ECONOMIC POLICY OF ENVIRONMENTAL PROTECTION FACING MODERN CHALLENGES

Issues of environmental protection in the 21st century are becoming more and more crucial for leading

countries and, therefore, for the whole world. This has led to growing the effects of global warming and the lack

of certain resources, the reduction of which can cause incredible damage to the world economy.

The reaction to the degradation of nature in the USA, Japan, Germany, France, Great Britain, and other economically

developed countries was manifested by the creation of a legal system in the field of environmental

protection. The public ecological movement was and is considered to be an essential impetus for the development

of legislation in the field of environmental protection in the mentioned countries. Laws adopted in the field of

environmental protection are mostly a reaction to an acute ecological problem. Environmental protection issues

differ between countries. It is known that developed countries regulate environmental pollution, the processing

of chemical waste, and the use of chemical materials at work with special legislative acts. Some developing

countries do not have these laws, which allow multinational companies to pollute at higher levels than would be

allowed in their own countries. Countries are trying to reach a consensus on many environmental issues, reduce

emissions, and find new ways of production that will not cause damage to the environment.