Abstract
In the past two years, the idea of a green economy has been widely discussed by not only environmental experts, but also various economic researchers. It is increasingly mentioned by heads of state and finance ministers, as well as in joint statements by the G20 and discussed in the context of sustainable development and fight against environmental damage. The current increase in relevance of the green economy concept is undoubtedly fueled by growing disappointment in the most widespread economic model, as well as the feeling of fatigue generated by the many crises and environmental failures that have been observed during the first two decades of the new century. The transition to a green economy has a solid economic and social justification. Convincing arguments are emerging in favor of doubling the efforts of both the state and the private sector towards to green economy transformation. In this regard, the state is faced with the task of leveling the rules for green products by refusing to provide obsolete subsidies, reforming policies and creating new incentives, strengthening ecological infrastructure and economic mechanisms, redirecting public investment and moving to green public procurement.
Highlights
Over the past decade, humanity has simultaneously experienced several crises: the climate crisis, the crisis of biodiversity, the fuel, food, water, and in recent years the crisis of the financial system and the economy as a whole
A green economy is an economy with low emissions of carbon compounds, efficiently using resources and meeting the interests of the whole society
A well-designed regulatory system can determine rights and create incentives that trigger the transition to a green economy, as well as remove barriers to green investment
Summary
Humanity has simultaneously experienced several crises: the climate crisis, the crisis of biodiversity, the fuel, food, water, and in recent years the crisis of the financial system and the economy as a whole. The likelihood of improved sanitation for more than 2.6 billion people remains low; 884 million people still do not have access to clean drinking water [4]. Together, these crises sharply reduce the ability of humanity to maintain an achieved standard of living throughout the world and achieve the Millennium Development Goals to reduce extreme poverty [5]. These crises sharply reduce the ability of humanity to maintain an achieved standard of living throughout the world and achieve the Millennium Development Goals to reduce extreme poverty [5] They exacerbate persistent social problems associated with job loss, socio-economic insecurity and poverty, and threaten social stability. The causes of these crises differ, there is some fundamental similarity between them, consisting in the irrational distribution of capital
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