Essay on Green Growth: Green growth is one of the seven pillars of Union Budget 2023-24. It has become most important essay topics for All competitive as well as academic exam. Here we have written an essay on Green Growth which cover all the important points like What is Green Growth? What does green growth aims to achieve? and what is strategy for green growth?. Lets see essay on Green Growth.

Essay on Green Growth

In this rapidly growing population age, world is facing two challenges simultaneously. These are expanding economic opportunities for all in the context of a growing global population; and addressing environmental pressures. If any one of these left unaddressed, this could undermine our ability to seize the opportunities of economic development. Economic development is necessary but by exploiting our environment it will be of no use. Both of these issues can be addressed by adopting Green Growth which harmonize economic growth with environmental sustainability.

What is Green Growth?

In simple words, Green Growth means fostering economic growth and development in such a way which ensures that natural assets continually provide the resources and environmental services on which our well-being relies. It is a such economic growth and development that is environmentally sustainable. Green Growth is a new revolutionary development paradigm that envisages economic growth while at the same time ensuring climatic and environmental sustainability.

Green growth is neither opposing nor replacement of sustainable development but it focuses on practical and flexible approach for achieving concrete, measurable progress across its economic and environmental pillars. Download PDF of this Essay: Click Here

What does Green Growth aims to achieve?

The green growth aims to harmonize economic growth with environmental sustainability. It focuses on improving the eco-efficiency of economic growth and enhancing the synergies between environment and economy. Green growth policies are such structural reforms which are required to foster strong, more sustainable and inclusive growth which can unlock new growth engines. It aims to enhance productivity by improving efficiency in the use of natural resources by allocating resources to the highest value use, reducing waste and energy consumption and unlocking opportunities for innovation and value creation.

It also aims to open up new markets by enhancing demand for green goods, services and technologies. It contributes to fiscal consolidation by revenues through green taxes and by elimination of environmentally harmful subsidies. It also aims to reduce the risks of negative shocks to growth which can arise due to resource bottlenecks as well as damaging and potentially irreversible environmental impacts.

Strategy for Green Growth

Strategies for Green Growth should be tailored to fit specific country circumstances which focuses bring together social, economic, environmental, technological, financial and development aspects into a comprehensive framework. While focusing on GDP as the main measure of economic progress contribution of natural assets to wealth, health and well-being should be noticed. Every action for economic development should be taken with proper care of environment. Green Growth should be promoted by investments in long-term environmental sustainability in order to diversify and ensure economic resilience which enhances the synergy between environment and economy.

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Conclusion

Making synergy with environment for sustainable economic development is need of hour. Green growth has vision and potential for achieving the same by harmonizing economic growth with environmental sustainability. Green growth makes efficient use of natural resources, minimizes pollution and environmental impacts and paves the way of environmentally sustainable economic development which is essential for our well being.

Hope you liked this essay on Green Growth and it helped you in your exam preparation. This essay on economic growth is very important for all competitive as well as academic exams.

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