THE EUROPEAN UNION’S EXPERIENCE IN DEVELOPING A GREEN ECONOMY

Abstract

The European Union has emerged as a global leader in developing the concept of a green economy, which seeks to harmonize economic growth with environmental protection and social well-being. Over the past decades, the EU has implemented a comprehensive framework of policies, strategies, and financial mechanisms to promote sustainable development. This article analyzes the EU’s experience in transitioning toward a low-carbon, resource-efficient, and socially inclusive economy. It examines key instruments such as the European Green Deal, the Emissions Trading System (EU ETS), the Circular Economy Action Plan, and the EU Sustainable Finance Taxonomy. The study highlights the importance of coordinated governance, technological innovation, and social justice in achieving long-term sustainability. The findings demonstrate that the European model provides valuable lessons for other regions seeking to balance economic competitiveness with ecological responsibility.