GREEN PUBLIC PROCUREMENT AS A TOOL FOR THE EFFECTIVE USE OF PUBLIC FINANCES FOR SUSTAINABLE DEVELOPMENT

Keywords: public finance, green public procurement, sustainable development, competitive environment, efficiency, competitiveness

Abstract

The country's transition to sustainable development is impossible without consolidating the principles of sustainable development in the development of public finance tools, among which public procurement should be highlighted. Transparency, openness, competitiveness and compliance with environmental criteria are generally recognized requirements that must be strictly observed to achieve the effectiveness of green public procurement. Creating appropriate conditions and rules for implementing green public procurement that would satisfy all participants in procurement activities, that is, the formation of a transparent competitive environment, is a priority task for state and local authorities. The article considers key approaches to determining the advantages of green public procurement in the field of public finance in the context of increasing their transparency, competitiveness and efficiency in the public procurement market, taking into account the positive global experience of the transition to sustainable development. The author established that it is possible to fulfil current tasks and achieve the set goal of "green" procurement only with effective procurement management and using all the capabilities of innovative management tools. The author has identified the basic principle of green public procurement – competitiveness. Given that procurement is financed from state and local budgets, which are formed and financed at the expense of taxpayers, the fulfilment of this condition is justified. Accordingly, organizations and individuals who have the right to do so should be admitted to participate in the competition, submitting their applications as a proposal for certain requirements and conditions for which they are qualified, as a result of which contracts should be concluded as a result of public procurement at competitive prices. The author has identified the features of green public procurement from the point of view of the effective use of public finances. The author proposed recommendations for the further development of green procurement as a tool for the effective use of public finances.

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Article views: 29
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Published
2025-05-04
How to Cite
Rybina, L., & Maslak, N. (2025). GREEN PUBLIC PROCUREMENT AS A TOOL FOR THE EFFECTIVE USE OF PUBLIC FINANCES FOR SUSTAINABLE DEVELOPMENT. Sustainable Development of Economy, (2 (53), 479-484. https://doi.org/10.32782/2308-1988/2025-53-67