An economy is called green economy when it is based on the principle of ____________ .
Answers
The green economy is defined as economy that aims at making issues of reducing environmental risks and ecological scarcities, and that aims for sustainable development without degrading the environment. It is closely related with ecological economics, but has a more politically applied focus.
Answer:
Well-being, Justice, Planetary Boundaries, Efficiency, and Good Governance
Explanation:
First, the Wellbeing principle: all people contribute to and share prosperity, not just a few.
The Justice principle: equity within and between generations.
The Planetary Boundaries principle: that the new economy safeguards, restores and invests in nature.
The Efficiency and Sufficiency principle: production and consumption must be sustainable.
And finally the Good Governance principle: that our economies are guided by integrated, accountable and resilient institutions.
For more search for the Green Economy Coalition's "Five Principles of Green Economy"