A World Heading Towards a Green Economy

What is a Green Economy?

A green economy can be seen as an alternative vision for growth and development, which can generate growth and improvements in people's lives in a way that is consistent with sustainable development. A green economy promotes a triple bottom line: maintaining and promoting economic, environmental and social well-being.

The current model of economic growth is focused on the GDP growth above all other goals. Although this system has been improved incomes and reduce poverty for hundreds of millions involves social costs, environmental and economic significant and potentially irreversible. Natural resources are rapidly being drawn downs ecosystem services degraded or used unsustainably.

The gap between rich and poor is increasing - between 1990 and 2005, income inequality (measured as the difference between people with higher incomes and lower) increased by more than two thirds of the countries. The persistence of poverty and environmental degradation can be attributed to a number of market and institutional failures that make the economic model much less effective than it otherwise would be to bring the goals of sustainable development.

These market and institutional failures are well known economist, but little has been done to solve them.

For example, there will be inadequate mechanisms to ensure that polluters pay the full cost of their pollution. - Which means that markets are not systemic view of the intrinsic value of the services provided by nature, such as water filtration or coastal protection.

And economic policy is determined to thwart those who exercise power, with strong vested interests, and rarely capture the voice and perspective of risk. A green economy is a challenge to solve these problems through a series of institutional reforms and regulatory tax and expenditure-based economic pollution. A "market economy" alone cannot provide public goods, like efficient electricity grids, sanitation or public transportation.

What does a Green Economy look like?

The transition to a green economy has a long way to go, but several countries demonstrate national leadership by adopting a "green growth" or "low carbon" economic strategies. And there are many examples of successful, large-scale programs that increase productivity and growth and do it in a sustainable way. For example:

* The Republic of Korea has adopted a national strategy and a five-year plan for green growth for 2009-2013. Distributions of 2 percent of GDP investment in various green areas, such as renewable energy, energy efficiency, clean technologies and water. The Government has also established the Global Green Growth Institute, which helps countries (mainly developing countries) to develop strategies for green growth.

* In Mexico City, crippling congestion resulted in a great effort to promote Bus Rapid Transit (BRT), a sophisticated system that uses bus lanes on city streets. Major public investment in BRT has reduced travel time; air pollution and improving access to public transport for less afford cars. This remarkable success is replicated in several cities in Mexico and has led to investment by the federal government for public transport for the first time in the urban cities.

* China invests more than any other country in renewable energy. The total installed wind power capacity by 64 percent in 2010. Growth will be achieved through a national, clean energy as a key market in the near future, and where China wants a competitive advantage driven.

* Namibia is managing its natural resources to produce economic, social, and environmental benefits. Local communities across the country have the right to use and enjoy the benefits of the use of animals and other natural resources within the boundaries of protected areas of "communal conservancies". A financial incentive for the sustainable management of these areas is food and employment for hundreds of thousands of Namibians in rural areas. More than half of the jobs are held by women, and wildlife populations have augmented.

* Sri Lanka's Significant thrust areas in this is to touch on the main areas in a green economy such as green buildings, manufacturing and industry, sustainable transport, efficient and effective use of resources i.e. water, forests, fisheries, agriculture, tourism, energy supply. As this is an area which the entire world including Sri Lanka is questing, this will be a landmark event in the country and a beginning of a series of such events which will help to shape the country's future and steer it to a sustainable path.

Companies are increasingly moving towards a green economy. For example, the carpet company Interface