Green new deal as a solution for the battle between the economy and nature

While the global economic system has aimed to achieve sustainable development, today it must struggle with the irreversible climate crisis, in addition to the crises of the past. By its very nature, the climate crisis centres on all these crises. All the acts and suggestions of international organizations and international agreements have been ineffective to mitigate the global climate crisis, which is mainly a result of industrialization and economic growth mania. Moreover, the degrowth hypothesis and green growth have been developed to combat the climate crisis and achieve sustainable development. However, the unrealistic nature of the degrowth hypothesis and the fact that green growth mostly focuses only on growth necessitated a more comprehensive approach. In this context, this study aims to show that the Green New Deal is the most effective and realistic way to effectively combat the crises as a result of the battle between the economy and nature, and achieve sustainable development. For this purpose, employment in the environmental goods and services sector, environmental protection investments of the governments, environment-related technologies, renewable energy public R&D budget, environmentally related official development assistance and environmentally related taxes are considered Green New Deal variables. With the help of the available data, two different models for two different country groups have established for the period between 2015- 2019, and the relationship between the Green New Deal variables and the sustainable development index was empirically examined by using fixed effects and random effects models. According to the results, employment in the environmental goods and services sector, renewable energy public R&D budget, environmentally related official development assistance and environmentally related taxes have a statistically positive and significant effect on the sustainable development index.