Green Economy - Definition of A Green Economy

Definition of A Green Economy

Karl Burkart defines a green economy as based on six main sectors:

• Renewable energy (solar, wind, geothermal, marine including wave, biogas, and fuel cell)
• Green buildings (green retrofits for energy and water efficiency, residential and commercial assessment; green products and materials, and LEED construction)
• Clean transportation (alternative fuels, public transit, hybrid and electric vehicles, carsharing and carpooling programs)
• Water management (Water reclamation, greywater and rainwater systems, low-water landscaping, water purification, stormwater management)
• Waste management (recycling, municipal solid waste salvage, brownfield land remediation, Superfund cleanup, sustainable packaging)
• Land management (organic agriculture, habitat conservation and restoration; urban forestry and parks, reforestation and afforestation and soil stabilization)

The Global Citizens Center, led by Kevin Danaher, defines green economy differently from the use of pricing mechanisms for protecting nature, by using the terms of a "triple bottom line," an economy concerned with being:

1. Environmentally sustainable, based on the belief that our biosphere is a closed system with finite resources and a limited capacity for self-regulation and self-renewal. We depend on the earth’s natural resources, and therefore we must create an economic system that respects the integrity of ecosystems and ensures the resilience of life supporting systems.
2. Socially just, based on the belief that culture and human dignity are precious resources that, like our natural resources, require responsible stewardship to avoid their depletion. We must create a vibrant economic system that ensures all people have access to a decent standard of living and full opportunities for personal and social development.
3. Locally rooted, based on the belief that an authentic connection to place is the essential pre-condition to sustainability and justice. The Green Economy is a global aggregate of individual communities meeting the needs of its citizens through the responsible, local production and exchange of goods and services.

The Global Green Economy Index, published annually by consultancy Dual Citizen Inc., measures and ranks the perception and performance of 27 national green economies. This index looks at 4 primary dimensions defining a national green economy as follows:

1. Leadership and the extent to which national leaders are champions for green issues on the local and international stage
2. Domestic policies and the success of policy frameworks to successfully promote renewable energy and green growth in home market
3. Cleantech Investment and the perceived opportunities and cleantech investment climate in each country
4. Green tourism and the level of commitment to promoting sustainable tourism through government

You can take part in a student project to define the Green Economy in the run-up to the Rio+20 conference on the Green Economist website .