Sustainable Development Goals Through the Triad of Green

Economy, Growth, and Deal

Summera Khalid

, Inna P. Stecenko

, Zulaykho A. Kadirova

, Aigul R. Nurieva

and Sulkhiya S. Gazieva

Tashkent State University of Oriental Studies, Tashkent, Uzbekistan

Transport and Telecommunication Institute, Tashkent, Uzbekistan

Institute of Philology and Intercultural Communication, Kazan Federal University, Kazan, Russia

Keywords: Green Economy, Sustainable Development, New European Green Deal Sustainability Metrics, Economic

Processes, Green Transformation, Pragmatic Solutions.

Abstract: In a world facing the intersecting challenges of socio-economic complexities and environmental imperatives,

the study delves into the concept of the "green economy" and its interconnections with key ideas in the context

of contemporary socio-economic and environmental challenges. The primary objectives are to assess the

relevance of these concepts in shaping development policies and to offer practical solutions for socio-

economic progress. The study begins by examining various definitions and foundational principles that

underpin the prominence of "greening" economic processes in current development discussions. It elucidates

the emergence of the green economy as a novel phenomenon, dissects related terms like "green growth," and

explores the guiding principles essential for their realization, along with the mechanisms of green

transformation. A systematic approach is employed to present a range of indicators and measures for both the

green economy and green growth, serving as navigational tools towards sustainable development. These

metrics are drawn from reputable organizations, including the United Nations, UNEP, UNCTAD, UN ESCAP,

UN FGG, OECD, the European Union, and the World Bank, and supplemented with insights from individual

authors and nations, highlighting diverse viewpoints. The study's culmination centres on the New European

Green Deal and its pivotal role in aligning with the Sustainable Development Goals of the current decade.

This alignment represents a significant stride towards harmonizing global aspirations with regional initiatives,

emphasizing the interconnectedness of sustainability objectives. It also provides a comprehensive

understanding of the expectations and opportunities associated with prioritizing the green economy, while

also addressing inherent vulnerabilities and threats stemming from unwavering reliance on this evolving

concept. In conclusion, this study bridges the theoretical and practical realms, offering a multifaceted

examination of the green economy's significance and its potential to shape the future of socio-economic

development. It presents both the promise and the perils of embracing this transformative concept,

contributing to a nuanced understanding of its complexities.

1 INTRODUCTION

In the realm of development discourse, the past few

decades have witnessed an ever-growing lexicon of

terms adorned with the adjective "green." Phrases like

"green economy," "green growth," and "green deal"

https://orcid.org/0000-0002-1769-7110

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https://orcid.org/0000-0001-9015-0771

have emerged, ushering in a new era of attention to

the intricate relationship between the economy and

the biosphere, with a particular spotlight on the role

of the Earth's lush plant life. This profound shift, often

called the "greening" of development strategies and

policies, transcends boundaries, encompassing

various territorial systems and economic sectors. It

1376

Khalid, S., Stecenko, I., Kadirova, Z., Nurieva, A. and Gazieva, S.

Sustainable Development Goals Through the Triad of Green Economy, Growth, and Deal.

DOI: 10.5220/0012967100003882

Paper published under CC license (CC BY-NC-ND 4.0)

In Proceedings of the 2nd Pamir Transboundary Conference for Sustainable Societies (PAMIR-2 2023), pages 1376-1385

ISBN: 978-989-758-723-8

has become a prominent topic of discussion,

especially within the realm of international politics,

as we grapple with the means of translating the

abstract notion of sustainable and balanced

development into concrete reality.

2 RESULTS AND FINDINGS

Amidst these discussions, the concept of a "New

Green Deal" has reverberated on a global, European,

and national scale, representing a collective aspiration

to harmonize our economic ambitions with

environmental stewardship. At its core, the various

facets of the green economy find inspiration in the

remarkable process of photosynthesis, occurring

beneath the emerald canopy of leaves. Here, through

the magic of chlorophyll, sunlight, and water

intermingle, giving birth to natural substances that

humans harness, refine, and transform into an array

of products for consumption or further

industrialization. This natural alchemy—a renewable

and reproducible method of transmuting the elements

of nature and the sun's radiant energy into materials

for production and consumption—has long sustained

our civilizations. Yet, it now stands at a crossroads,

beset by the mounting threats posed by our industrial

ingenuity, particularly since the onset of the Industrial

Revolution.

