Economics Environmental Externalities Questions
Green growth refers to a sustainable economic development model that aims to achieve economic growth while minimizing environmental degradation and promoting ecological sustainability. It emphasizes the decoupling of economic growth from resource consumption and environmental pollution. The concept recognizes that traditional economic growth models often lead to negative externalities, such as pollution, depletion of natural resources, and climate change. Green growth seeks to integrate environmental considerations into economic policies and practices, promoting the use of clean technologies, renewable energy sources, and resource-efficient production processes. It also emphasizes the importance of investing in green sectors, such as renewable energy, sustainable agriculture, and eco-tourism, which can create new job opportunities and contribute to long-term economic prosperity. Overall, green growth aims to achieve a balance between economic development and environmental protection, ensuring a sustainable and resilient future for both current and future generations.