Economics

The European green deal in Ukraine: opportunities and implications for the industry

Ukr. socìum, 2021, 4(79): 46-63
Language:
Ukrainian
https://doi.org/10.15407/socium2021.04.046
171
11
Article(UKR)(.pdf)

The purpose of the article is to substantiate the European Green Deal (EGD) commitments, identify opportunities and threats for the development of Ukrainian industry, and elaborate proposals for the adaptation of Ukrainian producers to the requirements of the EGD. It is shown that the EGD is at the centre of the European agenda, and it is a modern challenge that can change the economy and consumption patterns not only in the European Union but throughout the world. This could have profound geopolitical implications. The authors justify that Ukraine has stable economic, social, and political ties with the EU and has been involved in new value chains with European producers, so implementing the EGD opens new opportunities for “green” transformations of the Ukrainian industry. It has been found that Ukraine should serve to implement international commitments on development. However, such compliance carries significant threats aggravated by technological backwardness and financial insecurity of industrial agents. Also, complying with Ukraine’s international commitments and other international agreements could further impede access of Ukrainian goods to the EU market by strengthening trade barriers associated with more stringent environmental requirements. It has been shown that today the level of climatic neutrality and environmental load on the environment in Ukraine does not correspond to European standards. This enhances the importance of adapting the Ukrainian industry to the requirements of the EGD. To address the shortcomings, the authors propose regulatory and institutional changes. Paper recommends developing economic incentives to save energy and primary material resources, modern waste management methods to minimize waste volumes, disseminate environmental innovations and environmentally friendly resource-efficient technologies to develop “green” business.

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