Green Economy, Growth, and Deal: a Triad for Sustainable Development Goals
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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.
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Green Economy, Sustainable Development, New European Green Deal Sustainability Metrics, Economic Processes, Green Transformation, Pragmatic Solutions
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