GREEN ECONOMY: FUTURE OF WORLD ECONOMY

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Photo by Kyle Glenn on Unsplash

Green Economy is all about having such an economy that focuses on sustainable development without degrading the environment. It ensures that people and planet both grow simultaneously. In fact, the green economy is the need of the hour. It is only through the green economy that the environment can be protected and preserved. Our environment is the main source of resources and every other thing that makes life easier and promotes growth. So, in simple terms, it can be said that green economy provides the vision for economic growth as well as improves the social wellbeing of the people. It mainly aims to use environmental resources efficiently such that there is a less environmental impact.

The green economy is what every country should try to implement. It not only helps inefficient use of resources but makes the world a better place to live in. Green economy strongly promotes the concept of Triple Bottom Line. The focus of this concept is making corporates aware of their responsibility and ensuring the growth of individuals and the environment as a whole. Triple Bottom Line theory focuses on 3P’s — profit, people and planet. It makes sure that business houses are not driven by their profit motive alone. Rather they should opt for social responsibility and focus on the upliftment of people and development of society. India as a developing country with 2nd largest population is among those countries for whom the green economy is a must. Over the years various initiatives have been taken and swiftly implemented for promoting green economy with people’s participation.

These initiatives have not only led to increasing in our forest covers but also helped in improving our mountain ecology and rapid additions in the wildlife. India has recently made two major global commitments: the 2030 Global Development Agenda (popularly known as the Sustainable Development Goals) and the ratification of the Paris Agreement, which aims for the holistic well-being of all, today and in the future, without surpassing the natural boundary limits of the environment. India has definitely made some massive changes in its road of development. Although such implementations of initiatives have been taken up, however, the road ahead towards a green economy is a long one. The vision towards a green economy is clouded by various challenges. Its way of implementation and chances of success is unpredictable. Moreover, in a developing country like India where poverty is high & standards of living are low, introducing the concept of the green economy is a mammoth task.

To put it simply, it will take years to successfully achieve a green economy. Right now, what is needed most is awareness among every one why green economy and sustainable development is the key to a better tomorrow. Also, the challenges faced by it is needed to be addressed and actions should be taken for its successful implementation.

Contributed By- Nayana Nandi, Content Writer at Mitti Ke Rang

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A social venture dedicated to empowering widows and single women to overcome poverty and dependency. https://mittikerang.myshopify.com

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