraine. Thus, elaborating on green deal policy would provide economic development without additional environmental pressure. Herewith, eco-economic decoupling ensures the growth of Ukrainian business attractiveness on the EU market. The main purpose of the research is to investigate the Ukrainian potential for economic growth while decreasing CO2 emissions. This study involved the bibliometric analysis of high-quality scientific documents published after announcing the communique "European Green Deal" by the European Commission. Thus, the period of publications covered 2019-2021. The study sample consisted of 284 documents published in the scientific journals indexed by the scientometric database Scopus. The search of documents was conducted by the keyword "green deal" in the titles, abstracts, and keywords fields. Therefore, the systematization of the scientific sources indicates that the scientists investigating the green deal policy focused on different aspects regarding environmental policy, energy efficiency, renewable energy sources, and economic decarbonization, decreasing emission under developing low-carbon technologies, etc. The research empirically confirms and theoretically proves that green transformation could enhance the economic growth and expansion into new markets under EU restrictions concerning the eco-friendliness in business activity and production. Besides, the effective green deal policy would increase employability, contribute to the implementation of energy-efficient technologies, boost research and development activity, and increase business performance through the rational use of energy, resources, emission reduction, etc. The results of this research could be considered as the foundation for further research concerning investigating the components of the green deal policy.