PERSPECTIVES AND CHALLENGES OF INCLUSIVE GREEN ECONOMY IN GEORGIA

Summary. The perfect implementation of the inclusive green economy and its further effective development is the most important factor of the sustainable and stable development of the country's economy, which we can safely consider as one of the determining factors of the environmental strategic protection, population protection and social security, and the development of the ecological economy. Despite the critical necessity, the process of transformation of the traditional economy into an inclusive green economy has been an important problem for Georgia in all periods and is still facing great challenges today. According to the Global Green Economy Index (GGEI), Georgia currently ranks forty-fourth among hundreds of countries in terms of green economy development, which in turn is a big successful step towards economic development in the direction of production of renewable and recyclable resources with universal involvement. But, like all important reforms, the process of transformation of the traditional economy into an inclusive green economy requires a lot of effort and financial resources from both the state and the private sector, and each citizen is not immune to the accompanying problems at any stage of its development and regulation. The paper analyzes the process and challenges of establishment, development, management and regulation of universal inclusive green economy in Georgia.


Introduction
Economic and ecological risks have always been a great inconvenience for humanity, especially because its interest and involvement increases with the growth of risks, because the welfare of society, health protection and economic stability are ensured by economic science and especially universal inclusive green economy.
"Whoever bets on an inclusive green economy will play a leading role in the С ЕКЦІЯ I.
ЕКО НОМІЧ НА ТЕОР І Я, М АКРО -ТА Р ЕГ ІОН АЛЬН А ЕКОНОМ ІК А economy of the 21st century" -declares the UN Secretary General, Antonio Guterres, and it is clear that at the current stage of society's development, a universally inclusive green economy, in contrast to the traditional economy, is one of the most important ways that, with universal involvement, By developing the production of renewable and recyclable resources, a new stable and dynamic stage of economic development of mankind can be provided, which aims at sustainable development and minimizing the negative impact on the environment, which will reduce a number of ecological problems and risks of environmental protection, and with a complex approach, it combines social and economic issues with ecological economy. The universal inclusive green economy at all stages of its implementation, development and regulation faces the following tasks from the representatives of almost all spheres of society: • Where are we on the path to the introduction and development of an inclusive green economy?
• What is more important, economic profit or ecological profit, and to what extent does the inclusive green economy ensure the sustainable development of the country's economy?
• What is the involvement and support of the state regarding the mentioned issue and how sufficient are the financial resources mobilized by the state?
• What is the approach and involvement of the business sector in the direction of introduction and development of universal inclusive green economy and how ready is it for additional financial expenses?
• What is the society's attitude towards the production of renewable and recyclable resources with universal involvement?
• Does the development of an inclusive green economy contradict the principles of the market economy and does it involve excessive state intervention in the traditional market economy?
• What problems and challenges does the introduction and management of an inclusive green economy face in the later stages of development and regulation? Methodology The paper includes the stages of introduction, development and regulation of universal inclusive green economy and its compliance, interdependence and mutual influence with the development of the country's traditional market economy and the social needs of society. Both quantitative and qualitative approaches have been used to determine the existing reality. It is based on the data received from governmental organizations, non-governmental agencies and international organizations, as well as the motivation and actions of economic, ecological and environmental protection agencies regarding the existing problems. Verbal interviews with representatives of the Georgian government and international organizations were used. The conclusion and recommendations are based on the quantitative and qualitative analysis of existing and received data on the current situation and international experience.
discussion The end of the twentieth century and the beginning of the twenty-first century are particularly marked by technical and technological progress and the accompanying permissible, critical and catastrophic risks that require corresponding AC RO-AND REGIONAL EC ONOMY scarce resources. Due to the fact that society's consumption of resources is always increasing critically, according to studies, the demand for resources will exceed the capacity of our planet by four times in the long term, and humanity will face such challenges as: unsustainability of vital resources, ecological unsustainability, economic unsustainability and, most alarmingly, the massive struggle for resources. and the danger of large-scale conflicts.
Economic development programs in Georgia have undergone many changes. Over the years, there have been various approaches, but despite some progress, the desired result, which the country needs, has not been achieved so far. Despite the difficult events that have developed in Georgia since the 90s of the last century, after the restoration of independence, the Global Green Economy Index (GGEI) (which measures the green economic activity of countries with indicators such as: leadership, climate change, sector efficiency, environment, markets and investments) Georgia ranks 44th among 130 countries (0.5183). The top five countries include: Sweden -0.7608; Switzerland -0.7594; Iceland -0.7129; Norway -0.7031 and Finland -0.6997.
