In recent years, green growth and the green economy have become worldwide policy hot topics. Green Economy, according to the United Nations Environment Programme, is an economic model that “improves human well-being and social equality while dramatically lowering environmental dangers and ecological scarcities.” It proposes a development route that prioritizes maintaining, enhancing, and rebuilding natural capital as a significant economic asset and source of public benefits, particularly for impoverished people whose livelihoods and security are heavily reliant on nature.
It is an economy whose income and employment development is fueled by public and private investments in innovation, as well as a commitment to lowering carbon emissions and pollutions, improving energy and resource efficiency, and avoiding the loss of biodiversity and ecosystem services.
In 2012, the United Nations Conference on Sustainable Development (Rio+20) recognized and accepted the concept of a Green Economy as a way to promote economic growth and development while protecting natural resources. To bring people out of poverty and generate stronger social cohesion, growth must be inclusive, particularly in the form of job creation and skills development. Green Growth may only become a viable model for developing countries if it is human-centered and incorporates notions such as equality, access, and pro-poor growth.
Greening the economy in a way that benefits everyone necessitates models that are tailored to each country’s unique political, economic, and social conditions, and that combine strong political commitment with long-term societal transition toward a greener, more inclusive future.