GREEN GROWTH AND USE OF EU STRUCTURAL FUNDS IN BALTIC STATES, CZECH REPUBLIC AND SLOVAKIA

Green growth is resource-efficient, cleaner economic growth and more resilient growth without slowing it. “Green growth’’ not only affects the quality of growth, but overall production. In this case, growth results from the investment in the upgrading of the entire production system to environmental and resource-saving processes and products. A prototype of this phenomenon is the climate-friendly ‘‘low-carbon economy.’’ Green growth is expected in implementation of Europe 2020 stratgey and can provide to harminized development and cohesion of old and new EU member states. Europe 2020 is the EU’s growth stratgey based on the growth of smart, sustainable and inclusive economy. The comparative study of green growth indicators and use of EU Structural Funds in 2007–2013 period in Baltics and Czech Republic and Slovakia was performed with the aim to define the role of financing from EU Structural Funds for enhancement of green growth in Baltic States, Czech Republic and Slovakia. The performed comparative assessment revealed that Czech Republic allocated the highest share of means form EU Structural Funds to enhance green growth. In terms of development of green growth indicators Czech Republic is also among the best performing countries following Estonia. The analysis of the use of EU Structural Funds in 2007–2013 in five new EU member states indicated that the EU Structural Funds has positively influenced the development of RES in Baltic States, Czech Republic and Slovakia. The increase of renewable energy capacities in Baltic States, Czech Republic and Slovakia also contributed to the reduction of carbon intensity of economy, reduction of environmental pollution, climate change mitigation and energy import dependency.