Current state and development trends of the global institutions of the environmental sustainability of economy

An ecological component in modern society becomes a basic one, since it provides fundamental foundations for the existence of each person. The methodological basis of the research is based on the synthesis of various approaches, methods and tools within the framework of the development of global institutions of environmental sustainability of the economy. The object of this research is the economic processes and phenomena that determine formation of global institutions of the environmental sustainability of the economy. The purpose of the research is to work out directions for the development through the formation of institutions for the environmental sustainability of the economy. The scientific novelty is in the author's characterization of the features of modern environmentally oriented development, as well as the proposed directions for the development of global institutions of environmental sustainability of the economy. The practical significance of the study is in the possibility of applying the developed directions of environmental development by government authorities in the formation of state policy ensuring sustainable development of the economy. The environmental component has not been and still is not a limiting factor in the economic growth. At the same time, the technological development has dramatically increased the negative impact on the environment. It is also important for the social development to be aimed at shaping ecological behavior using new transformational changes leading to managing and restoring ecosystems, while simultaneously promoting human well-being. The development of modern society takes place against the background of fundamental dysfunctions in key components that ensure the harmonious existence of mankind. The institutions of environmental sustainability of the economy can be considered as a new foundation in the management of socio-economic processes, which determines not only the growth of economic and social well-being. The solution of environmental problems in modern society should be a key factor, and its compliance with new living standards depends exactly on it. The transition to a new concept for the development of world institutions of environmental sustainability of the economy, taking into account the special role of ecology, can meet the needs of society without endangering future generations.