As we delve into this exploration of the

"greening" of development and its multifaceted

implications, we embark on a journey through the

verdant corridors of our past, our present, and the

future we aspire to shape, where our quest for balance

with the natural world beckons. The incorporation of

"green" into economic discourse serves as a poignant

symbol, directing our gaze to the paramount

importance of preserving the natural world within our

economic endeavours.

This study embarks on a journey to dissect the

metamorphosis of the "green economy" concept and

its interplay with related notions, illuminating their

profound implications for policy formulation and the

pragmatic resolution of socio-economic challenges.

Within its informative tapestry, we traverse three

distinctive layers: first, the emergence of eco-centric

economic processes as a contemporary phenomenon;

next, the intricate definitions of "green economy" and

"green growth"; and finally, the guiding principles for

the implementation of these transformative eco-

conscious paradigms. Further, the study unveils a

treasury of measures and metrics, shedding light on

the elusive realm of green economy and green growth

while forging vital connections with the overarching

ideals of sustainable development. Finally, in a

crescendo of insight, it unveils the latest masterpiece

in the environmental symphony - the European Green

Deal. Drawing from a mosaic of documents and

literature, this paper unravels the intricate tapestry of

"green economy," "green growth," and "green deal"

within the context of "sustainable development goals"

- Pearce D., & et. al. (1989) - Janicke M. (2012). It

orchestrates a systematic panorama of diverse

initiatives, ranging from the official to the political,

and the institutional. This scholarly expedition seeks

to bridge the realms of theory and practice, offering a

fresh perspective on the pursuit of sustainability.

3 EMBRACING

SUSTAINABILITY:

TRANSFORMING ECONOMIC

PROCESSES WITH GREEN

INITIATIVES

Throughout human history, our connection with

nature has been essential. We've used natural

elements for agriculture and sustenance - Georgeson,

L, & et. al. (2017). However, as industrialization and

urbanization surged, our exploitation of nature

intensified, leading to environmental degradation.

The Industrial Revolution and free-market growth

exacerbated this issue. Environmental concerns

gained traction in the 1960s and led to the emergence

of sustainable development - Chou J R. (2021). This

concept evolved into eco-development and the "green

economy," emphasizing the environment. Related

ideas like "green growth" and "green governance"

gained prominence. Depletion of natural resources

and climate change threats make it imperative to

protect nature and adopt "greening" activities

spanning economics, society, and politics - Brink P T

(2011).

"Greening the economy" shifts away from

traditional industrial development toward

sustainability. Illustrated in Table 1, this conceptual

hierarchy unveils the interconnectedness of the green

economy it aligns with other frameworks for

sustainable development. These concepts converged

during the 2008-2011 global financial crisis and

remain crucial today. During the crisis, the green

economy gained political attention. The United

Nations Environmental Programme (UNEP)

proposed 'green stimulus packages' in 2008 to

promote the green economy. Many nations adopted

this concept as a recovery strategy.

Sustainable Development Goals Through the Triad of Green Economy, Growth, and Deal

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Table 1: Deciphering the Green Economy Concept

Hierarchy: Toward Sustainable Solutions (complied by

authors)

The Green New Deal A Catalyst for

Transforming Our Future

Green Growth A Key Contributor to a

Sustainable Future

Green economy Pathway to Achieving

Environmental

Sustainabilit

Sustainability

develo

ment

Aims to restore, renew,

and ecos

stems

In 2008, UNEP initiated the Green Economy

Initiative, culminating in the 2009 'Global Green New

Deal' report. By 2020, the green economy concept

had evolved into a guiding force, addressing

economic recovery, poverty alleviation, and climate

change. This transformative journey gained

momentum, solidifying the green economy as a

catalyst for sustainable development by 2019. In 2020,

it emerged as a beacon of resilience, integrated into

nations' recovery strategies. The year 2021 marked a

pivotal juncture, but it was during 2011–2012 that the

green economy concept experienced a meteoric rise,

involving various international institutions and

national teams. Since 2013, practical implementation

and progress assessment have gained momentum.

