Green growth

Green growth is a concept in economic theory and policymaking used to describe paths of economic growth that are environmentally sustainable.^[1][2][3] It is based on the understanding that as long as economic growth remains a predominant goal, a decoupling of economic growth from resource use and adverse environmental impacts is required. As such, green growth is closely related to the concepts of green economy and low-carbon or sustainable development. A main driver for green growth is the transition towards sustainable energy systems. Advocates of green growth policies argue that well-implemented green policies can create opportunities for employment in sectors such as renewable energy, green agriculture, or sustainable forestry.^[4]

Several countries and international organizations, such as the Organisation for Economic Co-operation and Development (OECD), World Bank, and United Nations,^[5] have developed strategies on green growth; others, such as the Global Green Growth Institute (GGGI), are specifically dedicated to the issue. The term green growth has been used to describe national or international strategies, for example as part of economic recovery from the COVID-19 recession, often framed as a green recovery.

Critics of green growth highlight how green growth approaches do not fully account for the underlying economic systems change needed in order to address the climate crisis, biodiversity crisis and other environmental degradation. Critics point instead to alternative frameworks for economic change such as a circular economy, steady-state economy, degrowth, doughnut economics and others.^[6]