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Thursday, 19 February 2015 06:36





Green Economy

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.

A feature distinguishing it from prior economic regimes is the direct valuation of natural capital and ecological services as having economic value and a full cost accounting regime in which costs externalized onto society via ecosystems are reliably traced back to, and accounted for as liabilities of, the entity that does the harm or neglects an asset.

"Green" economists and economics-

"Green economics" is loosely defined as any theory of economics by which an economy is considered to be component of the ecosystem in which it resides (after Lynn Margulis). A holistic approach to the subject is typical, such that economic ideas are commingled with any number of other subjects, depending on the particular theorist. Proponents of feminism, postmodernism, the ecology movement, peace movement, Green politics, green anarchism and anti-globalization movement have used the term to describe very different ideas, all external to some equally ill-defined "mainstream" economics.

The use of the term is further ambiguated by the political distinction of Green parties which are formally organized and claim the capital-G "Green" term as a unique and distinguishing mark. It is thus preferable to refer to a loose school of "'green economists"' who generally advocate shifts towards a green economy, biomimicry and a fuller accounting for biodiversity.

Definition of a Green economy-

Karl Burkart defines a green economy as based on six main sectors:

Renewable energy (solar, wind, geothermal, marine including wave, biogas, and fuel cell),

Green buildings (green retrofits for energy and water efficiency, residential and commercial assessment; green products and materials, and LEED construction)

Clean transportation (alternative fuels, public transit, hybrid and electric vehicles, carsharing and carpooling programs)

Water management (Water reclamation, greywater and rainwater systems, low-water landscaping, water purification, stormwater management)

Waste management (recycling, municipal solid waste salvage, brownfield land remediation, Superfund cleanup, sustainable packaging)

Land management (organic agriculture, habitat conservation and restoration; urban forestry and parks, reforestation and afforestation and soil stabilization)

The Global Green Economy Index,published annually by consultancy Dual Citizen Inc., measures and ranks the perception and performance of 27 national green economies. This index looks at 4 primary dimensions defining a national green economy as follows:

Leadership and the extent to which national leaders are champions for green issues on the local and international stage
Domestic policies and the success of policy frameworks to successfully promote renewable energy and green growth in home market Cleantech Investment and the perceived opportunities and cleantech investment climate in each country Green tourism and the level of commitment to promoting sustainable tourism through government.