Green Growth: An Imperative of Economic Development

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As the world recovers from the economic downturn that followed the 2008 financial crisis, it has become clear that industrial development models created in the past are increasingly unsustainable, both economically and environmentally. Economic progress and population growth, particularly in developing countries, have compounded the already enormous strain developed economies have put on the world's natural resources and ecosystems. This has increased global commodity prices and stressed the environment and supply of natural resources, stymieing growth. The world needs to embrace a new economic growth paradigm, green growth, if emerging economies are to expand and prosper and developed countries are to maintain high standards of living.

Put simply, green growth is a development model that does not view the concepts of economic growth and environmental sustainability as separate and distinct. All too often, development planners both in government and in the private sector view environmental protection as an obstacle to economic …