Green Economy Development Progress in the Republic of Buryatia (Russia)

Abstract

Under current conditions, the green economy concept has received a comprehensive response in achieving the sustainable development of regions. However, measuring green economic development progress is dynamic, quantitatively characterized by indicators reflecting various aspects. The difficulty lies in a comprehensive environmental sustainability assessment in a context that includes the territory’s environmental, social, and economic factors. The study aimed to assess the progress of the Republic of Buryatia’s (Russia) “green” economic development. The proposed methodology for constructing a composite index is based on five dimensions’ aggregation—resource efficiency, environmental efficiency, environmental quality of life, natural assets, and institutional factors. The composite index helped generalize the complex processes of the region’s environmental–socio–economic development. Its main feature is the reflection of the environmental specificity of the territory. We built a mid-term forecast of the composite and sub-indices, determined their future trend, and assessed the opportunities and conditions for the fastest transition of the Republic of Buryatia to a green economy. The developed composite index is a key tool for regulating green economic development progress, determining prospects, and region management. This paper attempts to fill the gap in a comprehensive assessment of the Republic of Buryatia’s current situation using a composite index.