STUDY CLIMATE CHANGE, ENERGY AND ENVIRONMENT GREEN GROWTH AND INNOVATION Measuring Progress in Transition from Planned to Market Economies George Safonov August 2020 Spurring green growth and innovation has positive im­pacts on economic growth and diversification, creation of new jobs, and environ­mental and human health. Green growth and innovation are crucial aspects of building environmentally, socially, and economically sustainable soci­eties in the modern world. The CEECCA region faces a challenge in implementing sustainability-oriented technol­ogy and»greening« its econo­my. Many of these countries are lagging, but a few are among leaders in Europe.