GREEN GROWTH AND POSSIBILITIES OF ITS ENSURING

Abstract

The article identifies selected environmental aspects of ensuring green growth, which are being significantly affected by the ongoing globalisation process and subsequent economic growth accompanied by international trade liberalisation and movement of capital and investments in transforming economies. They represent positive and negative effects, whose extent can be significantly affected by structural changes, environmental policy of state and transnational environmental regulation. In Europe 2020 strategy, the European Union specifies green growth factors whose implementation presupposes the adoption of particular measures at the level of the European Union itself as well as within national economies, aiming at environmental burden reduction. It predominantly concerns the solution of economic growth in relation to its material and energetic demands, structural changes execution as well as the adoption of efficient legislation regarding environmental protection. In this relation, production innovations, changes to implemented technologies and substitutions of production inputs are gaining importance. Increased legislative effectiveness presupposes an increase of economic and environmental efficiency of implemented economic tools, aiming at the strengthening of stimulus and fiscal functions of public finance. Keywwords: environment, environmental policy, positive and negative effects of the globalisation process, environmental policy tools, transnational regulation