Study of Strategies for Sustainable Production and Consumption in the Economic Conditions of Ukraine

Abstract

Modern requirements for companies and consumers include the stability of financial performance amid increasing environmental attractiveness. Companies need to cover such seemingly diverse interests as profitability for owners, concern for staff, interest for partners and consumers, and actions for environmental protection. It is essential to consider the growing role of conscious consumption, which is a direct regulator of production activity. Today, this is especially important for Ukraine, considering its transition to sustainability and the implementation of sustainable development goals in the sphere of sustainable production and consumption. The aim is to formulate a strategy and recommendations for combining sustainable initiatives in production and consumption in the context of European integration processes in Ukraine. The research object is sustainability in production and consumption. The article proposes a strategy combining sustainable production and consumption into one cluster. It will allow sustainable initiatives are focused on systemic changes and essential areas of production and consumption. The work used the method “Sustainable value of the business”. This method includes detailed reporting on the sustainable development of production with relevant ratings and indices. It’s recommended for use in decision-making, investment management for business development, comparative analysis, and communication with stakeholders; it also provides a comprehensive view of the company’s impact on six standardized parameters. The result is a proposal to create an algorithm to combine sustainable production and consumption into one cluster. It will allow sustainable initiatives to focus on systemic changes in crucial production and consumption areas – energy, transport, housing, agriculture, and food. The practical value of the approach is in a strategy that includes measures stimulating environmental and socio-economic policy of production. It will allow moving from relative disunity of actions to technological standards. The proposed approach can be implemented in recommendations for improving programs on changing behavior from a gradual transition from individual consumers to broader initiatives to change the entire system – production and consumption.