SUSTAINABLE DEVELOPMENT IN INTERNATIONAL LAW: EVOLUTION OF MAJOR ENVIRONMENTAL AND ECONOMIC INSTRUMENTS

The purpose of the study is to define the right to development as a basic right in the context of sustainable development, which requires a methodological distinction between the concept of general human rights in the context of sustainable development and human rights to development, with the separation of the economic aspects of its provision in the context of the imperative of environmentalization and sustainability. It is established that a kind of "globalization of development" shifts the emphasis from development policy from the South-North coordinates, towards the absolutization of saving the planet in the context of global vulnerability to climate change and pandemics. The adoption of the Sustainable Development Goals (SDGs) in 2015 can be seen as a turning point when problems began to be associated not only with the countries of the South, but also with every state, regardless of its level of development. It is argued that a rights-based approach to development absolutizes ensuring fair and sustainable progress, global responsibility, defining clear guidelines and limitations, provides a holistic view of human development at all stages of their life, and is also determined by the principles of the Declaration on the Right to Development. It is established that the institutionalization of sustainability involves the introduction of new market mechanisms for regulating world economic ties that go beyond preferences in international trade for developing countries. A set of economic instruments (fees and taxes; preferences; transferable permits; subsidies to encourage activity; manipulation of insurance premiums; transfer of responsibility; system of preferences; voluntary agreements; gradation of premiums; provision of bonuses) of the greening of international cooperation as an imperative of international economic development has been identified, which indirectly indicates the relevance of the implementation of the "right to development", which can be demonstrated by progress in the implementation of the Sustainable Development Goals as a global guide to the sustainability paradigm. The legal content of the principle of preferences for developing countries has been determined, which consists in: (1) the right of developing countries to special tariff rates; (2) the right of developing countries not to grant developed countries the preferences that they have among themselves; (3) the right of developing countries to use subsidies, including export subsidies, for the purposes of socio-economic development; (4) the obligation of developed countries not to discriminate against developing countries; (5) the obligation of developed countries to reduce or eliminate duties on goods for developing countries without countervailing duties, as well as their right to gradually eliminate preferences in accordance with the level of development achieved by a particular developing country; (6) the obligation of developing countries, in accordance with the level of development achieved, to assume obligations that are characteristic of developed countries in international relations. It is emphasized that the concept of sustainable development extends beyond environmental issues and affirms the responsibility of current generations to future generations. It is established that sustainability is an inherent feature of the concept of the "right to development", which determines the expected effective obligations for states in policymaking, a general indication of the nature and consequences of political decisions, and on the other hand, sustainable development refers to ethical values. It is proven that the institutionalization of sustainability involves the introduction of new market mechanisms for regulating world economic ties, including tax mechanisms and environmental taxation, modified market mechanisms and emissions trading, environmental financing and green investments, environmental standards and certification, payments for ecosystem services. Ecological and economic instruments for ensuring sustainable development in the development policy of the EU and in Ukraine are considered.