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♤ The concept of green economy lacks an internationally agreed definition or universal principles. The Rio
+ 20 outcome document identifies green economy in the context of sustainable development and poverty eradication and it affirms that approach will be different in accordance with the national circumstances and priorities for each country.
♤ Accordingly, green economy in India is seen in the context of sustainable development and inclusive economic growth including poverty eradication. The Government endeavors to address all the three dimensions of sustainable development (social, economic and environmental) in a balanced manner.
♤ Green economy focuses specifically on the fundamental changes that are required to ensure that economic systems are made more sustainable. Green Economy focuses on the ways to overcome the deeply rooted causes of unsustainable economic development.
♤ A Green Economy is one whose growth in income and employment is driven by public and private investments that reduce carbon emissions and pollution, enhance energy and resource efficiency, and prevent the loss of biodiversity and ecosystems.
♤ The Green Economy is about sustainable energy, green jobs, low carbon economies, green policies, green buildings, agriculture, fisheries, forestry, industry, energy efficiency, sustainable tourism, sustainable transport, waste management, water efficiency and all other resource efficiency.
Transition to green economy
Three priorities in transition of economy to green economy are
♤ decarbonizes the economy;
♤ commit the environmental community to justice and equity; and
♤ conserve the biosphere.
A key step forward consists in changing our conception of growth and prosperity - achieving more with less and creating real wealth and quality of life.