Ways of Fostering Green Economy and Green Growth

Sertyeşilışık B., Sertyesilisik E.



There is need for international collaboration among developing and developed countries for fostering green economy and sustainability. Despite of high awareness on climate change, even the developed countries are underperforming with respect to the environmental footprint of their activities. Furthermore, countries having cheap labour tend to attract global investment. Countries have been classified based on their virtual carbon trade, which requires calculation of carbon emission deficit or surplus of the countries through their imports and exports (Slay in Virtual carbon trade, transition and developing economies: Sinners, or sinned against? UNDP (United Nations Development Programme), Regional Bureau for Europe and CIS 2011). This chapter focuses on fostering green economies and green growth from political, social and economic perspectives so that sustainable development can be achieved, and poverty as well as environmental footprints can be reduced. The chapter covers the following topics: relationship between green economies and green growth; the ways for recruiting change agents for sustainability (i.e. the roles of media, higher education, policies, and companies in recruiting change agents for sustainability); ways for enhancing green economies (i.e. carbon taxes, international protocols, virtual water, virtual carbon, eco-industrial parks, green supply chain); as well as introduction of new perspective towards carbon tax and carbon-motivated border tax adjustments concepts. This chapter reveals that political, social and economical aspects are interrelated and that they support each other. For this reason, all three aspects should be considered together so that green economy and green growth are fostered.