An inclusive green economy ensures the creation of guarantees of economic, ecological and social protection for society. To achieve the goal, different countries use different approaches, finance common public projects, develop commercial programs or establish universal state programs. There are already certain institutional bases in the direction of the formation of an inclusive green economy in Georgia: the Law of Georgia "On Environmental Protection", three national programs of environmental protection actions of Georgia, the Law of Georgia -"Waste Management Code", the National Action Plan for 2016-2020 and the "Waste Management 2016-2030 National Strategy. The document "Green Growth Policy" was prepared by the German International Cooperation Corporation (GIZ) on the order of the Ministry of Economy and Sustainable Development of Georgia. In November 2016, Georgia joined the "Declaration of Green Growth", which in turn includes strengthening work on a green growth strategy and green investment. In the direction of the formation of the green economy, work is underway in Georgia on the growth strategy of the green economy, the creation of which the ministries of economic profile of the country and international donor organizations participate in the creation.
The primary basis for the transition to an inclusive green economy and development is to understand where we are, what economic reality we are facing, how successfully the 2016-2020 National Action Plan has been implemented and how the 2030 agenda is progressing. Clearly outline a harmonious strategy, tactics and planning to achieve a defined goal, taking into account universal involvement. For structural changes, it is important to establish an even more efficient base and create a strong domestic regulatory framework, taking into account international regulatory mechanisms, such as international framework agreements, which govern the process of transition to a green economy. Attention should be focused on such tools as promoting the growth of financial resources allocated by the state, mobilizing private finance and financing received from international financial institutions and donor organizations. Active involvement of stakeholders, scientific circles and practitioners in development planning and integration of priority and С ЕКЦІЯ I.
prospective green considerations in the process of transition to a green economy. As well as active contact and engagement with agents such as international structures and initiatives to support an inclusive green economy. Identifying key sectors with high potential for the development of greening and renewable resource production in the national context of sustainable development and investing in natural capital, investing in infrastructure capital, investing in technological capital, investing in human capital, financing further sustainable development and the latest inclusive green economy initiatives around the world.
"Climate change has become the challenge of our generation, there is no time left for talking and now it is necessary to look for a solution and take action. It is impossible to achieve success alone, only with joint efforts we will be able to achieve a successful result. For Georgia, we have developed a comprehensive strategy in the field of climate change for 2025 and signed an action plan for mitigating the consequences by 2030. In addition, thanks to low emissions, Georgia aims to achieve carbon neutral status by 2050 through unified national and international efforts. Georgia has one of the cleanest energy systems and 85% of it comes from renewable sources, and increasing this share is a strategic priority of my country. In addition, we continue to support and develop non-traditional renewable energy projects, such as solar, wind, water, geothermal and other renewable energy sources" -announced the Prime Minister of Georgia, Irakli Gharibashvili, at the 2022 UN Climate Summit.
Humanity must understand what is more important -economic profit or ecological profit? This is a choice that must be made immediately. This choice must be made by each country, national governments, business sectors, households, society and each individual, which will ensure sustainable green development in the long term. Which can be shown in the form of a diagram like this:

Scheme N1
The green business sector and the household sector can gain a stronger market and social position through appropriate eco-innovations, raising additional funds, enforcing existing regulations, and demonstrating goodwill. However, the relatively high cost of production of environmentally friendly products remains one of the obstacles for the further development of this market. Such a model creates many opportunities for people and businesses. Improving the social and personal environment, increasing business benefits and reducing the negative impact on the environment are its main values It should be noted that, in addition to state regulation, goodwill is the most important social and psychological tool that every sector and each of us must realize and understand that all this serves its well-being, health and happiness.
The transition to an inclusive green economy implies a sustainable lifestyle, stimulating the sustainable consumption, renewal and recycling of resources, increasing the scale of production, providing green financing and developing equal opportunities through the development of eco-innovations, promoting the effective use of natural resources and introducing various green models. For this, joint efforts of political, financial and social organizations and institutions involved in the country's economy are most important. Especially when it comes to inclusive economic renewal, it is important to systematically consider air, water, soil, biodiversity and, most importantly, people, their interrelationship and mutual influence in all aspects in one context, in order to define as much as possible all important goals and results.
It should be noted that the efforts of individual countries alone are not the way to solve the problem, it is necessary to involve all countries in order to minimize the negative impact on the environment of our planet from various types of even economically effective, but non-ecological activities, which is primarily through universal involvement, the production of renewable and recyclable resources. It is possible through implementation and development.
