Subject. The article focuses on the need to coordinate efforts stimulating the economic growth and environmental protection so as to drive the economic development without any losses and difficulties. Objectives. In the study, we examine the mechanism for the mutual impact of the economic growth in industries and the environmental protections so as to build the empirical basis for the reasonable natural protection policy. Methods. Theoretical projects are based on the analysis of economic literature and empirical studies on resources, environment and sustainable economic development in the existing theories of economic growth. Results. We substantiate and corroborate the assumption that the gist of green development implies the sustainable economic and social development driven by a concerted and sustainable economic and environmental growth. The understanding of natural environment should be totally revised so as to convey that the natural environment is not a resource that can be consumed eternally, but does have its own limits. Conclusions and Relevance. In the future, Russia’s economy should rely upon the sustainable development model, where the green constituent will dictate a new strategy underlying the national economic growth and advancement.
Keywords: industrialization, sustainable development, environment, green development
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