Environmental Sustainability Through Social Economy and Eco-Innovation
Environmental Sustainability Through Social Economy and Eco-Innovation

Author(s): Gergana Grozdanova-Dzhoykeva, Kamelia Kaloyanova
Subject(s): Politics / Political Sciences, Politics, Economy, Business Economy / Management, Energy and Environmental Studies, Sociology, Economic policy, Human Ecology, Economic development
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: social economy; environment; eco-innovation
Summary/Abstract: The aim of this paper is to examine how social economy and eco-innovations jointly contribute to sustainable development by implementing in practice the balance between economic growth, social inclusion, and environmental protection. Building upon the classical and neoclassical economic roots of sustainability and the “triple bottom line” framework, it conceptualizes sustainable development as dependent on the integrated viability of the three pillars – environmental, social, and economic. It also recognizes the growing relevance of strong sustainability, which rejects the substitution of natural capital by other forms of capital. The study situates this discussion within the evolution of the global sustainability agenda from the Brundtland Report and The Limits to Growth to the Millennium Development Goals and the 2030 Agenda for Sustainable Development. It also puts and emphasis on the universal, interdependent character of the Sustainable Development Goals (SDGs) and the European Union’s leading role in their implementation. The methodology used combines a theoretical overview with a review of regulatory and strategic frameworks, as well as illustrative case studies of international and Bulgarian social enterprises. The approach is mixed but primarily is qualitative and is used to explore how eco-innovative and socially oriented business models translate normative sustainability principles into practice. Particular attention is paid to the definitions, types, and mechanisms of eco-innovation, highlighting their role in reducing environmental impacts, enhancing resource efficiency, and reshaping innovation systems toward long-term resilience. The findings demonstrate that innovation, and especially eco-innovation is a critical catalyst of sustainable transitions through renewable energy, circular economy solutions, sustainable agriculture, and smart technologies that lower transition costs while preserving competitiveness and generate green jobs. Simultaneously, organizations in the social economy demonstrate how enterprises can prioritize collective well-being, empowerment of vulnerable groups, and reduction of power imbalances, while remaining financially viable. The synergy between social economy and eco-innovations emerges as a powerful driver for localized, inclusive pathways to achieving the SDGs. The study identifies persistent structural barriers that include limited access to finance and technology, capacity gaps, fragmented policy support, and global socio-economic inequalities that limit the spread and upscaling of such models. The paper concludes that realizing the transformative potential of eco-innovation and the social economy requires coherent public policies, strategic partnerships among state, market, and civil society, and the mainstreaming of environmental and social criteria into business models. Their convergence offers a concrete, practicable route toward a more equitable, competitive, and ecologically responsible development paradigm.

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