What Is a Green Economy?
A Green Economy refers to an economy that promotes sustainability and efficiency while reducing risks to the environment and cutting down on practices that harm the planet’s ecosystem. According to unenvironment.org, a Green Economy features low carbon emission, efficient usage of resources, and is socially inclusive.
In this sort of economy, natural capital and ecological services receive treatment as economic values. Public and private investments drive growth in employment and income that manifests in the areas of assets, infrastructure, and commercial activities that promote reduced pollution and low carbon emissions. They also allow optimal efficiency of resources, superior energy efficiency, and preservation of biodiversity and ecosystem services.
Six main sectors uphold a Green Economy, and they are the areas upon which a Green Economy rests. These six sectors make sure that the economy continues on its part of sustainability and efficiency; they are as follows:
1. Water Management
2. Renewable Energy
3. Land Management
4. Waste Management
5. Sustainable Transport
6. Green Buildings
The above sectors remain as the main areas of every Green Economy, defined by Karl Burkart, the Director of Media and Technology at the Leonardo DiCaprio Foundation.
Top Reasons Why You Should Embrace the Green Economy
You might be wondering why and how adopting a Green Economy can make a difference to your brand’s future. And that’s why we’ve curated this list reasons which explain why you should be embracing the Green Economy. They’re here to enlighten you on such beliefs and let you know that this approach offers holistic, long-term advantages.
Improved Health of the Population
An economy that preserves the ecosystem, encourages biodiversity and cuts down on environmental hazards will experience improved health of its people. This improvement, in turn, leads to a significant increase in productivity, efficiency, easy access to healthcare, and low cost of healthcare. These features are one of the factors that attract investors who can help to boost the economy further.
Sustainability becomes feasible with a healthy population, and this can benefit your brand in relation to both consistency and productivity.
Another benefit that comes with the Green Economy is job creation. The creation of jobs in the economy will not just be limited to a skill type; it encompasses low, middle, and high skilled job levels. Although this benefit stays as a near-term benefit of the Green Economy, it ensures a noticeable drop in the rate of unemployment.
It is also essential to keep in mind that all of these jobs that will be made available are environmentally friendly, in addition to promoting overall sustainability in production.
Growth of Clean and Renewable Energy Sectors
Embracing the Green Economy leads to the development of clean energy sectors. The growth of these sectors, in turn, boosts creativity and countless innovations in all the industries affected. What’s more, the utilization of clean energy leads to improvement and a boost in the health of the population and welfare of the environment.
Energy security becomes improved; jobs and investment opportunities also begin to increase as a result of an eco-friendly source of energy in the economy. Another good point in favour of the Green Economy is that Clean and Renewable Energy is an effective example of sustainable business development.
Reduced Poverty and Social Inequality
These factors arise as a result of the aforementioned points. A drop in the unemployment rate and the creation of good jobs in conjunction with easy and cheap access to healthcare can lead to a massive decrease in poverty and economic hardship. Due to the increase and even distribution of the income of the population, poverty diminishes as people are better able to maintain a good standard of living.
As a result of the improvement in the standard of living, the gap between classes in society also begins to narrow, reflecting the positive nature of The Green Economy.
Improvement in Training and Skill
The Green Economy brings about several new ways and perspectives of thinking and working, and consequently, the demand for new skills begins to rise. These new ways make sure that the population has several options to choose from when it comes to selecting a profession and source of livelihood. What’s more, vocational training leads to improvement and new training methods.
All of these diversities that arise from the Green Economy ensure rapid growth for businesses and even lead to healthy competition that, in turn, benefits the populace. The development of various skill levels and training also facilitates sustainability and efficiency that will benefit your brand in the ways you deem fit.
In exploring The Green Economy, it’s clear that the benefits are plentiful and improvement in skill and training, reduction in poverty and social inequality, job creations as well as the growth of clean energy sectors.
What’s more, it’s essential to note that choosing to embrace this economy is a gradual process which needs to be implemented over time. And, by doing so, you will be building a sustainable brand with strong foundations and a bright future ahead.
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