Advantages of Green Innovations and Technologies
The aim of the research is to explore the benefits of green innovations and technologies in the natural, economic and social environment. As for the methodology, the article presents an empirical study. The reports of the European Union and the World Bank are reviewed, as well as the relevant conclusions are made based on the results of a research conducted in China, the analysis of the reforms adopted in Malaysia and the experience of Georgia. Based on the reviewed reports and researches, we can conclude that green innovations and technologies have the following advantages: Contributes significantly to the risks of destruction of the environment, natural resources, flora and fauna; Allows businesses to use natural resources more efficiently, which decrease as time goes on; Promotes the development of a new, renewable energy field, which will significantly replace non-renewable energy; Green innovations and technologies help countries save non-renewable energy (for example, hybrid cars, help us save fuel); Gives business companies a competitive advantage (for example, countries that have promoted the idea of wind turbines have acquired a significant competitive advantage); Promotes the circular economy by increasing the life cycle of a product by reusing, renewing, repairing, or recycling it. Keywords: green, innovations, technologies, environment, protection.