A green, sustainable economy can benefit you by creating investment and jobs in renewable energy, recycling, and other environmentally friendly sectors. It can also help reduce greenhouse gas emissions and other pollutants. A sustainable economy can help you in other ways financially too.
What is a Green Economy?
A green economy aims to repair and restore the earth’s natural systems while also promoting economic prosperity. In a green economy, decisions are based on environmental factors, such as the capacity of ecosystems to regenerate and provide goods and services. A green economy can create jobs in a range of environmentally friendly sectors. It can also help reduce the impact of global warming on the natural environment.
Related topic: Finding green jobs
How can a green economy benefit you and the planet?
In order to reap the benefits of a green economy, it is important to be aware of what it is and how it works. It is not just about using green technology or becoming more environmentally conscious. It is a fundamental shift in the way we think about and value our natural resources. In a green economy, natural resources are not seen as expendable, but as essential parts of our economy and society that need to be preserved for future generations.
A green economy could benefit you and the planet in a number of ways:
-It can improve social well being. An inclusive economy would promote social equity for everyone, including indigenous peoples.
-It can improve health. There is lots of research that shows looking after biodiversity (e.g. bees) will benefit human health by enabling us to continue to grow food. Climate change will have significant impact on our ability to grow food. So going green is important for feeding ourselves in the future.
-It can create sustainable homes. Transitioning to renewable energies and using technology such as heat pumps will help us maintain our living standards in a sustainable way.
-It can create opportunities for green innovations. ‘Necessity is the mother of invention’ so as new problems arise, new solutions will be needed. If you are an investor, then there will be opportunities for investments in environmentally friendly solutions.
-It can help protect our natural capital such as soil, air, water and ecosystems for future generations.
-It can help conserve natural resources and protect ecosystems, which is important for maintaining biodiversity.
Related: What is a circular economy?
Economic growth
In a green economy, decisions are made based on environmental factors, such as the capacity of ecosystems to regenerate and provide goods and services. A green economy can create jobs in renewable energy, recycling, and other environmentally friendly sectors. It can also help reduce greenhouse gas emissions and other pollutants.
Despite the many benefits of a green economy, there are some who argue that it is not possible or cost effective. However, many countries are already moving in this direction. In fact, the global market for green products and services is estimated to be worth trillions of dollars.
Sustainable development
Sustainable development means development must be in harmony with the environment. We cannot continue to damage our planet without consequences. The good news is that a green economy can provide us with the resources we need to live prosperous lives without damaging the earth. A green economy means sustainable consumption that follows circular economy principles
What can you do to support a green economy?
So, what can you do to help support a green economy? There are many practical things you can do, such as:
Finance: change where your bank and where your pension is invested.
Energy: Reducing your energy consumption by changing to solar or using a heat pump for energy.
Zero waste: reducing waste, recycling and composting can reduce CO2 emissions
Carbon footprint: Driving and flying less to reduce global greenhouse gas emissions
Diet: eating organic foods may be the ideal perfect diet but going meat-free for one day can make a real difference too.
Lifestyle changes: avoiding fast fashion. The fashion industry significantly contributes to pollution and carbon emissions. As a consequence many people buy vintage or pre-loved clothes to avoid adding to the carbon footprint of seasonal clothes shopping.
Related: How to choose an ethical pension?
You can also support policies that promote an eco friendly economy, by holding the UK government to account as the UK aims for net zero. By doing your part to create a green economy, you can help make the world a healthier and more sustainable place for future generations. If we are able to make these small changes, the more we can move towards a green economy.