New ecological vision of Ukraine: green economy as an engine of investment attractiveness

30.10.2023

Andriy Ogorodnik, CEO of the FEEDNOVA company, talks about the trends in the development of the green economy in a special material for the “New Country” project. The project was founded by the EFI Group company and the “Livyi Bereh” information site.

The world is changing rapidly, and with it, the demands on business and the economy. The modern generation, especially millennials, understands the importance of preserving the environment and careful use of natural resources. Ukraine can and should become an ambassador for the implementation of the philosophy of sustainable economy and green technologies.

In the modern world, climate change and the destruction of natural resources have become serious threats to humanity. The bright future lies in the transition to a green economy where business and nature exist in harmony.

Green economy is not only a buzzword, but also the essence of the future. According to World Bank research, countries that transition to a green economy increase competitiveness, create jobs and ensure sustainable development. FEEDNOVA’s business demonstrates that a sustainable economy can be good for business and good for the environment, providing a detailed analysis of global practices.

Author: Director of FEEDNOVA Andriy Ogorodnik

 

Green economy in the world

Ukraine annually produces 3,000,000 tons of meat in live weight. Residues and waste in the industry make up about 30%, which is about 900,000 tons per year, and far from all of them find the right ways of processing.

In the modern world, climate change and the destruction of natural resources have become serious threats to humanity. The bright future of the planet lies in the transition to a green economy, where business and nature exist in harmony.

Analyzing world practices and economic aspects of the green economy, we can state that Ukraine has unlimited potential to become known in the world as a leader in green technologies and sustainable development. One of the main success factors of the green economy is investment in research and development of green technologies. Countries such as Germany and China are already investing billions of dollars in the development of renewable energy sources and technologies that reduce their impact on nature.

Recycling is a step into the future where everyone can contribute to the conservation of natural resources. World data indicate that countries with a developed recycling system consume less raw materials and generate less waste. As an example, Japan has been able to achieve impressive levels of waste recycling by implementing innovative technologies and encouraging consumers to separate recyclable materials.

According to estimates by the United Nations Economic Fund, the transition to a sustainable economy can reduce greenhouse gas emissions by 70%. The Netherlands is one of the countries marked by high achievements in reducing emissions and developing recycling. The country became known for its successful implementation of the concept of “circular economy.” The Netherlands recycles more than half of its plastic, made possible by efficient sorting and recycling systems.

 


Attracting investments and supporting the green economy in Ukraine

The processing industry of Ukraine has a huge potential for further development, especially in the context of the green economy. However, in order for the industry to develop even faster and attract investments, support and incentives from the state are necessary. Preferences and subsidies can become key tools to accelerate the growth of the processing industry and attract investors. Providing subsidies for the development of such enterprises will affect the country’s economy in several ways:

Stimulating innovation and sustainable development: the provided preferences can encourage companies to develop and implement innovative technologies aimed at reducing the negative impact on the environment. This can lead to the emergence of new industries and the growth of technological innovation.
Job creation: The development of green businesses can lead to an increase in the number of jobs, as the demand for labor in such companies increases. This will positively affect the unemployment rate and contribute to social stability.
Reducing the environmental impact: the development of green enterprises helps to reduce the negative impact on the environment. Reducing emissions and optimizing the use of resources help preserve nature and reduce pollution.
Increased competitiveness: Countries investing in the green economy can increase their competitiveness in the global market. Consumers are becoming increasingly aware of environmental issues, and companies that implement sustainability can gain an advantage in the marketplace.
Increasing domestic production: encouraging the development of green enterprises can help increase domestic production and reduce dependence on imports, which has a positive impact on the country’s economic sustainability.

However, it is important to balance the granting of preferences in such a way as not to violate budgetary sustainability and not lead to distortions in market competition. Also, due attention should be paid to monitoring the use of the provided benefits and the efficiency of the development of green enterprises.

 


Sustainability and recycling

The development of the green economy is important for Ukraine, and, of course, the state should be an active partner in this process, providing