The green economy offers an alternative vision for growth and development—one that aims to generate economic progress and enhance people’s lives while also advancing environmental sustainability and social well-being. Unlike traditional economic models that often prioritize profit at the expense of the planet and people; the green economy seeks a balance that ensures both current prosperity and long-term viability.
Sustainable development emphasizes the enhancement of environmental, social, and economic resources, all of which are crucial to meeting the needs of both present and future generations. While sustainability remains the ultimate long-term goal, the green economy describes the practical pathway to achieving it.
According to the United Nations Environment Programme (UNEP) Green Economy Report (2011), for an economy to be considered “green,” it must not only be efficient but also fair. It should reduce environmental risks and ecological scarcities, while also aiming to improve human well-being and social equity.
However, the green economy is not without criticism. Some organizations and individuals argue that it could potentially expand corporate control into new areas, including forests, water bodies, and other natural resources. Such concerns underline the need for inclusive and transparent policymaking that prioritizes public interest and environmental justice.
The intersection of the global economic crisis, the ecological crisis, and rapid urbanization has made cities central to the unfolding transition toward sustainability. Urban areas are now the primary hubs of production and consumption, driving increasing demand for energy and materials.
The overexploitation and potential exhaustion of natural resources in the near future could significantly raise costs and disrupt global economic stability. For instance, fluctuations in the prices of oil, staple foods, and essentials like onions have already shown how resource scarcity impacts everyday life and global growth.
Importantly, the green economy is not about slowing down growth—it is about redefining it. It promotes improving productivity, innovation, and efficiency rather than simply chasing profits. This approach encourages low-carbon technologies, sustainable agriculture, renewable energy, and green jobs, aiming for inclusive growth that benefits all.
In 2015, world leaders adopted 17 Global Goals, known as the Sustainable Development Goals (SDGs), to be achieved by 2030. These goals aim to end poverty, fight inequality, and tackle the pressing challenges of climate change. While significant progress has been made in several areas, much work remains to be done.
Achieving a green and sustainable future requires collective action. Governments, industries, communities, and individuals must come together to make conscious decisions for the well-being of both people and the planet. It is only through united efforts that we can build a resilient, equitable, and environmentally secure world—for today and for generations to come.
(Author is PhD Scholar at SKAUST-K and can be reached at: [email protected])