An inclusive green economy has no alternative and can be said to be unrivaled for community well-being and global economic, environmental and social sustainability. But, despite this, he became the object of criticism more than once. According to the opponents, it is less efficient than the traditional economy in time and requires a lot of expenses, it takes into account the excessive intervention of the government in the traditional economy, it contradicts the principles of the market economy, because it is implemented to a certain extent by limiting the business by various green regulations, by giving additional incentives and bonuses to various economic agents, it creates unequal conditions and non-competitiveness. In the Garemi market, significant financial resources spent on programs harm the country's economy and are neither effective nor profitable in the short term. However, in our opinion, the money spent on the development of an inclusive green economy can really be considered as an investment in natural, technological and human capital. The problem is not in the amount spent, but in its sufficiency and efficiency of spending. Achieving the desired result can be much more difficult and expensive than it seems. But we can say with certainty that the result will exceed all expectations, and the indirect and long-term effects will be impressive.
International support and involvement International support and involvement from international organizations is an important issue in the implementation of inclusive green economy programs, with the support and assistance of which many essential problems can be overcome. Great importance is attached to the help, involvement and sharing of their great experience of the governments of European and American developed countries, international organizations and donor organizations. Currently, more than sixty important projects are underway in Georgia, which include the following main directions: ➢ introduction of universal green economy; ➢ Providing protection of atmospheric air; ➢ Rational management of water resources; ➢ Environmental governance; ➢ Ensuring radiation and nuclear safety; ➢ reasonable management of forest resources; ➢ Control of protected areas; ➢ Chemical substances and waste; ➢ preservation of the first type of biodiversity; ➢ elimination of climate change problem; ➢ Effective management of land resources and others. The mentioned projects are of special importance for sustainable and renewable development in Georgia and are implemented with the support of such international donor organizations as: World Bank, Greening of Economies of the Eastern European Neighborhood Project (Eap GREEN), Organization for Economic Cooperation and Development (OECD), United Nations Environment Program (UNEP) ) etc.
According to Sebastian Molineus, Regional Director of the World Bank for the South Caucasus: "Such an attitude is well in line with Georgia's desire to get closer to the European Union. EU membership means greening the country's economic growth process and aligning it with the "European Green Deal", which will soon become the cornerstone of the EU's vision. The most important finding in the latest World Bank report, "Georgia -The Road to Green and Sustainable Development", is as follows: • The effects of climate change have been shown to disproportionately affect the poor. An increase in temperature and a decrease in atmospheric precipitation will have a negative impact on the agriculture, forestry and water supply sectors.
• In case of inaction, the economic value of the impact caused by climate change may be more than 6 percent of Georgia's gross domestic product (GDP).
• The economic cost of environmental degradation in the Black Sea coastline of Georgia was found to be approximately 4-5 percent of the gross domestic product.
• Georgia's impressive economic success is a brilliant result, but this growth has come at a price for the country, as air pollution is a growing ecological challenge for Georgia and the estimated economic cost of affecting people's health is 500 million per year. more than US dollars.
• Forests are a key national asset when it comes to air quality and economic development, Georgia has strengthened the regulatory framework for the forestry sector by implementing a comprehensive national system for sustainable forest • The growing role of the private sector in green development is noteworthy. Green companies are boldly innovating and creating safer, healthier and more productive workplaces. This trend is extremely important for the regional integration of Georgia within the framework of the Association Agreement between the European Union and Georgia.
"In the context of such positive dynamics, for the green and sustainable development of Georgia, the World Bank is ready to strengthen cooperation with the country's government, as well as with the private sector and partner organizations working in the direction of development. Continuous implementation of the Association Agreement between the European Union and Georgia contributes to convergence with the EU standards and setting an ambitious agenda in the field of environmental protection. I think it is fair to say that Georgia's natural wealth should become the basis of its green development strategy. Come, let's not spare joint efforts to make Georgia a green country based on open and digital technologies!"announced Sebastian Molyneus.
Conclusion and recommendations Based on its existing and potential results, it can be said that there is no alternative to the introduction of inclusive green economy and sustainable development. It is unrivaled for ensuring community well-being and global economic, environmental and social sustainability, and its further development is One of the most important and solid guarantees of social security. Some opposition to the necessity of green economy, the direction of development, efficiency, distribution of financial resources and results, is like walking in a tangled circle, which does not really have a solution. There are many ways in which a country can achieve the ubiquity of an inclusive green economy, and each country's experience in this regard is unique. It can be said that the most important role in overcoming this problem belongs to the state and then to all the links of the society. Circular green economy models in developed and developing countries are different and it depends on the country's economic and social situation and government policies. Therefore, it is necessary to find the golden middle, when the green economy will be developed at such a level that the negative impact on the society and the country's economy will be minimized.
Many countries are striving to introduce and develop a green economy. It should be noted that in the case of Georgia, the steps taken by the state are the basis and its development should be aimed at universality. There is still a long way to go to gradually achieve a universal system, because the inclusive green economy for Georgia is a relatively new system that needs to be improved during the implementation process. It is impossible to determine everything in advance, it is important to develop a specific, consistent and systematic strategy and tactics, which ensures its effective implementation and harmonious development.