Formation of Green Economy and Stages of Institutional Development in the Context of Global Economic Transformation
Nihad Amirov
Abstract. The article examines the growing environmental pressures against the backdrop of deepening global economic integration in the 21st century and the formation of a green economy model in this context. The relevance of the topic is justified by the fact that multidimensional challenges such as climate change, resource scarcity, energy security and social inequality question the sustainability of the current economic growth model. The aim of the study is to systematically analyze the theoretical foundations of the green economy, its institutional development stages and its integration into the global normative framework. The object of the study is the concept of green economy, and its subject is its interaction with variables such as economic growth, carbon emissions, resource efficiency and social welfare. The period covered mainly covers the period after the 2008 global financial crisis and the climate and sustainable development framework that has been formed since 2015. The methods of comparative analysis, institutional analysis and document research were used in the study. The results show that the green economy has been formed as an alternative model that reconciles economic growth with the protection of natural capital and low-carbon transformation.
Keywords: green economy, global economic transformation, climate change, economic growth, energy