This article presents a comparative analysis of Green Economy development in the Black Sea region in the context of global trends seeking to reduce fossil fuels exploration through expanding utilization of renewable sources of energy. A comparison is made between the state of renewables development in Germany and Turkey, and the wider Black Sea region countries of Azerbaijan, Bulgaria, and Ukraine. In addition, the article brings into focus the impact of a renewables-based economy on the natural environment and its negative effects experienced by the above-mentioned regional countries.