Environmental Engineering Reference
In-Depth Information
Drivers of Green Economy:
An Indian Perspective
Sanjay Kumar Kar , Saroj Kumar Mishra ,
and Rohit Bansal
Abstract
Sustainable economic development is much needed to ensure human well-
being and reduce social inequality. In recent times, global leaders have
come closer to arrive at consensus to transform current unsustainable
economic developments into sustainable green economic growth. Viability
of green economy depends on several factors such as government policy,
investment climate, and concerns for environment. This chapter discusses
drivers of green economy and the role of renewables to drive green growth
in India.
Keywords
Fossil fuels Green fuels Natural gas Renewable energy
1
Green Economy
revolutionary economic reforms (Lane
2010
).
The recent global crises sensitised people to
move away from brown economy to green
economy. Mounting evidence also suggests that
transitioning to a green economy has sound eco-
nomic and social justifi cation (UNEP
2011
).To a
large extent, global political leaders are showing
concerns over unsustainable economic growth,
and many of them are in favour of a new sustain-
able economy based on much desirable green
growth (Hamdouch and Depret
2010
). Green
growth is quality-oriented, low-carbon, energy-
effi cient growth with a focus on creating value
through clean technology, natural infrastructure
and innovation in markets for environmental
goods and services (Vazquez-Brust and Sarkis
2012
). Some of the leading developed countries
and developing countries are making serious
Green economy is defi ned by the United Nations
Environment Programme (UNEP) as one that
“focuses on improving human well-being and
reducing social inequity over the long-term,
while not exposing future generations to signifi -
cant environmental risks and ecological scarci-
ties” (UNEP
2011
). The current global ecosystem
seems to be unsustainable and facing fi nancial,
economic and environmental crises (Cai et al.
2011
) and to remedy lingering stagnation from
the fi nancial crisis, key actors are proposing
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