Drivers of Sustainable Development of Countries in the Context of Globalization

Abstract

The article substantiates the drivers of sustainable development of countries in the context of globalization, namely: the development of alternative energy, low-carbon economy, circular economy. It is argued that with the establishment of the model of sustainable development in the world practice, the issue of a significant reduction in the segment of energy-intensive types of global production and a decrease in the scale of consumption of energy resources is of particular importance. It is substantiated that in order to disseminate an energy-efficient model of economic development on a global scale, it is necessary to form an active State policies of the countries of the world by creating economic, administrative, social and infrastructural conditions, eliminating State subsidies to environmentally harmful industries, using market incentives, increasing public procurement in energy-saving industries, along with stimulation of their investment financing. The prospects for the development of the world energy sector until 2030 are outlined. The synchronization of Ukraine with ENTSO-E, the European network of electricity transmission system operators, is examined. It is found that synchronization with ENTSO-E is a step towards expanding the opportunities and prospects for attracting investment in the energy sector of Ukraine. Recommendations on finding effective ways of transition of countries’ economies to the use of alternative energy sources, low-carbon development and application of the principles of circular economy (the conception of combining linear production lines into a closed cycle) are provided. It is substantiated that the transition to sustainable low-carbon development can be successful due to the implementation of the global energy conversion of the economy.

Keywords

• sustainable development
• alternative energy
• low-carbon economy
• circular economy
• energy conversion