ЗЕЛЕНЕ ФИНАНСИЈЕ - ТРЕНД КОНЦЕПТА ОДРЖИВОГ РАЗВОЈА
GREEN FINANCE - THE TREND OF THE CONCEPT OF SUSTAINABLE DEVELOPMENT

Author(s): Evica Petrović, Jelena Stanković
Subject(s): Business Economy / Management, Energy and Environmental Studies, Economic development, Environmental interactions, Accounting - Business Administration
Published by: Savez računovođa i revizora Republike Srpske
Keywords: sustainable development; institutions; rule of law; economic growth;
Summary/Abstract: In considering the perspective of the second-term survival and progress of mankind, the central place belongs to the concept of sustainable survival and progress of mankind. Sustainable development implies the exploitation of resources, investment management, technological development and institutional changes that must be consistent with the future, and not only with the needs of current generations. Considering the effects of excessive consumption of resources and destruction of ecosystems, the green economy has emerged as a shift in thinking and is considered one of the possible successful solutions to improve economic growth, 'while reducing resource consumption and preventing ecosystem destruction. The paper will analyze the economic aspects of sustainable development, as -well as its advantages and disadvantages. The emphasis will be on the analysis of the institutional component of sustainable development and its importance and key role in connecting and supporting the achievement of other sustainable development goals will be pointed out. The representation of inclusive institutions in a society that promotes the rule of law enables the security of private property, an impartial legal system and the creation of inclusive markets.

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