MANAGING GREEN GROWTH FOR SUSTAINABLE ECONOMIC DEVELOPMENT: EVIDENCE FROM GEORGIA

Abstract

The increasing intensity of climate change, environmental degradation, and the challenges of post-crisis economic recovery have significantly reshaped global development priorities, placing greater emphasis on models that integrate economic growth with environmental sustainability. Within this context, green growth has emerged as a strategic development paradigm that promotes economic expansion while simultaneously ensuring efficient resource utilization, low-carbon development, eco-innovation, and the preservation of natural capital. Unlike traditional growth models that often externalize environmental costs, green growth seeks to internalize these costs and align long-term economic performance with ecological resilience.

This article examines the conceptual foundations and practical implications of green growth as a pathway toward sustainable economic development, with a specific focus on Georgia as a transition economy. Georgia represents a relevant case study due to its ongoing structural reforms, increasing integration into European and global economic systems, and its exposure to both environmental vulnerabilities and development constraints. The study draws on established theoretical frameworks of sustainable development, green economy transition models, and international policy initiatives promoted by institutions such as the OECD, the World Bank, and the European Union. In addition, composite measurement tools such as the Green Growth Index are utilized to support the analytical perspective.

Methodologically, the research adopts a qualitative–quantitative analytical approach, combining secondary data analysis, policy review, and comparative assessment techniques. The study evaluates Georgia’s progress in key dimensions of green growth, including environmental efficiency, natural resource management, climate policy integration, and institutional readiness. The findings indicate that although Georgia has demonstrated formal commitment to sustainability through strategic alignment with EU environmental directives and participation in international climate agreements, there remain substantial structural gaps. These include limited financial mechanisms for green investment, weak enforcement of environmental regulations, insufficient technological innovation capacity, and institutional fragmentation.

The article contributes to the ongoing academic and policy discourse by positioning green growth as an operational bridge between economic development and environmental sustainability. It further argues that for transition economies like Georgia, successful implementation of green growth requires not only policy alignment but also strong institutional coordination, targeted investment in green infrastructure, and enhanced public–private cooperation. The study concludes with context-specific recommendations aimed at strengthening Georgia’s green growth trajectory and improving its long-term sustainable development outcomes.