The Economy Cannot Be Evergreen - Essay Example

Can the economy ever be green? Introduction Economic growth has been cited as paramount to the improvement of the wellbeing of humans. However, this growth has exhibited significant damage to the planet earth. As such, the economy is in turn described as “broken”. While many stakeholders reiterate that the solutions to the economic and environmental crises being witnessed today can be found in green economy, the fact is that the economy cannot be evergreen (Baietti et al., 2012, p.8). Today the world economy exhibit fatal design flaws which have resulted into credit and mortgage swap crises, policy goals geared towards growing gross national product, the manufacture of environmentally toxic chemicals, as well as the over-dependence on consumerism among others. Stakeholders have proposed several green economy solutions including green energy and green jobs; clean energy victory bonds; reduce, reuse and rethink; go green, fair trade, and local; community investing; shareowner activism; and building community initiatives (Green America, 2009). It is due to the numerous challenges encountered in achieving these propositions that this paper argues that the economy cannot be evergreen. The Economy Cannot Be Ever Green Economic growth in the context of environmental sustainability has in the recent past become an issue of significant concern to the international community. Today, as opposed to a couple of decades ago, green initiatives were viewed as private initiatives towards economic growth in the context of environmental friendliness (Baietti et al., 2012, p.8). Despite the enormous efforts towards linking economic growth to environmental sustainability, the prospects have not been fully earnest. This can be attributed to several factors. For instance reluctance on the part of global leaders, lack of political will and inefficient information sharing remain significant stumbling blocks towards the achievement of green economy. As a result, the economy cannot be evergreen. This is an issue that can be attributed to the fact that dealing with the foregoing factors has proved to be a serious challenge to policy and decision makers as well as experts championing the green economy initiatives (Carr, 2012, p.209; Wilson, 2013, p.85). Research indicates that increased consumption of food, resources and energy are as a result of higher living standards and green growth (Hunt, 2013). However, the economy cannot be entirely green due to the fact that countries especially in the developing world face significant challenge in institutionalizing fundamental changes in consumption, technological advancement and agriculture. These areas besides manufacturing, communication, and transportation are crucial components of the economy of a country (Hongyuan, 2008, p.153). Usually these fundamental changes are aimed at ensuring sustainable economic and environmental changes for growing populations. Countries such as Brazil, India and African countries have experienced significant challenges in institutionalizing fundamental changes in these areas (Hunt, 2013). As such, for these countries in particular and the entire globe in general the economy cannot be evergreen. Communication technology plays a crucial role in the reduction of natural risks associated with economic and environmental development. This is because communication technology enhances the sharing of information not only between agricultural and urban communities, but also advice centers. In developed countries, Hunt (2013) notes that how best to share information and knowledge regarding several aspects of green economy is a serious challenge. As natural risks such as flooding continue to affect various parts of the world, countries are faced with the challenge of adapting their housing, communication and infrastructure to such frequent occurrences. As these still remain a big challenge so are the prospects of green economy. Additionally, it has proven to be difficult to convince global decision makers and more so finance ministers that sustainable economic development must be based upon long term/sustainable and optimum use of natural resources while enhancing and preserving the natural environment (Hongyuan, 2008, p.153). As a result, prospects for green economy remain a pipe dream. Sustainability in economic growth is crucial. Natural risks have significant implications on economic and environmental development. For instance, global warming has resulted into massive floods in Thailand disrupting the country’s automobiles industry. This subsequently resulted into knock-on effects on the global supply chains. In Asia, various countries have recently experienced severe pollution which has affected the health of millions while also disrupting economic activity in the area. In these regions, the economy cannot be evergreen because of the costs associated with natural risks, varied and unpredictable global trade, as well as environmental and industrial safety. As such, the move towards green economic growth in Asian and African countries for instance, exhibits extraordinary challenge to policy and decision makers and experts. However, in order to address these challenges, countries in such regions must now focus on prompt, but unique reforms appropriate to their institutions and societies. Legislators, governments and the entire international community must now start discussing pertinent issues in strategic economic and environmental development (Carr, 2012, p.209; Wilson, 2013, p.85). The role of technology in green growth also shrouds the prospect of the economy ever being green. While technology remains a significant stimulant for the delivery of the green economic growth objective, they can be at times controversial (Information Resources Management Association, 