During this dynamic period, the United Nations

issued a resounding endorsement of the green

economy concept, touting it as a potential avenue not

only to alleviate the global financial crisis but also to

address economic recovery, food security,

environmental degradation, and threats like water and

energy scarcity and climate change. The release of

UNEP's landmark 2011 Green Economy Report

etched a powerful definition of the green economy

into the annals of sustainability, inspiring analogous

formulations championed by diverse international

organizations and research centers. This evolution

underscored the enduring relevance and

transformative potential of the green economy

concept. A multitude of international institutions and

national teams contributed to this fervor, including

UN World Conferences, various UN Agencies

(notably the UN Environment Programme, UNEP),

the OECD, the World Bank, the European Union, and

specialized institutions dedicated to green economy

principles. National institutions also actively engaged

in research and exploration of the green economy

concept, culminating in the development of

methodologies to assess progress and measure

outcomes. The chronological evolution of key green

economy concepts and ideas is summarized in Table

Table 2: pioneering pathways: landmark moments in global

and European green economy advancement

Years Milestones

1972 A Landmark Declaration at the UN

Conference on the Human

Environment underscores the

irreplaceable value of our singular

lanet.

1987 The World Commission on

Environment and Development

(WECD) presents a defining

document titled "Our Common

Future," heralding a new era of

environmental awareness

1989 The insightful "Blueprint for a Green

Economy," Report 1, charts a path

toward sustainable economic

ractices.

1991 Building upon this foundation,

"Blueprint for a Green Economy,"

Report 2, further refines the strategies

for achieving an environmentally

conscious econom

1992 The UN Conference on Environment

and Development (UNCED), known

as the Rio Earth Summit, introduces

"Agenda 21," a comprehensive

lueprint for global sustainability.

1994 "Blueprint for a Green Economy,"

Report 3, contributes further to the

evolving roadmap of environmentally

conscious economic

ractices.

1997 The UN General Assembly convenes

to Review and Appraise the

Implementation of "Agenda 21"

during Rio + 5, reaffirming the global

commitment to sustainability.

2000 The UN Millennium Summit heralds

the Millennium Development Goals

(MDGs), shaping a new era of

international cooperation for a more

sustainable future.

2002 A decade after the Rio Earth Summit,

the World Summit on Sustainable

Development (WSSD) marks Rio +

10, reflecting on the progress made

and settin

fresh

oals.

2008 UNEP launched the Green Economy

Initiative (GEI) and the visionary

Global Green New Deal (GGND),

signaling a new era of

environmentally conscious

economics.

2009 The UN Climate Change Conference

in Copenhagen became a pivotal

moment in the global fight against

climate change.

2010 The UNEP Global Ministerial

Environmental Forum in Nusa Dua

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introduces "A Strategy for Smart and

Sustainable and Inclusive Growth,"

aligning economic progress with

environmental res

onsibilit

2011 A flurry of significant reports

emerges, including the UNEP Green

Economy Report, OECD's "Towards

Green Growth," and UNEP and ILO's

"Green Jobs," all contributing to the

dialogue on sustainable, inclusive

rowth.

2012 The UN Conference on Sustainable

Development (UNCSD), Rio + 20,

brings together nations to chart a

course towards a more sustainable

future. A host of publications,

including UNEP's "Measuring

Progress Towards a Green Economy"

and UN DESA's "A Guidebook to

Green Economy," provide critical

insi

hts.

2013 The High-Level Political Forum on

Sustainable Development (HLPF)

marks an important milestone in the

quest for sustainable development.

The Green Growth Knowledge

Platform (GGKP) takes strides toward

a unified approach to green growth

indicators.

2014 UNEP underscores the use of

indicators for green economy

policymaking, guiding nations in their

pursuit of environmentally

res

onsible

olicies.

2015 Transforming Our World: the 2030

Agenda for Sustainable Development"

introduces the Sustainable

Development Goals (SDGs), setting

ambitious targets for global

sustainability.

2016 The Green Growth Knowledge

Platform endeavours to measure

inclusive green growth at the country

level, furthering our understanding of

sustainable develo

ment

2017 OECD introduces Green Growth

Indicators, while PAGE (Partnership

for Action on Green Economy)

focuses on the application of green

econom

ress measurement.

2019 The European Commission unveils its

visionary New European Green Deal

Strategy, setting the stage for a more

sustainable and environmentally

responsible Europe.

