Industrial and human activities are accompanied by environmental risks that pose serious danger and harm to human health and the environment. It is therefore necessary to objectively assess potential threats and build a new paradigm for sustainable economic development. Solving problems associated with the energy transition and "green" transformation becomes even more relevant in Russia's current economic conditions and requires forming new economic principles. The article deals with analysing environmental risks and developing areas to prevent and minimize them. Academic novelty lies in the generalization of the principles of building a “green” economy, the development of risk theory, as well as expanding the classification of environmental risks and clarifying the algorithm for assessing environmental and economic damage. A conclusion is made that implementing an environmental strategy is one of the most promising areas of development for Russian companies. The research helped confirm the hypothesis that the regional characteristics of the environment need to be considered and the likelihood of environmental risks needs to be assessed.