Challenges of Social and Green Businesses in Georgia

The modern world economy is increasingly focusing on sustainable development, which puts businesses with social and ecological responsibility in a leading position. In Georgia, interest in both social and green businesses has been actively growing in recent years. However, the existence of an appropriate environment is important for their development. Unlike developed countries, in Georgia, these models are still at an early stage of development and require legislative, financial and educational support. The development of green and social businesses involves the creation of economic models that serve environmental protection and sustainable development. This includes creating innovative products and services that reduce the problems of climate change and environmental pollution. In this article, we discussed the concept of sustainable development, also known as the “Triple Bottom Line” approach. Green businesses often use the 3P model (People, Planet, and Profit), which involves not only obtaining financial benefits, but also caring for the well-being of the environment and society. For example, companies that focus on recycling waste and using renewable energy play an important role in reducing environmental problems. In this article, we discussed several different types of sustainable business models that companies use to have a positive impact on society and the environment.