What is green economy?

In a sustainable economy, job and income growth result from both public and private investments in economic activities, infrastructure, and assets that promote lower carbon emissions and pollution, improved energy and resource efficiency, and the preservation of biodiversity and ecosystem services.

The foundation of a green economy revolves around five principles, with a focus on ensuring authentic, long-lasting collective well-being. This approach prioritises human growth, health, joy, learning, and community development rather than just financial wealth.

Considering the three aspects of sustainability-social, economic, and environmental-a green economy is characterised by its reliance on six key sectors: renewable energy, green buildings, clean transportation, water management, waste management, and land management.

While numerous community dynamics are at play, three key elements are crucial for developing sustainable and thriving communities in the long run: economy, ecology, and equity - often referred to as the three E's. Economy involves managing and utilising resources to meet the needs of households and communities.

The three Ps of sustainability are a widely recognised and embraced business concept. The three Ps - People, Planet, and Profit - are collectively known as the triple bottom line. Sustainability plays a critical role in safeguarding and optimising the benefits of the 3Ps.

Nirjona Hossain

Student

Bachelor in Business Administration

North South University

[email protected]