Green Economy as an Object of State Regulation of Sustainable Development

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.