Subject. This article considers the mechanisms for regulating harmful transformations that arise in the course of cyclical changes and slow down the achievement of sustainable development goals. Objectives. The article aims to determine the position of greenwashing in the institutional economic theory. Methods. For the study, we used the comparative and causal analyses. Results. The article finds that greenwashing is characterized by an increase in the impact on economic systems. It is necessary to form an alternative institution to reduce the negative long-term consequences of greenwashing. Conclusions. Being an institutional trap, greenwashing has a negative impact on the relationship between economic agents at all levels, hindering the achievement of sustainable development goals and the real greening of the economy.
Pearson J. Turning Point. Are We Doing the Right Thing? Leadership and Prioritisation for Public Benefit. Journal of Corporate Citizenship, 2010, no. 37, pp. 37–40. URL: Link
Bennis W.G., Nanus B. Leaders: The Strategies for Taking Charge. New York, Harper & Row, 1985, 244 p.
North D.C. Institutions, Institutional Change and Economic Performance. Cambridge University Press, 1990, 152 p.
Popov E.V., Lesnykh V.V. Institutsional'nye lovushki Polterovicha i transaktsionnye izderzhki: monografiya [Polterovich's institutional traps and transaction costs: a monograph]. Yekaterinburg, Institute of Economics of Ural Branch of Russian Academy of Sciences Publ., 2006, 459 p.
Popov E.V. Instituty mini-ekonomiki [Mini-economics institutions]. Moscow, Ekonomika Publ., 2005, 636 p.
Dement'ev V.V. [What do we investigate during the investigation of institutes?]. Terra Economicus, 2009, vol. 7, no. 1, pp. 13–30. URL: Link (In Russ.)
Kanapukhin P.A., Voronin V.P., Karibov S.T. [Analysis of the economic basis of institutional traps in small business]. Sovremennaya ekonomika: problemy i resheniya = Modern Economics: Problems and Solutions, 2021, no. 6, pp. 145–155. URL: Link (In Russ.)
