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Green Economy

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A green economy is one, which aims at reducing the environmental risks and ecological scarcities. The prime aim is to increase the social equality and human well being without compromising with environment. The concept of Green economy does not believe in deforestation and wasting of resources for development purposes. The idea of green economy is sustainable development so that the future generations can also be benefited from the efforts of present generation. Green economy advocates the principle that it is the moral responsibility of present generation to make sure that there are plenty of resources available for future generations.

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A more holistic approach is adopted to define the term ‘green economy’ in which economy is also considered a part of eco system. Many experts have believed that the day is not far when the environment and ecological system of a nation would also be considered as asset and would be used for accounting purposes to calculate the wealth of nation. Karl Burkart has defined the green economy based on 6 important sectors, these are: -

  1. The use of renewable energy (solar energy, wind energy etc)
  2. The concept of green building (focus on water efficiency, electricity savings)
  3. The notion of clean transportation (electric vehicles, use of public transport etc)
  4. Water management (water purification and rain water harvesting)
  5. Waste management (recycling of solid waste and sustainable packaging of products)
  6. Land management (afforestation, land management, organic agriculture)

It is a relatively new concept and is mainly prevalent in developed nations, government in many countries is trying to focus on environment and atmosphere because they have understood that day is not far when next war could be possibly fought due to green resources.

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