Climate change uncertainties and economic growth

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Ivane Javakhishvili Tbilisi State University Paata Gugushvili Institute of Economics
The work presents the challenges related to the uncertainty of climate change under the modern features of globalization. The global nature of the problem of climate change is analyzed, and the negative dynamics of climate change in Georgia and the neighboring countries of the Caucasus in recent decades – the tendency of the average annual temperature to increase. Decarbonization is highlighted as the urgency of transitioning from fossil fuel-based energy resources with zero carbon emissions to fuels based on renewable energy sources. It is noted that the use of renewable energy sources reduces the emission of greenhouse gases, and ensures a substantial reduction in the level of air pollution in cities. Taking into account the growing trend of climate change uncertainty, based on the requirements of ensuring sustainable development, the great importance of correct determination of the relationship between climate policy and economic growth is noted. In addition, sustainable development should mean systemic sustainability of the economy, social sphere, and natural environment in the format of the concept of green growth.
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contemporary features of globalization, the uncertainty of climate change, economic growth, green growth
Conference: the Innovative Development of an Economy: World Experience and Perspectives. Tbilisi, 2022, pp. 29-36