TRANSITION TO THE GREEN ECONOMY: TECHNOLOGICAL DIMENSION

Abstract

The paper investigates the perspectives on the transition to a green economy in countries with different economic and technological development types. It has been found that government assistance can significantly accelerate the potential of green transition. It has been established that increased risks of environmental, social, political, and economic origin require coherent and coordinated actions. It is argued that the intensification of measures aimed at deepening technological capacity has a significant positive potential in increasing the efficiency of economic systems and accelerating the green transition. The study confirms the usefulness of developing new mechanisms and tools for cooperation among countries, taking into account the characteristics of green economic policies in a transparent and accountable manner. It has been determined that a green economy concept can become an alternative to implementing a new economic policy model or can significantly complement it. It is proposed that local and international stakeholders be worked with to develop a vision and an action plan that considers all interests and provides a sustainable foundation for economic growth. This sustainable foundation can be formed by comprehensive support for the technology sector, including green technologies as its essential element. It was stated that the transition to the next technological level in Ukraine might be the prerequisite for economic change, which will assist in reforming the existing Soviet heritage and established practices that do not promote efficient resource management.The following priority areas for implementing green economy principles were identified for Ukraine: intensification of a public dialogue on the role of green transition in ensuring economic and energy security; revision of the existing centralized energy system and formation of stages of its decentralization; redesigning existing green technology infrastructure and diversifying its financing methods; creating a national plan that will ensure green transition by pan-European legislation; support the participation of Ukrainian producers in green global value chains (GVC) and green exports. Further research should focus on developing practical tools that can stimulate green growth.