One of the objectives of the research is to identify the factors influencing the implementation of environmental economics and green governance principles in Latvia. The study focuses on the strategic allocation, implementation and impact of investments, including EU structural funds, on environmental sustainability initiatives in Latvia. The research methodology includes theoretical concepts and research on the development of the environmental economics in the regions of Latvia. In order to achieve the objectives, the study was structured in several parts and carried out in different stages. The study is planned to be carried out over the period 2022-2025. This paper summarises the findings of the study, which explored possible financial solutions for the development of the environmental economics in the country using statistical data analysis, in-depth interviews and a survey method. In order to gain a deeper insight into the implementation of green governance principles and the factors contributing to the development of the environmental economy, data on the opinion and experience of entrepreneurs in attracting external financing, including EU funds for the development of the environmental economy, were researched and analysed. The study surveyed more than 100 entrepreneurs in both rural and urban areas, and obtained their perceptions of the factors influencing the development of the environmental economics. Data from interviews with municipal leaders were analysed to identify the development prospects of the territories and the factors influencing the implementation of green economy principles. The results of the study show that investment plays a key role in the development of the environmental economics and the implementation of green governance principles, and that attracting EU structural funds often plays a crucial role in the implementation of sustainable principles and the successful development of the environmental economics in Latvia. The data from the study will be used in the next stages of the study, where the development of the environmental economics and the implementation of green governance principles in all municipalities of the country will be studied and the data will be compared.