The European Green Deal can be seen as a societal step towards a holistic, all-encompassing approach to climate and environmental challenges. It attempts to integrate environmental policy by bringing together and improving several existing policies, initiatives and funding programs that address sustainability and climate change. This article analyzes the goals and objectives of the European Green Deal, as well as strategies for their implementation. The article establishes that the European Green Course is a long-term process that aims to build a better future for society and its main goal is the creation of a sustainable society. This goal can only be achieved with a holistic, all-encompassing approach. The article also presents a theoretical conceptualization of sustainable finance and establishes that the appropriate distribution of investments and finances can lead to a successful and even transition of society towards sustainability and environmental improvement. Properly used, sustainable finance reduces the risk of societal negativity, which can be caused by the unavoidably high costs. In addition, systematic increases in funding are expected to result in a stable transition of society to sustainability. Although the correlation analysis does not show a direct relationship between sustainable finance for environmental protection and the implementation of the European Green Deal objectives, the research results indicate a strong correlation between the European Green Deal objectives and the allocation of sustainable finance to research and development and renewable energy resource usage. These differing conclusions can be explained by the fact that the allocation of sustainable finance to environmental protection is a much broader area than the other two variables analyzed separately. In addition, 27 EU countries have been ranked according to the effectiveness of their implementation of EGD directives and economic transition to pro-ecological technologies as of 2021. The positions of Lithuania, Latvia, and Estonia have been determined and examined in detail.

The paper performed comparative assessment of greenhouse gas (GHG) emission trends and climate change mitigation policies in the fuel combustion sector of selected EU member states with similar economic development levels and historical pasts, and implementing main EU energy and climate change mitigation policies, having achieved different success in GHG emission reduction. The impact of climate change mitigation policies on GHG emission reduction was assessed based on analysis of countries’ reports to UNFCCC by identifying the key areas of GHG emission reduction, their GHG emission reduction potential, and the driving forces behind them. The study revealed that climate change mitigation policies that have been implemented so far in Bulgaria are less efficient than in Lithuania, as Bulgaria places priorities not on energy efficiency improvement and penetration of renewable energy sources, but on switching from coal to natural gas. The policy implications for strengthening GHG emissions reduction efforts are provided based on analysis conducted.

Policy incentives and technological advancements are driving the rapid expansion of renewable energy industries. However, as speculative investment intensifies, concerns about the potential formation of financial bubbles are growing. This paper examines financial saturation in renewable energy markets, emphasizing key bifurcation and overheating thresholds that indicate speculative risks. Using a financial saturation model, the study evaluates market overheating across three major renewable energy sectors—solar PV, wind energy, and battery storage—based on a scenario analysis from Bloomberg’s New Energy Outlook (NEO) 2024. The findings reveal that battery storage is the most susceptible to speculative investment, with bifurcation (~70% market saturation) projected by 2031 (medium term) and by 2038 (long term) under the Net-Zero Scenario (NZS), and by 2042 under the Economic Transition Scenario (ETS). In the long term, financial overheating (~90% market saturation) in battery storage is projected by 2048 under the ETS. Solar PV also faces speculative risks, with bifurcation expected by 2030 (ETS, medium term), 2039 (ETS, long term), and 2041 (NZS, long term). Overheating in the solar sector is projected by 2048 (ETS, long term) and 2050 (NZS, long term). Wind energy exhibits a more gradual saturation pattern, with bifurcation expected by 2031 (ETS, medium term), 2038 (ETS, long term), and 2045 (NZS, long term), while overheating is anticipated by 2049 (ETS, long term). These findings highlight the need for regulatory oversight to mitigate speculative investment risks. To enhance financial stability, policy recommendations include gradual subsidy phase-outs, financial stress testing, and diversified investment strategies. Maintaining a stable investment environment is essential for long-term climate goals and energy security.

Geothermal energy plays an important role in Europe’s transition towards sustainable energy systems, significantly contributing to environmental, economic and social sustainability. This paper conducts a comparative analysis of geothermal energy development in Germany, Italy, Turkey, Iceland and France. It highlights their unique approaches, policy frameworks and technological advancements. The study reveals that geothermal energy strengthens energy security, reduces greenhouse gas emissions and promotes economic growth. Despite different levels of development, each country shows progress in integrating geothermal energy into their renewable energy portfolios. The findings show the importance of strong governance, policy support and technological innovation in order to achieve sustainable development by developing and using geothermal energy.

Lithuania aims to have entirely renewable energy sector in the future, which will increase demand for sustainable infrastructure that integrates wind, solar, hydro, bio, geothermal, ocean, and hydrogen energy sources. This study uses demographic data to assess public acceptance of green infrastructure. While older, lower-income, rural, and less educated groups are more sceptical, younger, wealthy, urban, and highly educated people exhibit greater acceptance. These observations highlight the need of taking demography into account when trying to achieve broad acceptability and a successful transition to sustainability.