4 OWN ELABORATION:

INSIGHTS FORGING FROM

DIVERSE OFFICIAL

DOCUMENTS AND

PUBLICATIONS

The European Union's role in shaping sustainable

development gained prominence leading up to the Rio

+ 20 summit in 2012 when it officially defined the

green economy as "a low-carbon and resource-

efficient economy that fosters economic growth, job

creation, and poverty eradication while investing in

and preserving the natural capital essential for the

long-term survival of our planet. It embodies low-

carbon practices, resource efficiency, and social

inclusivity." The European Commission's

commitment to the green economy was further

reinforced through environmental action programs

and the Europe 2020 Strategy, which placed

sustainable development at its core, encompassing the

economy, environment, and social aspects and

emphasizing the importance of greening the economy.

5 DEFINING SUSTAINABLE

PATHWAYS: INSIGHTS INTO

GREEN ECONOMY, GREEN

GROWTH, AND LOW-CARBON

DEVELOPMENT

The essence of the green economy encompasses

crucial elements, including the mitigation of

environmental risks, the stewardship of natural

resources, and the pursuit of both social inclusion and

economic efficiency. Investments to reduce harmful

emissions and the adoption of pro-ecological

behaviors are pivotal in realizing this concept, which

inherently promotes economic efficiency and growth.

Linked to the green economy is the concept of green

growth, which gained prominence during the global

financial crisis from 2008 to 2011. Green growth

offers an alternative approach to economic recovery,

combining immediate interventions with a

commitment to long-term sustainable prosperity,

reinforced by the integration of green elements into

the economy. For comprehensive definitions of the

green economy, green growth, and the low-carbon

economy, please refer to Table 3 as we delve deeper

into this discourse.

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Table 3: The evolution of sustainable development

concepts

Type Organization Meaning

Green

Economy

UNEP

(2011)

defines the green

economy as one

that enriches

human well-being

and social equity

while substantially

reducing

environmental

risks and

ecological

scarcities.

UNCTAD

(2011)

envisions the

green economy as

an instrumental

component of

sustainable

development,

characterized by

improved human

well-being,

reduced

inequalities, and

the avoidance of

significant

environmental

risks and

scarcities for

future

enerations.

International

Chamber of

Commerce's

Green

Economy

Task Force

emphasizes the

synergy between

economic growth

and environmental

sustainability,

fostering progress

and social

develo

ment.

EEA (2013) characterizes the

green economy as

a harmonious

framework where

environmental,

economic, and

social policies and

innovations

empower society

to use resources

efficiently. This

approach

enhances human

well-being

inclusively while

preserving the

natural systems

that sustain us.

Green

Growth

OECD

(2011)

defines green

growth as a

strategic pursuit of

economic growth

and development

while ensuring

that natural assets

remain robust

providers of

essential resources

and environmental

services,

underpinning

sustained growth

and new economic

ros

ects

World Bank

(2012)

positions green

growth as a

strategy to sustain

economic growth

and job creation

crucial for poverty

reduction amid

worsening

resource

constraints and the

climate crisis.

UN ESCAP

(2012)

green growth is

efficient, clean

growth that

minimizes

pollution and

environmental

impacts while

accounting for

natural hazards

and the role of

environmental

management and

natural capital in

averting physical

disasters.

Low carbon

development

FGG

(2011)

spotlights low-

carbon

development as a

strategy

emphasizing the

reduction of fossil

fuel use as the

engine for

development,

focusing on

climate-resilient

development.

Beyond the definitions provided by international

organizations, scholars from diverse academic

institutions have contributed significantly to our

understanding of green growth and the green

economy. Cato et al. emphasized the importance of

assessing economic growth not merely in terms of

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GDP expansion but also in relation to overall well-

being and environmental quality. They highlighted

the challenge of formulating development policies

that comprehensively consider the interconnected

facets in this context. The global green economy must

go beyond pursuing GDP growth through green

stimuli; it necessitates profound structural

transformations, involving changes in resource

utilization, production methods, consumption

behaviours, and environmental protection measures.

The concept of green growth and the green

economy gained particular significance amid the

rapid transformations witnessed in Central and

Eastern Europe and many developing nations at the

turn of the 20th and 21st centuries. This

transformation includes not only the overhaul of

economic and social systems but also their adaptation

to meet the demands of environmental sustainability

and sustainable development goals. Green

transformation involves reconfiguring existing

systems, including economic structures, governance

institutions, and stakeholder roles, in innovative

forms rooted in sustainable development principles.

