WORLD INDUSTRY DIGITIZATION IN THE CONTEXT OF ENSURING CLIMATE NEUTRALITY

Authors

DOI:

https://doi.org/10.35774/jee2022.03.343

Keywords:

Digitalization, climate neutrality, global industry, Industry 4.0, digital competitiveness index, sustainable development, EU strategy

Abstract

The article examines the connection between digitalization and climate neutrality of economy, which is an obvious mainstream in the modern world. Global development programs aimed at solving climate problems and digital transformation of the industry are analyzed. Strategic directions of climate neutrality achievement are considered in accordance with the EU 2050 Strategy, aimed at reducing the greenhouse effect and CO2 emissions. Comparative analysis of the volumes of greenhouse gases emissions generated by the economy of different countries of the world related to ratios of their GDP is carried out. Critical limit of greenhouse gas emissions per 1 million dollars of the country’s GDP is determined, which is an indicator of necessity to implement environmentally friendly approach. Relying on the experience of the world heavyweights of modern industry (USA, China, Germany, etc.), it is emphasised that the modern economic system has the potential to achieve climate neutrality, introducing innovative practices and digital tools The capacity for such implementation is assessed on the basis of global digital competitiveness indicator, indicating general technological readiness of most countries for digitization. A list of tasks and projects of digital transformation in the field of climate problems and environmental protection is defined on the example of Ukraine. The conclusion is made about synergistic implementation of digital and environmental initiatives as a great contribution to the sustainable reconstruction of the domestic industry in the nearest future.

JEL: F29, O14, O57.

Author Biographies

Irina MAKSYMOVA, State University of Economics and Technology, Kryvyi Rih

PhD, Associate Profesor, Department of International Economics

Vitalina KURYLYAK, West Ukrainian National University, Ternopil

Doctor of Economic Sciences, professor, Department of International Economics

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Received: September 5, 2022.

Reviewed: September 20, 2022.

Accepted: September 23, 2022

Published

20.11.2022

How to Cite

MAKSYMOVA, Irina, and Vitalina KURYLYAK. “WORLD INDUSTRY DIGITIZATION IN THE CONTEXT OF ENSURING CLIMATE NEUTRALITY”. Journal of European Economy, vol. 21, no. 3, Nov. 2022, pp. 343-60, doi:10.35774/jee2022.03.343.