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Regional Economics: Theory and Practice
 

Greenwashing as an institutional trap

Vol. 22, Iss. 6, JUNE 2024

Received: 25 March 2024

Received in revised form: 21 April 2024

Accepted: 14 May 2024

Available online: 17 June 2024

Subject Heading: SUSTAINABLE DEVELOPMENT OF REGIONS

JEL Classification: Q54, R11

Pages: 1096–1109

https://doi.org/10.24891/re.22.6.1096

Ekaterina O. VEGNER-KOZLOVA Institute of Economics of Ural Branch of RAS, Yekaterinburg, Russian Federation
vegner.kozlova.eo@uiec.ru

https://orcid.org/0000-0003-4182-6514

Polina D. KOLOTOVKINA Institute of Economics of Ural Branch of RAS, Yekaterinburg, Russian Federation
kolotovkina.pd@uiec.ru

https://orcid.org/0000-0001-7988-9129

Subject. This article considers the mechanisms for regulating harmful transformations that arise in the course of cyclical changes and slow down the achievement of sustainable development goals.
Objectives. The article aims to determine the position of greenwashing in the institutional economic theory.
Methods. For the study, we used the comparative and causal analyses.
Results. The article finds that greenwashing is characterized by an increase in the impact on economic systems. It is necessary to form an alternative institution to reduce the negative long-term consequences of greenwashing.
Conclusions. Being an institutional trap, greenwashing has a negative impact on the relationship between economic agents at all levels, hindering the achievement of sustainable development goals and the real greening of the economy.

Keywords: greenwashing, sustainable development, institutional theory, institutional trap, environmental legislation

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ISSN 2311-8733 (Online)
ISSN 2073-1477 (Print)

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