Greening of Regional Economic Systems within the Framework of Sustainable Development Goals

Abstract

Sustainable development was chosen by the United Nations as the key concept of the future in the 21st century, which led to the emergence of other economic concepts, such as green and blue economy, seen as contributing to the achievement of sustainable development goals (SDGs). In Russia, despite the ongoing processes of green transformation in some economic sectors and certain improvements in the green legislation and green finance, not all businesses and regions are ready to embrace sustainable development. This paper discusses two interconnected aspects of regional economic systems — their economic efficiency and environmental impact. The analysis focuses on the regions of the Ural Federal District and explores these regions’ transition to sustainable development by looking at their eco-intensity. Methodologically, the study relies on the methods of analysis and synthesis, statistical, comparative and causal analysis. Conceptually, we use the theoretical framework of sustainable development as a point of departure for our discussion. The results have shown, on the one hand, a decrease in the industrial pressure on the natural environment, related primarily to the enhanced resource efficiency of certain industries. On the other hand, less effort is now invested into minimising the negative impact on the environment in Ural regions. We have also identified those areas of sustainable development that hold most promise in the Russian context. Our findings can serve as a basis for the strategies of regional sustainable development and may be used for further research on socio-environmental and economic sustainability.