Green economy
A green economy is an economy that aims at reducing environmental risks & ecological scarcities, & that aims for sustainable development without degrading a environment. this is a closely related with ecological economics, but has a more politically applied focus. The 2011 UNEP Green Economy report argues "that to be green, an economy must non only be efficient, but also fair. Fairness implies recognizing global and country level equity dimensions, particularly in assuring a Just Transition to an economy that is low-carbon, resource efficient, and socially inclusive."
A feature distinguishing it from prior economic regimes is the direct valuation of natural capital and ecological services as having economic value see The Economics of Ecosystems and Biodiversity and Bank of Natural Capital and a full cost accounting regime in which costs externalized onto society via ecosystems are reliably traced back to, and accounted for as liabilities of, the entity that does the loss or neglects an asset.
Green sticker and ecolabel practices name emerged as consumer facing indicators of friendliness to the environment and sustainable development. numerous industries are starting to undertake these requirements as a way to promote their greening practices in a globalizing economy. Also asked as sustainability standards, these standards are special rules thatthe products bought don’t hurt the environment and the people that take them. The number of these standards has grown recently and they can now support build a new, greener economy. They focus on economic sectors like forestry, farming, mining or fishing among others; concentrate on environmental factors like protecting water guidance and biodiversity, or reducing greenhouse gas emissions; support social protections and workers’ rights; and home in on specific parts of production processes.