Throughout history, each time mankind has needed to move forward, there has always been the problem of the path to follow. Currently, we need a system that will preserve the future for the coming generations whilst ensuring financial stability.
Our day to day living, activities, and way of life has placed the planet under immense and unbearable stress. And, that’s why we have to implement and follow an alternative economy to continue enjoying the world as we know it.
Considering the importance of such and recognising we’re a digital marketing agency with a social responsibility, we’re exploring the green economy and its beneficial nature for both individuals and business.
So, let’s dive in!
The Green Economy
This term refers to the sort of economy that aims at sustainable development while preserving the environment. This type of economy operates on attributing the same value to the environment and ecosystem, as is accorded other aspects of the economy.
According to the World Resources Institute, A Green Economy is an economy that can generate growth and improvements in people’s lives in ways that are consistent with sustainable development. It promotes three things: Environment Wellbeing, Economic Well Being, and Social Wellbeing.
What’s more, five principles guide the vision of a green economic future and are:
The Justice Principle:
A Green Economy is all about equity within generations as well as between them. It boosts the enablement of social enterprises and livelihoods that are sustainable. The Green Economy is characterized by solidarity and social equity; this empowers trust and supports human rights, workers’ rights, and minorities.
The Efficiency and Sufficiency Principle:
A Green Economy aims at supporting sustainable production and consumption. It is a resource-conserving, low carbon, circular, and diverse economy, which means that new models of economic development are accepted. These models deal with the problems of bringing about prosperity inside planetary boundaries.
The Wellbeing Principle:
This economy helps everyone create and enjoy prosperity. The Green Economy creates opportunities for green jobs, livelihoods, and enterprises. It also helps to grow wealth that will support wellbeing. It is important to note that wealth is not limited to finances; it extends to natural, social, physical, and human capital.
The Planetary Boundaries Principle:
Nature is taken care of, invested in, safeguarded, and restored. In a green economy, biodiversity is encouraged, grown, protected, and restored as well as that of natural systems. Our soil, water, and air are protected and preserved. It considers the limited sustainability of natural, human, social, and physical capitals and avoids the loss of these capitals.
The Good Governance Principle:
Accountable, integrated, and resilient institutions guide the Green Economy. Collaborative and integrated organizations back the economy. These institutions provide evidence-based adaptive strategies for the economy.
So, why is the green economy our future?
The Green Economy focuses not only on the environment or only on developed countries. It is also of great benefit to developing countries. This sort of economy maintains and boosts the value that the lower class derives from forest harvest, agriculture, fisheries, and other activities that depend basically on a healthy environment.
What’s more, this form of economic system provides benefits in a multitude of ways including:
Reduction of energy poverty:
The Green Economy provides distributed renewable energy systems. These energy systems come at an easily affordable and low cost. Now, if this works as expected, it will help shield the poor from the impacts of unchecked climate change, ocean pollution, and desertification, amongst others.
Contribution to addressing global challenges:
Global challenges like loss of biodiversity, desertification, and widespread climate change are a cause for serious concern. The Green Economy will help in addressing these challenges. Since it is an economy that places a high value on the environment, the Green Economy is dedicated to protect and restore the environment.
Potential opening up of new export markets:
With countries shifting to embrace the Green Economy, new markets for biofuels will open up. Not only that, renewable energy innovations and technologies like wind turbines and solar panels will also undergo increases in demand.
A Green Economy is full of benefits that encompass both humankind and the planet we live on; this mutual benefit is what we need.
If we are going to survive as a species and continue to experience life as we know it, then it’s clear that we need to fundamentally change our ways. By adopting the green economy, we can practice sustainability whilst enjoying prosperity and financial stability.