Global trends in the development of a sustainable bioeconomy for rural growth in Ukraine

Abstract

Growing global environmental problems are forcing humanity to think about transforming the basic principles of doing business, as the traditional economic order leads to an increase in the volume of pollutant and greenhouse gas emissions into the atmosphere, excessive depletion of the main types of fossil fuels, and considerable accumulation of industrial and household waste. In these circumstances, the alternative is to use low-carbon energy sources, which will minimise destructive environmental impacts. Therefore, the purpose of this study was to substantiate the theoretical and methodological foundations of bioeconomic activity and practical recommendations for the development of a sustainable bioeconomy in Ukraine. To fulfil this purpose, the study employed general scientific and special methods of theoretical and empirical research, specifically, at the theoretical level, the methods of theoretical generalisation, abstract-logical, hypothetical, historical, methods of ascent from the abstract to the concrete, etc. The empirical level includes comparative, descriptive, SWOT strategic analysis, graphs, and tables. Using the methods outlined in the historical retrospective study, the study monitored the volume of greenhouse gas and pollutant emissions into the atmosphere due to the considerable use of fossil fuels, which provokes an increase in global environmental problems in society. Under these conditions, sustainable economic activity is gaining popularity, allowing for the production of renewable energy from renewable resources, agricultural, forestry and fishery residues, as well as organic industrial and household waste. The study outlined foreign practices and Ukrainian initiatives to promote bioeconomic activity, considering the country’s natural resource and intellectual potential, as well as financial national support for the bioindustry. Considering the findings of the study, the strengths and weaknesses of the sustainable bioeconomy were systematised using SWOT analysis, key threats to its formation in Ukraine were foreseen, and constructive opportunities for its development were identified. The practical value of this study lies in the scientific substantiation of proposals for promising strategic guidelines for the development of a sustainable bioeconomy with strengthening its capabilities and finding ways to minimise the destructive impact of key threats