A green economy is defined as low carbon, resource efficient and socially inclusive. In a green economy, growth in employment and income are driven by public and private investment into such economic activities, infrastructure and assets that allow reduced carbon emissions and pollution, enhanced energy and resource efficiency, and prevention of the loss of biodiversity and ecosystem services.
“To be green, an economy must not only be efficient, but also fair. Fairness implies recognizing global and country level equity dimensions, particularly in assuring a Just Transition to an economy that is low-carbon, resource efficient, and socially inclusive” – UNEP, 2011
The Green Transition refers to the process of shifting from a fossil fuel-based economy to a low-carbon and environmentally sustainable economy. This transition involves reducing greenhouse gas emissions and the use of non-renewable resources, while increasing the use of renewable energy sources such as wind, solar, and hydroelectric power.
It is essential to address the urgent environmental challenges we face, including climate change, air and water pollution, and the depletion of natural resources. It also offers opportunities for creating new jobs, promoting sustainable economic growth, and improving public health.
The Green Transition involves a range of initiatives, policies, and actions that can be taken at various levels, from individual actions to national and international policies. These can include energy efficiency measures, renewable energy development, green transportation options, sustainable agriculture practices, and circular economy models that aim to reduce waste and increase resource efficiency.
A few examples of these initiatives and policies include:
The Green Transition is an ongoing process, and it requires the participation and collaboration of individuals, businesses, governments, and other stakeholders. While there are challenges and costs associated with this transition, the benefits of a sustainable and low-carbon economy far outweigh these costs in the long run.
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