Green Growth : A New Concept Of Growth

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1.0 Introduction After the Industrial Revolution, there has been a challenge to accumulate the most capital. People are focusing on the increase of economic, such as the rapid increase in GDP. However, it is clear that the natural resources are limited on Earth, high rate of consuming resources will lead to lacking in the future to sustain society. So, it is important for the world moving into a new stage of economic growth-Green Growth This report is organized as follows: It first provides a conceptual idea of what is green growth as well as its characteristic. 1.1 Definition of Green Growth Green growth, also known as green economy, is a new concept of growth evolved from traditional growth. It tends to balance traditional economic…show more content…
So, to actually assess a growth, environmental issues must be taken into account. This means the involve of cooperating natural capital into economic growth. For example, in conventional growth, the only consideration of a piece of wood is it’s price. But in green growth, the main thing be considered is that the whole value that a tree can make by reducing CO2 concentration in the air. So, green growth is not only considering the economic growth but also assessing environmental costs. 1.3 Relationship between Green Growth & Sustainable Development Sustainable development is about meeting the needs of today without over-using the resources for future. It requires the integration of environmental, economic and social priorities into policies and programs[b]. It is different from green growth as green growth does not take social priorities into account which means that green growth is more focusing on improvement of quantity but sustainable development focusing more on quality of human’s life experience. [a]. [b]. 2.0 Indicators of Green Growth In order to get a sustainable growth, first thing is to set goals and indicators of achievement. Goals are easy to set, for example, keeping the concentration of carbon dioxide in global atmosphere under 400 part per million(ppm), or
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