Modernizing Human Capital Management in the Face of Natural Resource Depletion Risks within Sustainable Development in the Green Economy Landscape

Abstract

Recently, the discourse of scholarly discussions within the field of sustainability and effective use of national resources has been significantly expanded and complicated. However, a range of important components for a comprehensive understanding of the ‘state-of-the-art’ is not integrated sufficiently. In particular, this refers to the issues of the role of human capital management and appropriate policies in the landscape of the green economy. The current research represents an attempt to fill this gap, outlining the existing patterns. The methodology implies a mixture of grounded theory and content analysis. The study indicates that a combination of poor governance quality and natural resource rents could have a negligible influence on economic growth and may have a negative impact on the economy in both the long and short run. The results also show that there is unidirectional causality from the interaction term to growth. This implies that natural resource rents and institutional quality may both influence the growth trajectory. The implications of green human capital are described, and the expediency of broader acceptance of a category of sustainable human capital is emphasized. In particular, it is demonstrated that green growth, which seeks to promote economic development while reducing environmental impact, is dependent on sustainable human capital. Systematization of domains of human capital management within the landscape of green economy, and covering the category of sustainable human capital, represents the core utility of this article.