Global Transformations: Trends towards Increasing Instability and Sustainable Development Drivers in Current Situation

The ongoing global transformations and the high turbulence of global processes call into question sustainability of development of most countries, make it necessary to identify factors leading to instability and search for drivers of sustainable development in current situation. The conducted research allowed us to determine that the trends towards increasing instability are mainly determined by the processes of deglobalization, the dominance of maximizing production and consumption ideas, increasing social inequality, uneven distribution of resources between the environmental, social, and economic components of sustainable development, human violation of the laws of biosphere development, insufficient environmental protection measures, the consequences of recent crises, international conflicts, disadvantages of management. The considered factors of instability growth, the strengthening of their influence and the associated risks led to setting a new task: to determine what can be a driver of stability in modern difficult situation. Our study shows that positive impulses for sustainable development include: the dissemination of ideas and steps towards the implementation of the green economy; the establishment of specific deadlines for achieving targets of sustainable development by many countries; the development of technological sovereignty of countries based on a green worldview; the implementation of the concept of sustainable development not only by governments, but also at the micro level — by companies; the emergence of new financial instruments, in particular, green and social bonds to attract capital and invest in projects with environmental and social benefits; advances in the taxonomy of green finance. An important result of the study is the conclusion that despite the possibility of deceleration in certain periods, sustainable development is a long-term trend in the functioning of our civilization and further research should be aimed at improving management decisions to support it in the short and long term.

1. Bobylev S.N., Solovyeva S.V., Kiryushin P.A. (2022) The Collapse of the Global Consumption Model: In Search of Sustainability. Mirovaya ekonomika i mejdunarodnye otnoshenia. Vol. 66. No. 11. P. 92–100. DOI: 10.20542/0131-2227-2022-66-11-92-100

2. Bobylev S.N., Solovyeva S.V., Koshkina N.R. (2023) Sustainable Development, ESG and the “Price” of Health. Population and Economics. Vol. 7. Is. 3. P. 124–135. DOI: 10.3897/popecon.7.e103302

3. Bobyleva A.Z. (ed.) (2023) Integratsiya tseley ustoychivogo razvitiya v biznes-strategiyu kompaniy [Integration of sustainable development goals into the business strategy of companies]. Moscow: RUSAYNS.

4. Cheng E. (2023) Mirovaya obstanovka i kitayskaya ekonomika v novuyu epokhu [The global situation and the Chinese economy in the new era]. Moscow: INIR im. S.YU. Vitte: Tsentrkatalog.

5. Danilov-Danyl’yan V.I. (2020) Global Climate Changes and Water Problems in Russia and the Worlds. Vek globalizatsii. No. 4(36). P. 65–78. DOI: 10.30884/vglob/2020.04.05

6. Ivanov I.S., Timofeyev I.N., Karpinskaya K.O., Solodukhina E.A., Gavrilova S.M. (eds.) (2023) Mezhdunarodnyye otnosheniya: grani nastoyashchego i budushchego [International relations: The edges of the present and the future] Мoscow: NP RSMD.

7. Jensen M. (2002) Value Maximization, Stakeholder Theory, and the Corporate Objective Function. Business Ethics Quarterly. Vol. 12. Is. 2. P. 235–256. DOI: 10.2307/3857812

8. Keynes J.M. (1936) The General Theory of Employment, Interest and Money. London: Palgrave Macmillan.

9. Makarov V.L., Ageev A.I., Bakhtizin A.R., Loginov E.L., Khabriev B.R. (2023) Economic Foundation of Victory: A Strategic Forecast for the Russian Economy Stability in the Face of Sanctions. Ekonomicheskiye strategii. No. 3(189). P. 6–15. DOI: 10.33917/es-3.189.2023.6-15

10. Malthus T. (1993) An Essay on the Principle of Population. In: Stolyarov I.A. (ed.) Antologiya ekonomicheskoy klassiki: v 2 tomakh. Moscow: Ekonov. Vol. 2. P. 6–136.

11. Meadows D.H., Randers J., Meadows D.L. (2014) Limits to Growth: The 30-Year Update. Moscow: BINOM. Laboratoriya znaniy.

12. Nureyev R.M., Nekhoda (Chuvakina) E.V. (eds.) (2021) Institutsional’naya transformatsiya ekonomiki: chelovek i sotsium (IT·E-ChS 2021): materialy VII Mezhdunarodnoy nauchnoy konferentsii [Institutional transformation of the economy: Man and society (ITE-HS 2021): Proceedings of the VII international scientific conference]. Tomsk: Izdatelstvo Tomskogo gosudarstvennogo universiteta.

13. Pivovarov Yu.S. (ed.) (2015) Rossiya: tendentsii i perspektivy razvitiya. Ezhegodnik. Vyp. 10. Chast’ 1 [Russia: Trends and prospects of development. The yearbook. Is. 10. Part 1]. Moscow: INION RAN.

14. Porfiriev B.N. (ed.) (2022) Sberezheniye naseleniya Rossii: problemy, zadachi, puti resheniya [Saving the Russia population: Problems, tasks, ways of solution]. Moscow: Artik Print.

15. Sheng C., Liu Y., Liu J. (2023) Multi-Level Governance and Competing Sustainability Aims: Politics of Renewable Energy Development and Nature Conservation in Changdao, China. Energy Research & Social Science. Vol. 97. DOI: 10.1016/j.erss.2023.103001

16. Shumpeter J. (1911) Theorie der wirtschaftlichen Entwicklung. Berlin: Duncker & Humblot.

17. Solow R.M. (1970) Growth Theory: An Exposition. Oxford: Oxford University Press.

18. Xue L., Weng L., Yu. H. (2018) Addressing Policy Challenges in Implementing Sustainable Development Goals through an Adaptive Governance Approach: A View from Transitional China. Sustainable Development. Vol. 26. P. 150–158. DOI: 10.1002/sd.1726

19. Yulkin M.A. (2018) Nizkouglerodnoye razvitiye: ot teorii k praktike [Low-carbon development: From theory to practice]. Moscow: ANO “TsEI”.