LEGAL FRAMEWORK FOR GREEN ECONOMIC GROWTH: INTERNATIONAL AND NATIONAL DIMENSIONS

Abstract

This article examines the legal framework for green economic growth from international, European and national perspectives, paying particular attention to the economic effectiveness of legal mechanisms that support the transition to sustainable development. The study's relevance is determined by the growing need to balance environmental protection with economic development priorities in the context of climate change, resource depletion and the implementation of the European Green Deal. The research focuses on the legal and economic mechanisms that regulate the development of a green economy, ensuring the transition to a low-carbon, resource-efficient growth model. The study aims to analyse the legal basis for green economic growth and evaluate the economic impact and effectiveness of regulatory instruments implemented at international, EU and national levels. The methodological framework combines both general scientific and specialised research methods. The dialectical method was employed to analyse the development of the concept of the green economy within the context of sustainable development theory. A comparative legal analysis was conducted to evaluate international, EU and Ukrainian legal instruments that govern environmental and climate policy. A systems approach was adopted to identify the interactions between legal, economic and environmental institutions. Statistical and economic analysis methods were employed to evaluate the impact of green investments, environmental taxation, emissions trading systems and renewable energy policies on sustainable economic development. The study shows that the modern legal framework for green economic growth combines international environmental law principles, climate governance mechanisms and economic incentives to stimulate environmentally responsible investment and production. Particular attention is given to the European Green Deal, the European Climate Law, the Fit for 55 package, the REPowerEU plan and the Circular Economy Action Plan. The research reveals that legal mechanisms are most effective when combined with economic instruments, such as carbon pricing, environmental taxation, emissions trading schemes, green finance and public investment programmes. Analysis of the EU's experience suggests that legal regulation has led to a significant increase in green investment, accelerated the deployment of renewable energy technologies and substantially reduced greenhouse gas emissions, all while maintaining economic growth. The findings confirm that the effectiveness of green transition policies hinges on integrating regulatory requirements with financial and institutional support mechanisms. It can be concluded that a green economy should be regarded as a comprehensive legal and economic transformation model aimed at achieving climate neutrality, environmental sustainability and long-term economic resilience. For Ukraine, the essential prerequisites for successfully implementing the green economy model are further harmonisation with EU environmental legislation, the development of green finance instruments, and the strengthening of institutional capacity.