Green Economy Idea – Limits, Perspectives, Implications

This paper is going to discuss the “green economy” idea as a possible answer to the global concern of human economic activities and their (harmful) consequences to the future development perspectives for our planet. Inevitably, it has to refer to the tensions between traditional polluting industry and the challenges of innovative economy. We will look at the attempts to solve the emerging problem of how to form economic systems to make them more sustainable. Some elementary answers (e.g. sustainable material cycle thinking, 3R solutions etc.) are already there. Some more complex approaches being currently developed on local, regional, national and global scales are also to be mentioned.

The essay will present some strategic policy responses to global environmental problems caused i.e. by traditional industrial economic activities and policies. These responses are hidden behind the notions of “green development”, “green growth” or “green economy”.

“Greening the economy” is increasingly perceived as a must and it brings new hopes and inspirations to political debates on different fora (like UNEP, EU, OECD) and political processes (e.g. “Environment for Europe” process within UN ECE, Rio+20 process etc.). We will show how environmental and sustainability challenge created by world economic system is being dealt with and addressed by these fora, what policy tools are being developed, and how it can contribute to more sustainable future. We will refer to main strategies and key instruments which are already in place at different levels, indicating some opportunities and challenges, as well some pitfalls and perspectives for success in applying these strategies and instruments. Finally, the paper will point out looming limitations of “green economy” idea and possible implications and perspectives for more complex and durable solutions. Additionally, looking from a broader perspective, a proposal will be put forward for new systematic framework arrangements on global scale to stimulate inclusive and sustainable development of the world. Some institutional changes/reforms are here proposed, including those related to early warning and preemptive monitoring.