Green growth

Green growth is a term to describe a path of economic growth that uses natural resources in a sustainable manner. It is used globally to provide an alternative concept to typical industrial economic growth. See also green economy.

Green growth as a policy strategy

The term green growth has been used to describe national or international strategies.

Green growth, as agreed at the fifth Ministerial Conference on Environment and Development in Asia and the Pacific, is a strategy for achieving sustainable development. It is focused on overhauling the economy in a way that synthesizes economic growth and environmental protection, building a green economy in, which investments in resource savings as well as sustainable management of natural capital are drivers of growth. An economy which is in closer alignment with sustainable development objectives provides opportunities for using financial resources effectively to meet the development needs and reducing the vulnerability of socioeconomic systems to environmental change and resource constraints.

Green growth strategies can help economies and societies become more resilient as they work to meet demands for food production, transport, housing, energy, and water. Strategies can help mitigate the impacts of adverse shocks by reducing the intensity of resource consumption and environmental impacts, while alleviating pressure on commodity prices. Green growth also offers competitive advantages to those countries that commit to policy innovations. The global market, for green goods and services is vast and growing fast, offering countries the dual benefit of prosperity and job creation.^[1]

Organizational efforts on green growth

UNESCAP: In 2012, the United Nations Economic and Social Commission for Asia and the Pacific released the Low Carbon Green Growth Roadmap for Asia and the Pacific to explore the opportunities that a low carbon green growth path offers to the region. The roadmap articulates five tracks on which to drive the economic system change necessary to pursue low carbon green growth as a new economic development path.^[2]

OECD: In 2011 the OECD published a strategy towards green growth.^[3]

UNEP: In 2008, the United Nations Environment Programme (UNEP) led the Green Economy Initiative.^[4]

World Bank: In 2012, the World Bank published its report "Inclusive Green Growth: The Pathway to Sustainable Development".^[5]

International Chamber of Commerce (ICC): In 2010, ICC launched the unique global business Task Force on Green Economy resulting in the Green Economy Roadmap, a guide for business, policymakers and society published in 2012.^[6]^[7]

Organizations devoted to green growth

Global Green Growth Institute: Founded in 2010 by Korean President Lee Myung-bak and later GGGI was first launched as a think tank in 2010 by Korean President Lee Myung-bak ^[8] and was later converted into an international treaty-based organization in 2012 at the Rio+20 Summit in Brazil.^[9]

Green Growth Knowledge Platform: In January 2012, the Global Green Growth Institute (GGGI), Organisation for Economic Co-operation and Development (OECD), United Nations Environment Programme (UNEP), and World Bank signed a Memorandum of Understanding to formally launch the Green Growth Knowledge Platform (GGKP).^[10] The GGKP's mission is to enhance and expand efforts to identify and address major knowledge gaps in green growth theory and practice, and to help countries design and implement policies to move towards a green economy.^[11]

National green growth efforts

Korea: In Korea, green growth has become the national strategy model. Korean President Lee Myung Bak has embraced a vision of 'Low Carbon, Green Growth' as the core of the country's new vision on the 60th anniversary of the founding of the nation.^[12]
USA: In the United States, President Barack Obama has taken several steps toward green growth. President Obama believes that by investing in the future energy production will not only reduce the dependency of the foreign energy sources but will also create jobs and 'clean-energy economy'. President Obama has a goal of installing 10 gigawatts of renewable projects by 2020, doubling the wind and solar energy production by 2025, and to develop such policies, which will help to shape the nation's green economy.^[13]

References

↑ Green Growth, Resources & Resilience
↑ http://www.unescap.org/esd/environment/lcgg/
↑ Green growth and sustainable development - Organisation for Economic Co-operation and Development
↑ http://www.unep.org/greeneconomy/ Archived 27 September 2011 at WebCite
↑ Sustainable Development - Getting to Inclusive Green Growth
↑ ICC Green Economy Taskforce
↑ ICC Green Economy Roadmap
↑ "About GGGI: Organizational Overview". Global Green Growth Institute. Retrieved 16 July 2014.
↑ "Green Growth for All: Converting the Global Green Growth Institute". United Nations Conference on Sustainable Development. Retrieved 16 July 2014.
↑ 2012 Annual Conference | Green Growth Knowledge Platform
↑ Pages - About - Green Growth Knowledge Platform
↑ "Address by president Lee Myung-bak on the 63rd anniversary of national liberation and the 60th anniversary of the founding of the republic of korea". Cheong Wa Dae. 2008-08-15. Retrieved 2009-06-28.
↑ "Advancing American Energy". The White House. Retrieved 2015-04-25.