Transformation Processes in the Context of the Transition to the "Green" Economy, Prospects for Ukraine

Abstract

Over the past few decades the gradual increase in environmental pollution, poverty and the need for energy made it necessary to transform the existing model of the economy. At the end of the 20th century the concept of sustainable development was formed. It included some relevant goals, the achievement of which made it possible to solve major socio-economic problems. The “green economy” is a system of economic relations between the state, economic entities and households arising from the production, distribution, exchange and consumption of goods and pursued in accordance with the objective of achieving the goals of sustainable development. The transition to the “green” economy will help to overcome poverty, provide humanity with renewable energy and gradually stop environmental pollution. The change of the existing model of economy requires a transformation in all its industries (manufacturing, finance, energy, etc.) and at all levels (from supranational to individual). Transformation processes, which include technical retrofitting, technology change, require significant funding. The establishment of an effective financial security mechanism will allow to attract the necessary investments for the implementation of projects in the field of transformation of economic sectors. It should be noted that the process of transition to a new model of economy in the world is already underway and the efforts of the world community aimed at achieving the goals of sustainable development are manifested in the creation of the necessary legal framework in the form of UN conventions and activities of international financial organizations providing financing for the implementation of projects in this field. The transition to the green economy model opens a number of opportunities for Ukraine, such as gaining energy independence, overcoming poverty and improving the environment. Keywords: “green” economy, “green” results, transformation of economy, stable development.