134Received 19.02.2024. Revised 28.02.2024. Accepted 03.04.2024.
Abstract. The article examines the implementation of the European Green Deal in terms of the normative and regulatory framework development and the transformation of the governance system in the European Union. The study demonstrates that the Green Deal is a political response to societal demands and is based on the significant achievements of two previous decades. The Green Deal goes far beyond the climate/energy policy and provides for a fundamental transformation of the economic model. The incorporation of the sustainable development concept into all aspects of economic policy, if successfully implemented, may launch the transition to the third stage in the development of the EU economic model. The study concludes that by now, the European Union has formed the major part of legislative framework and the governance system necessary to achieve proclaimed goals. The reforms have radically strengthened the complexity of the policy course, de facto increased EU competence and regulatory powers of the European Commission, established new obligations for member states and formed more stringent mechanisms to influence national policies. Despite the change in the political situation in 2023–2024, the social base of the Green Deal remains significant. Accumulated experience and the reformed system of governance in the area of green transformation provide sufficient inertia. Taking into account all the features of the Green Deal and the momentum gained, the successful implementation of this project has a great chance to give impetus to new integration dynamic in the European Union.
Keywords: European Union, Green Deal, governance system, energy policy, climate policy
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