Question

How industries affecting global economy in a form
of green economy?
?​

Answer 1

Answer:

Green Industrial Policies

Industrial policy refers to government actions which alter the structure of an economy, encouraging resources to move into sectors that are perceived as desirable for future development.

This is particularly important in situations where so-called ‘market failures’, or imperfect market conditions, prevent the structural changes required to allocate resources in a socially optimal manner. For instance, markets often do not facilitate early entrepreneurial processes, or coordinated interdependent investments in new cross-sectoral businesses. Industrial policy addresses these, and similar market failures, by reinforcing or counteracting the allocative effects of markets towards a better societal outcome.

However, Green Industrial Policies do not merely comprise a repetition of industrial policy approaches. We define Green Industrial Policies as any government measure that aims to accelerate the structural transformation towards a low-carbon, resource-efficient economy, in a way that also enables productivity enhancements within the economy. At the heart of Green Industrial Policies is the need to foster inclusiveness, productivity and competitiveness while decoupling growth from social inequalities and environmental degradation. Thus, the policies we address under this term go well beyond a stand-alone industrial policy focusing on the manufacturing sector.