DETERMINANTS OF THE GREEN ECONOMY AND THEIR CONTRIBUTION TO THE SUSTAINABLE DEVELOPMENT OF THE EURASIAN ECONOMIC UNION MEMBER STATES

Abstract

The article identifies the key determinants of the green economy (institutional, technological, energy, economic, environmental) for the EAEU member states based on systematic analysis and econometric calculations. Data from 1990–2025 were used. Regression models, cluster analysis, radial diagrams, and thermal correlation maps have been constructed. It has been found that the Union states are at different stages of the green transition: Russia and Kazakhstan are characterized by high carbon intensity, Belarus has the best waste recycling rates, while Armenia and Kyrgyzstan stand out for their high share of renewable energy sources. The share of renewable energy and energy intensity in GDP accounts for 68% of the variation in CO2 emissions. It is proposed to harmonize the taxonomy of green projects and create a common market for carbon units.