Balanced interaction of the environment and the economy: The role of sustainable development in ensuring environmental and economic benefits

Document Type : Reviewers

Authors

1 Sterlitamak Branch of the Ufa University of Science and Technology, Russia

2 The Russian Presidential Academy of National Economy and Public Administration, Russia

3 Plekhanov Russian University of Economics, Moscow, Russian Federation

4 Higher School of Economics, Russia

5 Moscow State University of Civil Engineering, 26, Yaroslavskoe shosse, Moscow, 129337, Russia

10.22124/cjes.2023.7201

Abstract

In this study, the peculiarities of the environment and the economy interaction were assessed, while the emphasis was placed on the role of sustainable development in achieving both environmental and economic benefits.  The subject of the author's analysis was to study the impact of sustainable development on the formation of a balance in the field of both doing business and managing and using resources. Environmental problems in the modern world, especially those that arise in the course of the activities of enterprises of various industrial sectors, nowadays require immediate solutions, since their long-term impact can lead to an environmental catastrophe. To do so, data analysis was carried out within the framework of the topic of the work, and comparative and analytical research methods were used in the preparation of the work.  The study presents examples from existing practice that allow applying the principles of sustainable development, environmental responsibility in practice at the present stage. It is shown how individual companies carry out work in the field of overcoming environmental problems and develop measures in the field of overcoming them.   It is concluded that the integrative foundations of economics, ecology and modern entrepreneurial initiatives not only act as a kind of engine of the economy, but also serve as a certain incentive for the development of competitiveness of modern companies. In general, the author concludes that the modern approach to achieving a balance in the field of ecology and business is quite promising, which in the future may bring positive results for humanity as a whole.

Keywords

References

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Caspian Journal of Environmental Sciences

Articles in Press, Corrected Proof
Available Online from 22 October 2023

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