Key indicators of green competitiveness: the EU and Ukraine’s performance

Abstract

Implementation of the Global Sustainable Development Goals 2030 highlights the necessity to accelerate the dynamic processes of changing traditional approaches to doing business, favouring environmentally friendly and responsible ones. The article aims to research the structural environment of developing green competitiveness on the global level. The paper used the methods of structural analysis to determine the main drivers of forming green competitive advantages, correlation analysis for measuring links between the global sustainable competitiveness and countries’ GDP per capita. The authors emphasise the country's level of green competitiveness described by the Global sustainable competitiveness index. The paper investigated the ability of Ukraine to generate competitive advantages by analysing key determinants connected with natural capital, resource intensity, intellectual capital, social cohesion, and governance compared to the world level. The analysis of the essential components of green competitiveness showed a significant number of organisational and economic prerequisites for its formation and improvement. The impacts of sustainable competitiveness on GDP increases over time. In that context it is essential to decide on economic and management policies following the promotion of green competitiveness results. The findings could be used for improving a basis for creating strategies for green competitiveness promotion on the countries’ level.