Environmental management of modern international corporations in the context of sustainable development

¹ PhD in Economics, Sumy National Agrarian University, Sumy, Ukraine
² Postgraduate, Sumy National Agrarian University, Sumy, Ukraine

^* Corresponding author: bash_serg@ukr.net

Abstract

The paper discusses the results of a study that highlights the importance of modern biotechnological processes in the framework of sustainable development by analyzing the activities of several international corporations. It is shown that the implementation of the principles of justice and ethics in this context is identified as one of the key challenges for the global community. The paper discusses in detail the concept of the bio-based circular economy, which is already being applied in the EU countries, although with varying degrees of success in long-term operations. It is determined that green project management plays a key role in the implementation of this concept. Particular attention is paid to the impact of the biotechnology industry on the environmental situation. It is established that materials produced with the use of biotechnology can have a negative impact on the environment. An important aspect is also the sustainability of technologies, which implies not only their natural changes but also the ability to adapt to new standards of use. In the context of highlighting these aspects, the article points out the need for further research and development of strategies aimed at effective management of environmentally friendly technologies as well as ensuring their sustainable effectiveness in the long term. The paper presents the results of a study on the role of modern biotechnological processes in the context of sustainable development on the example of a number of international corporations. The concept of the bio-based circular economy, which has been promoted in the EU member countries, although with varying degrees of success in long-term operations, is considered. It is established that the management of “green” projects plays a key role in this context.