2011, p.906). China, for instance has recently opted for online shopping and subsequently local delivery centers. However, critics have argued that this will result into the massive global shipping of consumer which in turn will massively result into air pollution. This is an issue of significant concern for global economic and environmental stakeholders because currently, the global shipping industry accounts for a total of 15 per cent of global air pollution emissions (Hunt, 2013). It is due to these developments that the economy cannot be evergreen. Over the recent decades, there have been massive campaigns on environmental awareness due to the continued rise in oil prices and economic meltdown. While green initiatives are considered to be the solution to such global crises, most aspects of the initiatives have widely remained a private practice. For instance, in many countries around the globe, waste water recycling and buying of environmentally friendly products remain the initiative of households and not bulk buyers like companies. More recent initiatives have attempted to link green initiatives to economic growth which is a positive thing. However, much still remains to be accomplished if the economy is to ever be green. More concrete measures must be taken to introduce renewable energy, push back the use of nuclear energy, encourage sustainable use of natural resources and manage overall consumption. Additionally, some multinational corporations have not heeded to the market demands for greener and environmental friendly operations. Such multinational corporations must significantly minimize their greenhouse gas emission to the air (Jenkins et al., 2002, p.22; Netzer & Althaus, 2012). Until then, the economy cannot be ever green. As environmental issues and decisions continue to become either national or global, they are increasingly becoming linked to the economy. This new development has also elucidated an emerging challenge in several countries. Most countries are divided between the need to develop their basic industry and pursuing environmentally friendly products and services. Usually the question being asked is the ultimate beneficiary when a country chooses to pursue environmentally friendly production at the expense of building their basic industry. In Sweden for instance, when it comes to pursuing green initiatives in economic growth the decision is whether to build prosperity or pursue a better globally distributed economic growth. It is understandable that such decisions are not easy to make since they come with so many strings attached and issues vested (Bersick & van der Velde, 2010, p.194). Therefore, until such a time that appropriate frameworks for reaching such decisions are put in place and a consensus reached the economy cannot be evergreen. Conclusion and Recommendations With reference to the foregoing, this essay agrees that the economy cannot be evergreen. However, it is crucial for governments and other stakeholders to institutionalize measures on how to prevent the damage of economy for the environment. The answer lies with sources and the use of energy sources among industrialized and developing nations. As such, overhauling the “energy” policies to include economic and environmental sustainability is paramount. This will foster support for fossil energy reduction; enhance community economic efficiency; support sound public finances, encourage competitiveness; as well as facilitate the development and use of renewable energy hence improved energy efficiency (Netzer & Althaus, 2012). In order to enhance the possibility of achieving the opposing argument that the economy can be green or rather improves energy efficiency, this essay recommends as follows. First, there is a need to craft and implement cost-effective measures for instance building standards must be adjusted to ensure increased energy efficiency. Second, the use of renewable energy must be made more competitive as compared to fossil fuels. User-paid subsidies especially as far as the production of renewable energy can go long way in facilitating the achievement of this objective. Third, the procurement as well as the use of sustainable/renewable energy must be made long term in nature. Finally, it is essential for governments, the international community as well as all other stakeholders to strengthen research, development as well as demonstration programs within the energy sector. References Baietti, A. et al. (2012). Green Infrastructure Finance: Leading Initiatives and Research. Paris: The World Bank Publishing. Bersick, S. and van der Velde, P. (2010). The Asia-Europe Meeting: Contributing to a New Global Governance Architecture. Amsterdam: Amsterdam University Press. Carr, A. (2012). Grass Roots and Green Tape: Principles and Practices of Environmental Stewardship. Leichardt: The Federation Press. Green America. (2009). 7 Fixes from the Green Economy. [Online]. Available at: [Accessed 14 November 2013]. Hongyuan, Y. (2008). Global Warming and China's Environmental Diplomacy. New York: Nova Science Publishers, Inc. Hunt, J. (2013). Green economy: will it ever be people, planet and profit? [Online]. Available at: [Accessed 14 November 2013]. Information Resources Management Association. (2011). Green Technologies: Concepts, Methodologies, Tools and Applications. Hershey: IGI Global. Jenkins, R. et al. (2002). Environmental Regulation in the New Global Economy: The Impact on Industry and Competitiveness. Cheltenham: Edward Elgar Publishing Limited. Netzer, N. and Althaus, J. (2012). Green Economy Turning Over a New Leaf towards Sustainable Development? [Online]. Available at: [Accessed 14 November 2013]. Wilson, M. (2013). The Green Economy: The Dangerous Path of Nature Commoditization. Consilience: The Journal of Sustainable Development, 10(1), pp. 85–98. Read More