Green economy and bioeconomy concepts in the context of sustainable development

The purpose of this paper is to present green economy and bioeconomy as new concepts and economic categories related to sustainable development implementation. This paper discusses the essence and scope of green economy and bioeconomy. Based on a literature review, it presents different approaches to these concepts, their sources and the nature of their relationships with sustainable development. An attempt was made to answer the question on how much do these concepts contribute (at operational level) to sustainable development objectives. The rationale behind, and key objectives of, the development strategy for the European bioeconomy were presented. This paper is based on literature reviews and international documents published by various bodies, especially including the European Commission, UN and OECD.