What is a Green Economy ?

UNEP defines a green economy as one that results in improved human well-being and social equity while significantly reducing environmental risks and ecological scarcities. Simply put a green economy can be thought as one which is first and foremost low carbon, resource efficient and socially inclusive.

A green economy is therefore based on the development of green energy technologies and the so-called green practices. Green energy often referred to as clean energy includes renewable energy sources and clean energy
technologies that reduce GHG emissions relative to other sources of energy
 e.g., solar photovoltaic, 
wind turbine,
geothermal 
energy, tidal energy, bioenergy as well as landfill gas. A green economy regime as opposed to traditional economies pledge for the internalization of environmental goods through the direct valuation of the natural capital and ecological services. 


Green economy: A Path towards sustainability

The concept of green economy has received significant international attention over the past few years from a variety of international organizations, national governments, think tanks and non-government organizations. Despite a lack of an international consensus on its definition and universal principles, green economy is highly regarded as a powerful tool that can be help achieve sustainable development. Promoting carbon-conscious principles, encouraging low-carbon strategies through energy efficient technologies and energy conservation with the reduction of energy-based fossil fuels consumption, investing in renewables remain a viable set of policy prescription towards a low carbon economy and environmental stewardship.