The green economy is one that results in improved human well-being and social equity, while significantly reducing environmental risks and ecological scarcities. Green economy is an economy or economic development model based on sustainable development and a knowledge of ecological economics.
What is the “Green Economy”?
For the purposes of the Green Economy Initiative, UNEP has developed a working definition of a green economy as one that results in improved human well-being and social equity, while significantly reducing environmental risks and ecological scarcities. In its simplest expression, a green economy can be thought of as one which is low carbon, resource efficient and socially inclusive.
Practically speaking, a green economy is one whose growth in income and employment is driven by public and private investments that reduce carbon emissions and pollution, enhance energy and resource efficiency, and prevent the loss of biodiversity and ecosystem services. These investments need to be catalyzed and supported by targeted public expenditure, policy reforms and regulation changes. This development path should maintain, enhance and, where necessary, rebuild natural capital as a critical economic asset and source of public benefits, especially for poor people whose livelihoods and security depend strongly on nature.
What is the “Green Economy Initiative”?
The UNEP-led Green Economy Initiative, launched in late 2008, consists of several components whose collective overall objective is to provide the analysis and policy support for investing in green sectors and in greening environmental unfriendly sectors.
Within UNEP, the Green Economy Initiative includes three sets of activities:
- Promoting the Green Economy Report and related research materials, which will analyse the macroeconomic, sustainability, and poverty reduction implications of green investment in a range of sectors from renewable energy to sustainable agriculture and providing guidance on policies that can catalyze increased investment in these sectors.
- Providing advisory services on ways to move towards a green economy in specific countries.
- Engaging a wide range of research, non-governmental organizations, business and UN partners in implementing the Green Economy Initiative.
Main Source: unep.org