In practical terms, the green economy encompasses

various elements like environmentally conscious

products, green investments, sustainable sectors,

responsible procurement, eco-friendly taxation, the

creation of green jobs, and environmentally conscious

consumption. These components collectively

contribute to reducing environmental footprints,

conserving resources, and fostering economic and

social growth. Responsibility for implementing a

green economy lies with a wide range of actors,

including businesses, households, governments, and

international organizations. While these concepts

may not offer one-size-fits-all solutions and may have

inherent weaknesses as shown in Table 4, they

represent an indispensable path toward a more

sustainable and environmentally responsible future,

characterized by distinct and transformative

approaches.

Table 4: Exploring Varied Perspectives: Traits of Green Economy and Green Growth Across Organizational Reports

Organization/Aut

hors

Title Key Aspects of

Definition

Measurement Agenda Strengths Limitations

European

Commission

Europe 2020: a

strategy for

smart,

sustainable and

inclusive

growth" (2010)

Defines the green

economy as an essential

component of smart,

sustainable, and

inclusive growth.

Utilizes national and EU-

level indicators for

measurement Emphasizes

inclusivity and

sustainability

May not encompass the full

spectrum of the green

economy.

OECD “Towards green

growth" (2011)

Positions effective

economic policy at the

core of green growth,

advocating flexibility

and resource efficienc

Develops 30 OECD green

growth indicators

Highlights resource-

efficient and dynamic

economies.

Expresses strong optimism

about the potential of green

growth

UNEP “Towards a

green

economy"

(2011)

| Asserts that

transitioning to a green

economy can be

profitable, balancing

economic growth with

environmental well-

ein

Proposes indicators for

informed decision-making

and policy design

Challenges the conventional

use of GDP for assessment.

Lacks innovative solutions

and focuses on mainstream

sustainability

HM Government Enabling the

transition to a

green

economy"

(2011)

Defines the green

economy's benefits to

the UK economy,

emphasizing

international market

opportunities

Calls for government-

provided information on

climate change and

resource risks.

Aligns with strong

economic arguments for

climate action. Does not

sufficiently address social

aspects or regulation

World Bank “Inclusive

green growth"

(2012)

Advocates for inclusive

green growth as the path

to sustainable

development, calling for

green policies to

influence GDP

Incorporates environmental

factors into GDP

measurement

Recognizes the importance

of integrating environmental

and economic aspects.

Limits perspectives by not

considering alternative

solutions.

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1381

GGKP (Global

Green Growth

Knowledge

Partnership)

Moving

towards a

common

approach on

green growth

indicators"

(2013)

Aims to establish a

common approach for

green growth indicators,

highlighting their

commonality.

Focuses on communication

needs rather than

monitoring

Adopts OECD's headline

indicators and considers

wealth accounting. | May

overlook diverse definitions

of green growth and focus

on natural assets as inputs to

roduction only.

Green growth and the green economy, intertwined

concepts that have evolved over several decades, play

pivotal roles in sustainable development. While often

used interchangeably, distinctions exist in their

emphasis. Green growth, with quantitative roots in

population growth and development aspirations,

focuses on meeting rising demands for goods and

services while eradicating poverty. Institutions like

the World Bank, OECD, GGGI, and UN-ESCAP

have championed green growth, defining it as

pursuing economic expansion while actively

avoiding environmental degradation and resource

depletion. This approach sees investments in the

environment as catalysts for economic progress,

preserving and leveraging natural capital—raw

materials, energy, water, and more—to improve

human well-being. It envisions harmonious

coexistence between economic advancement and

environmental stewardship, propelling prosperity

while safeguarding vital ecological systems.

Effective green growth policies require robust

information resources, measurement metrics, and

evaluation methodologies, enabling national

transitions to sustainability and fostering global

cooperation. The World Bank underscores resource

efficiency, pollution mitigation, environmental

preservation, and disaster avoidance as key

components, while GGGI envisions green growth as

a paradigm transcending traditional economic

growth, harmonizing economic advancement with

climate resilience, poverty alleviation, social

inclusion, and sustainable ecosystem management,

encompassing climate change mitigation,

biodiversity preservation, and universal resource

access.

