World economy and international economic relations

Problems of sustainable development worldwide and public policies for green economy

Economic Annals-XXI

Economic Annals-ХХI: Volume 166, Issue 7-8, Pages: 4-10

Citation information:
Vertakova, Yu., & Plotnikov, V. (2017). Problems of sustainable development worldwide and public policies for green economy. Economic Annals-XXI, 166(7-8), 4-10. doi: https://doi.org/10.21003/ea.V166-01

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Yulia Vertakova
D.Sc. (Economics),
Professor,
Head of the Regional Economics and Management Department,
Southwest State University
94, 50 Let Oktyabrya Str., Kursk, 305040, Russian Federation
vertakova7@yandex.ru
ORCID ID: http://orcid.org/0000-0002-1685-2625

Vladimir Plotnikov
D.Sc. (Economics),
Professor,
General Economic Theory and History Department,
Saint-Petersburg State University of Economics
21 Sadovaya Str., Saint-Petersburg, 191023, Russian Federation
plotnikov_2000@mail.ru
ORCID ID: http://orcid.org/0000-0001-7051-1082

Problems of sustainable development worldwide and public policies for green economy

Abstract. Introduction. Conducting economic activity in modern conditions is often connected with a negative impact on ecology. Today, economic activity has reached such a scale that it can be considered to be a geological and climate-forming factor which can significantly change living conditions of man. This trend is a serious cause for concern and leads numerous initiatives realized at both the international and the national levels and contributing to the development of green economy. Many countries are developing and implementing special measures of public policies for green economy to level undesirable effects. Therefore, a consideration of the main challenges in the area of social, economic and environmental development, as well as structurisation of public policies for green economy is a particular concern.

The purpose of this article is to systematise the main challenges in the area of social, economic and environmental development taking into account their specific features and provide recommendations relevant to the guidelines for public policies related to the reduction of the impact of economic activity on the environment.

Methods. Theoretical and empirical methods such as literature review, retrospective analysis, logical and system analysis, and graphic-analytical methods of visualisation of system analysis are used in this research.

Results. This article presents an analysis of social, economic and environmental development worldwide and particularly in Switzerland, The United Kingdom, Sweden, Singapore, Finland, The Netherlands, The United States of America, Denmark, Luxembourg, and Hong-Kong, in the modern period in relation to the measures of public regulation aimed at levelling the negative impact of the economic system on ecology and promoting the concept of sustainable development adopted at the UNO Conference on environment and development. Special attention is paid to the analysis of the present situation in Russia, as well as to its ecological and power-oriented problems. The article reveals high importance of the development of green economy for ensuring economy stability. The authors have structured the main areas of green and provided empirical data reflecting the current trends.

Conclusions. This research proves that environmental problems are global in nature and the development of green economy is in the current interest across countries. It is possible to say that efforts made in Russia to reduce negative impact of economic activity on the environment are successful. They are in line with global trends in sustainable development policies. The involvement of both activists and civil society institutions in the relevant processes is considered to be a sign of the greening of the economy. The proposed guidelines for public policies in the area of green economy may become part of sustainable development programmes worldwide.

Keywords: Green Economy; Public Policy; Sustainable Development

JEL Classification: L52; O32

Acknowledgements. This paper is an output of the science project of the government task of the Ministry of Education and Science of the Russian Federation No. 26.3546.2017/PCH «Development fundamentals of analysis and prediction of structural and dynamic parameters of the regional economy based on the integration of the Russian and world experience of territorial development management and modern scientific doctrines».

DOI: https://doi.org/10.21003/ea.V166-01

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Received 19.04.2017

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