"Is the green economy a real solution to the present economic development?" represents the main question of the present research. The paper deals with assessing the impact of innovation on the green economy and quality of life through policies promoted at the European Union (EU) level. The objectives of the paper are to assess the impact level of the policy implementation across the Member States through the research and development (R&D) process and to identify models for the development of the green economy in Europe. The applied methods are empirical and analytical based on the study of literature, econometric modeling, pivoting econometric models, trend synthesis, prioritization, and staging of policy experimentation in the Member States through data processing and statistical programs. The results consist in obtaining development models for the green economy at the EU and national levels. In conclusion, the paper contributes to the early identification of vulnerabilities that may affect the development of European strategic projects in relation to events and security breaches occurring at the EU level at any given time.
Keywords: European policy; development; econometrics; green economy; innovation; sustainability.