Green growth, a cornerstone of sustainable

development, is intricately linked with the broader

concept of the green economy, which has evolved

over several decades, particularly since the early

1970s. Over time, the distinctions between "green

economy" and "green growth" have become

increasingly blurred, often used interchangeably.

This blending of terminology stems from the quest for

an integrated approach that amalgamates the various

facets of sustainable development, to which both

concepts are intimately connected. Differences in

emphasis arise depending on the specific aspects

emphasized within each realm.

6 CATALYSTS OF

SUSTAINABILITY:

EXPLORING THE PRINCIPLES

OF GREEN ECONOMY AND

THE COMPONENTS OF

GREEN TRANSFORMATION

While the primary aim of defining the green

economy was to provide clarity to the concept, it also

necessitated the development of concrete

implementation principles and operational strategies.

Numerous organizations involved in defining the

green economy presented various proposals,

particularly leading up to the Rio+20 Conference. In

2012, the United Nations Department of Economic

and Social Affairs (UNDESA) compiled an extensive

overview of these proposals in its second edition of

the Green Economy Handbook. Table 5 offers a

compilation of the most commonly advocated green

economy principles, aligning them with the

fundamental dimensions of sustainable development.

Table 5: Principles of Green Economy

Types Principles of Green Econom

Economic

Principles

In the economic realm, the green

economy principles recognize the

intrinsic value of natural capital. They

advocate for the integration of these

principles into economic development

and growth models, emphasizing the

importance of internalizing

externalities. Additionally, they

promote resource and energy efficiency

as well as the creation of decent work

opportunities while emphasizing the

importance of job data.

Environmental

Principles

Within the environmental sphere, these

principles focus on safeguarding

biodiversity and ecosystems. They call

for investments in and the sustainable

management of natural capital.

Reco

nizin

the

lanetar

boundaries

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and ecological limits, they aim to

advance international environmental

sustainability goals.

Social

Principles

The social aspects of green economy

principles aim to deliver tangible

benefits, including poverty reduction,

improved well-being, livelihoods, social

protection, and access to essential

services. They prioritize social

inclusivity, democratic governance,

participatory decision-making,

accountability, transparency, and

stability. These principles also underline

the importance of equity and justice,

both within and between countries and

across generations

The definition and implementation of the green

economy have required collaborative efforts and the

development of operational strategies. Leading up to

the Rio+20 Conference, various organizations

presented proposals regarding the green economy's

principles. The United Nations Department of

Economic and Social Affairs (UNDESA) compiled

these proposals in its 2012 Green Economy

Handbook aligning them with sustainable

development dimensions. These principles

encompass sustainability, justice, inclusivity, and

more, providing a flexible framework for green

economy programs. A joint report by UNDESA,

UNEP, and UNCTAD, comprehensively addressed

the transition to a green economy, emphasizing its

advantages, complexities, and potential risks within

the context of sustainable development goals.

Challenges include divergent interpretations of the

green economy between ecologists and economists,

the misconception of replacing sustainable

development entirely, and potential green

protectionist policies. Key elements of green

transformation involve natural capital valuation,

regulatory mechanisms, sustainable production and

consumption, income distribution, education, and

green skills. This transformation aims to shift from

the conventional economic model to a green economy

that promotes growth, sustainability, and social

inclusion, with actionable steps proposed at various

levels. Despite criticisms and overlapping definitions,

the quest for suitable measures and indicators for

green growth and governance continues, highlighting

the evolving nature of these paradigms in Table 6.

Table 6: Stages of Transitioning Towards a Green

Economy: Key Actions and Initiatives

Stages Entity Key Actions and

Initiatives

Low-

carbon

economy

Countries Achieving emission

targets. Defining

emission standards

for machines and

devices. Introduction

of Emission Trading

stem.

Enterprises Implementing low-

carbon technologies.

Purchasing low-

carbon machines and

vehicles.

Society Investing in low-

carbon vehicles

Increasing the share

of public transport

and

icycle users

Greening

the

economy

Countries Thermal upgrading

of public buildings.

Development of

renewable energy

sources.

Supporting

ecological

investments through

financial

instruments.

Subsidizing green

vehicles.

Implementing green

ublic procurement.

Enterprises Modernizing

production plants.

Introducing

environmental

management

systems.

