MECHANISMS FOR ENSURING ESTONIA'S PERMANENT DEVELOPMENT: THE ENVIRONMENTAL ASPECT

Liliia Khorishko () and Tetyana Vasyl'chuk ()
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Liliia Khorishko: Zaporizhzhia National University, Ukraine
Tetyana Vasyl'chuk: "Zaporizhzhia Polytechnic" National University, Ukraine

Baltic Journal of Economic Studies, 2022, vol. 8, issue 3

Abstract: The latest trends in global development actualize the problem of ecological modernization in order to ensure the sustainability of socio-economic and political functioning of modern states, creating additional opportunities for an appropriate response to possible threats. The issues of ecological modernization are key on the agenda of the EU, which seeks to demonstrate leadership in addressing it. Ecological modernization and the subsequent digitalization of the economic sphere are considered one of the most important components of sustainable development of the EU and each member state. These processes and mechanisms for their practical implementation are approved in the program The European Green Deal. The European Commission created the Recovery and Resilience Facility, which provides for the coordination of efforts of EU member states to ensure resilience and sustainability of development. The subject of the study is the content and characteristics of sustainable development in Estonia. The purpose of the scientific exploration is to identify environmental aspects and to specify mechanisms for sustainable development in Estonia. Research methodology: systematic approach, methods of analysis and generalization. Estonia has developed a long-term strategy "Estonia 2035", which defines the basic principles of sustainability and sustainable development of the state. The tools for implementing the set sustainable development goals are legislative, managerial, educational and awareness-raising. In this strategy, the priorities of sustainable development of the state are innovation and sustainability of the economy, its competitiveness in world markets, energy efficiency, digitalization of management processes, safe environment for citizens, stimulating their activity in different spheres of society. Environmental issues are a key aspect of the "Estonia 2035" strategy, which meets such sustainable development goals as rational consumption, sustainable cities and communities, combating climate change, and preserving the ecosystem. A recovery and sustainability plan, correlated with the "Estonia 2035" strategy, was presented to enhance the ability to implement the basic principles of sustainable development and obtain additional sources of funding. Estonian officials are actively engaging financial and political mechanisms to implement sustainable development. According to the plan approved by the European Commission, Estonia will receive 969.3 million euros in funding from the Recovery and Resilience Facility. They will be distributed along the following lines: ecological modernization, digitalization, economic and social sustainability. In addition, political mechanisms, in particular public diplomacy, are actively used. They are aimed at positioning environmental initiatives according to the state branding strategy and intensifying cooperation with stakeholders in the implementation of international environmental projects. Research results: sustainability and resilience of Estonia's development correlate with the need to implement environmental modernization of the economy and digitalization of management processes; implementation of the "Estonia 2035" strategy, national recovery and sustainability plan is facilitated by economic and political decision-making mechanisms at the supranational and national levels of government.

Keywords: digitalization; energy efficiency; ecological modernization; green economy; public diplomacy; stakeholders; sustainable development (search for similar items in EconPapers)
JEL-codes: Q54 Q57 Q58 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:bal:journl:2256-0742:2017:8:3:25

DOI: 10.30525/2256-0742/2022-8-3-205-209

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