Encouraging Perspective towards Sustainability and Green Economy

Authors- Assistant Professor Anila Singh

Abstract-The importance of ideas associated with sustainability has been the focus of the world economy for over three decades now. Understanding the key areas that can help the global community tackle the environmental issues ensuring sustainable developmental practices is pivotal. A green economy emphasizes the financial gains that movement toward sustainable development can bring for economies worldwide. This academic research is based on secondary data sources collected from various secondary data sources such as data published in journals, books, newspapers, reports, etc. A green economy’s ability to reduce carbon emissions and pollution, improve energy and resource efficiency, prevent the loss of biodiversity and ecosystem services, and invest in infrastructure and economic endeavours are what motivate employment and income growth. Public and private investment in these areas is crucial. To facilitate and encourage these green investments, targeted public spending, policy modifications, and tax and regulatory adjustments are all required. Employment and income growth are driven by a green economy’s potential to reduce carbon emissions and pollution, enhance energy and resource efficiency, stop the loss of biodiversity and ecosystem services, and invest in infrastructure and commercial ventures. Investing both public and private funds in these fields is essential. Tax and regulatory changes targeted public spending, and policy changes are all necessary to support and encourage these green initiatives. We must make this adjustment even though it is unlikely to be easy to execute if we are to ever accomplish the Sustainable Development Goals. However, the pace at which each country transitions to a green economy varies.

DOI: /10.61463/ijset.vol.12.issue2.140