Green Economy: A Panacea for Sustainable Development and Poverty Reduction

Abstract

The concept of green economy has recently attracted the attention of academia and policy makers of developing as well as developed nations. This paper tries to examine the importance of green economy as a tool for achieving sustainable development and poverty reduction in developing countries in general. Green economy implies that a substantial part of a country's revenue is earned from the green industry. It is more than mere greening of the economic sectors as it also involves all facets of sustainable development such as improving human welfare. It is therefore concluded that for countries to be economically developed, emphasis must be placed on programmes towards a green economy while keeping its challenges that it put before planners and policy makers.