This study explores three key areas: disparities in national economic development, the roles of multinational corporations and supply chain networks; challenges related to green finance and technology transfer; and the tensions between environmentalism and development. The chapter also examines major international agreements and policy frameworks that promote sustainable development, including the United Nations Sustainable Development Goals and the Paris Climate Agreement. Through its analysis, the study identifies barriers that hinder the transformation of global commitments into tangible outcomes. It also evaluates the necessary compromises between political, economic, and social spheres to achieve a sustainable transformation of the global economic system.The first section discusses the drivers and justifications behind the global shift toward a green economy, including concerns about resource depletion, environmental degradation, and climate change. The chapter critically examines the ongoing transition to a green and sustainable economy. With a detailed, evidence-based analysis, it highlights both the progress made and the substantial work still required to establish a truly sustainable global economy. The chapter concludes by offering policy recommendations and suggesting future directions for researchers, policymakers, and international institutions to help accelerate the global transition to sustainability.