If we as individuals become alert and cautious towards creating and promoting sustainable development, we will certainly be able to have a flourishing green economy where interdependence will be appreciated and our future generation will be able to lead a healthy life."Support your answer.(100-150 words)
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The Green Economy is an alternative vision for growth and development; one that can generate economic development and improvements in people’s lives in ways consistent with advancing also environmental and social well-being. One significant component of a green economy strategy is to promote the development and adoption of sustainable technologies. The overall objective of this article is to discuss a number of challenges encountered when pursuing sustainable technological change, and that need to be properly understood by policy makers and professionals at different levels in society. We also identify some avenues for future research. The discussions center on five challenges: (a) dealing with diffuse – and ever more global – environmental risks; (b) achieving radical and not just incremental sustainable technological change; (c) green capitalism and the uncertain business-as-usual scenario; (d) the role of the state and designing appropriate policy mixes; and (e) dealing with distributional concerns and impacts. The article argues that sustainable technological change will require a re-assessment of the roles of the private industry and the state, respectively, and that future research should increasingly address the challenges of identifying and implementing novel policy instrument combinations in various institutional contexts.
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In the midst of our global response to COVID-19, the world is in need of an economic transformation, one that promotes both the sustainable wellbeing of individuals as well as the environment in tandem. We have arrived at a turning point. The challenges we face now, together, are tremendous. But in the face of current adversity, and the near halt of our global economy, we have a collective opportunity to join together for a brighter, more sustainable future. The decisions that policymakers, businesses and individuals choose now will determine if we prosper and accelerate a more sustainable world, or not.
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