Enriching the range

of ecological

products.

Creating green job

ortunities.

Society Thermal upgrading

of residential

buildings.

Purchasing

ecological goods and

services.

Green

economy

Countries Implementing green

tax reforms.

Increasing the share

of renewables in

energy consumption.

Developing

ecolo

ical trans

ort.

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1383

Focusing on green

sectors through

industrial policy.

Enforcing waste

generation

restrictions and

controls.

Enterprises Achieving zero-

emission production.

The dominant share

of ecological

products and

services.

Creating green job

ortunities

Society Implementing green

building practices,

e.g., greenhouses

Establishing micro

electric power plants

Installing solar

anels.

The information provided appears to be primarily

based on secondary data. It is derived from a review

of existing literature, official documents, reports, and

publications from various organizations and

institutions. The methodology involves analyzing and

synthesizing information from these secondary

sources to trace the historical development,

definitions, and key principles of concepts related to

the green economy, green growth, and low-carbon

development.

The study explores the evolution of the "greening"

of development discourse, focusing on concepts like

the green economy, green growth, and the European

Green Deal in the context of sustainable development

goals.

It highlights how the global financial crisis from

2008 to 2011 played a pivotal role in the emergence

of green economy and green growth concepts,

emphasizing resource efficiency, environmental

preservation, and social inclusivity.

Key principles of the green economy include

recognizing the value of natural capital, promoting

resource efficiency, preserving biodiversity, and

reducing poverty. These principles provide a flexible

framework for green economy programs and policies.

The study underscores the importance of robust

information resources, measurement metrics, and

evaluation methodologies for the effective

implementation of green growth and the green

economy, both of which should complement rather

than replace the idea of sustainable development.

Overall, the study offers a comprehensive

perspective on how these concepts have evolved and

interconnected, emphasizing their significance in

achieving a sustainable and environmentally

responsible future.

The infusion of "green" into the realm of

development discourse represents a pivotal paradigm

shift in our approach to economic growth,

environmental sustainability, and social equity. The

concepts of the green economy, green growth, and

low-carbon development have emerged as potent

instruments in addressing the pressing challenges of

our time. They underline the imperative of

harmonizing economic ambitions with environmental

stewardship, acknowledging the intrinsic connection

between human prosperity and the well-being of our

planet. As global communities grapple with climate

change, resource scarcity, and social inequalities,

these concepts have taken center stage, serving as

guiding principles for policy formulation and

pragmatic solutions to complex socio-economic

challenges.

The evolution of these concepts reflects a nuanced

interplay between ecological, economic, and social

factors. They have grown beyond mere catchphrases

and have been embraced by governments and

international organizations as strategies for a

sustainable future. While the distinctions between

green economy, green growth, and low-carbon

development may blur, their underlying principles

share a common thread of fostering prosperity while

safeguarding the environment. The implementation

of these concepts calls for standardized metrics and

comprehensive measurements that capture the

multifaceted nature of sustainability. As exemplified

by the European Green Deal, these approaches signal

a profound commitment to balancing environmental

objectives with economic growth, paving the way for

a future where humanity lives in greater harmony

with the planet.

7 CONCLUSION

In the evolving landscape of development discourse,

the study delves into the transformative journey of

concepts like the green economy, green growth, and

the European Green Deal, emphasizing their pivotal

role in achieving sustainable development goals. This

journey traces the historical shift from humanity's

essential connection with nature to the contemporary

imperative of balancing economic ambitions with

environmental stewardship. The green economy

emerges as a response to this imperative, promoting

resource efficiency, environmental preservation, and

poverty reduction. The study highlights the profound

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impact of the 2008-2011 global financial crisis, which

catalysed green economic strategies and drew

attention to the urgent need for eco-centric solutions.

The European Green Deal, a recent milestone, aligns

regional initiatives with global aspirations,

emphasizing the interconnectedness of economic,

social, and environmental objectives. Key findings

underscore the importance of flexible principles

guiding the green economy, robust measurement

metrics, and a holistic approach that complements,

rather than replaces, the broader concept of

sustainable development. In conclusion, the study

offers a comprehensive perspective on the evolution

and interplay of these concepts, emphasizing their

significance in shaping a sustainable and

environmentally responsible future, while

highlighting the challenges that necessitate

innovative solutions and collaborative efforts.

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