The Importance of a Green Economy for Global Sustainable Development
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The Importance of a Green Economy for Global Sustainable Development

The green economy is a necessary trend for the global status quo. Governments must also fundamentally reform their policies. It is not easy to achieve this goal, but if we want to move towards sustainable development, the green economy will become key.
Published: Sep 13, 2022
The Importance of a Green Economy for Global Sustainable Development

A green economy refers to a sustainable economy intending to protect the environment and ecology. The Green Economy Report believes that to achieve a green economy, economic development must not only be efficient but fair. Equity means that countries must ensure low carbon, resource-efficient use, and social inclusion as they develop their economies. Green economy concepts and strategies such as energy conservation and carbon reduction, the use of innovative applications of clean technology, the use of integrated systems and new business models and processes to improve the efficiency of resource use, and the sustainable design and production of resource recycling and reuse are expected to receive more attention and become the A powerful engine to revive the post-pandemic economy.

What is a Green Economy?

Broadly speaking, it refers to economic activities that can develop and promote human prosperity and quality of life without causing adverse damage or impact on the earth's ecological environment, all of which belong to the scope of the green economy. More specifically, clean technologies that can save energy resources and reduce pollution (including wind power, solar power, hydropower, geothermal, biomass fuels and other renewable energy sources, electric vehicles, green buildings, smart grids, carbon capture and storage, technologies such as water saving and wastewater recycling). Environmental protection concepts focus on making resources recyclable, waste recyclable design, Lean Manufacturing, and emphasis on environmental protection, social responsibility, and corporate governance (ESG), through effective management tools, digital technology or innovation of the business model, production, marketing, and service activities. Improving efficiency and eliminating waste is in line with the spirit of the green economy and deserve personal support and the attention of government enterprises.

Why Green Economy Can Effectively Revitalize the Post-pandemic, Economy?

  1. It can reduce the excessive consumption of consumers and increase the purchasing power of real needs; it is easy to conduct interactive transactions through efficient social networking sites, creating more market opportunities and revenue for enterprises.
  2. By improving resource use and operating efficiency, enterprises can reduce waste, reduce costs, create more profits, and reduce the negative impact of the epidemic.
  3. Because of more emphasis on environmental protection, social responsibility, and management, enterprises will be more active in digital transformation and make more use of long-distance services (such as marketing, maintenance, teaching, medical care, etc.) that do not require physical contact. New green business models and consumption patterns can reduce operating costs and uncover more unprecedented business opportunities.
  4. Fulfilling corporate social responsibilities can enhance corporate image and customer loyalty, attract talent and investment, and help improve competitiveness and performance. The prospects and development opportunities of the green economy will continue to attract more investment in clean technology and management innovation, bringing considerable growth momentum to the economic recovery during and after the epidemic.

How should individuals, businesses, and governments implement green economy actions?

The promotion of green actions will help protect the earth's ecological environment, mitigate the impact of climate change, avoid the deterioration of the human living environment, protect the physical and mental health of employees, and promote workplace safety and morale.

  • Personal: Understand the importance of environmental protection, cultivate green consumption habits, practice energy conservation and carbon reduction in life, purchase and use high-quality environmentally friendly products, and reduce meat consumption to reduce greenhouse gas emissions.
  • Enterprises: Take a comprehensive view of the overall situation, focus on long-term strategies, and comprehensively consider from the perspective of system integration of individual organizations, supply chains, industries, urban areas, etc., and formulate green vision and development strategies suitable for the enterprise, and quickly transform into a green enterprise. Review operations in detail, identify greening methods that can use clean technology to break through the epidemic, eliminate waste, design products that recycle resources, and implement necessary changes.

Develop digital and green innovations that create new markets: Moving products or services from physical to online to improve energy and resource efficiency.

Government: Formulate clearer green policies and implementation blueprints, continue to reward investment and research and development in the green economy such as clean technology and green buildings, strictly implement green procurement of public works, and further establish and integrate resource recycling and waste treatment and reuse systems. Develop more active energy-saving and carbon-reduction incentives to encourage people or enterprises to continuously save electricity and water. Encourage users to subscribe to green electricity such as solar energy, and continue to improve the independent ability of domestic renewable energy. Promote industry-university cross-industry cooperation, give full play to the collective wisdom, accelerate the promotion of greening policies and infrastructure, and give full play to and share the expected benefits of the green economy as soon as possible. Actively guide industries seriously affected by the epidemic to upgrade and transform into green enterprises, so that more industry players can enjoy the benefits of a green economy and jointly create environmental benefits that are beneficial to all mankind.

The huge green business opportunities and recovery momentum during and after the epidemic are more worthy of our attention and grasp. In the future, the greening efforts and achievements of governments and enterprises in various countries will inevitably affect the sustainable survival of the earth. It is suggested that enterprises must confirm greening goals and visions as soon as possible. Plan comprehensive greening strategies and implementation plans in detail, clarify organizational rights and responsibilities, fulfill social responsibilities for environmental protection, and improve corporate governance. And establish a good image of greening innovation, effectively grasp the development opportunities after the epidemic, and achieve the sustainable business goal of benefiting others and self.

Published by Sep 13, 2022 Source :ctee

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