sustainable economies

Synonyms

LFFE, green economy, low-carbon economy, low-fossil-fuel economy, LCE

Definition

A green economy is a economy or economic development model based on sustainable development and a knowledge of ecological economics

Wikipedia definition:

A low-carbon economy (LCE), low-fossil-fuel economy (LFFE), or decarbonised economy is an economy based on low carbon power sources that therefore has a minimal output of greenhouse gas (GHG) emissions into the biosphere, but specifically refers to the greenhouse gas carbon dioxide. GHG emissions due to anthropogenic (human) activity are the dominant cause of observed global warming (climate change) since the mid-20th century. Continued emission of greenhouse gases will cause further warming and long-lasting changes around the world, increasing the likelihood of severe, pervasive and irreversible impacts for people and ecosystems. Many countries around the world are designing and implementing low emission development strategies (LEDS). These strategies seek to achieve social, economic and environmental development goals while reducing long-term greenhouse gas emissions and increasing resilience to climate change impacts. Globally implemented low-carbon economies are therefore proposed by those having drawn this conclusion, as a means to avoid catastrophic climate change, and as a precursor to the more advanced, zero-carbon economy.

Source: Wikipedia - Low-carbon economy

Sustainable business, or green business, is an enterprise that has minimal negative impact on the global or local environment, community, society, or economy—a business that strives to meet the triple bottom line. Often, sustainable businesses have progressive environmental and human rights policies. In general, business is described as green if it matches the following four criteria: 1. * It incorporates principles of sustainability into each of its business decisions. 2. * It supplies environmentally friendly products or services that replaces demand for nongreen products and/or services. 3. * It is greener than traditional competition. 4. * It has made an enduring commitment to environmental principles in its business operations. A sustainable business is any organization that participates in environmentally friendly or green activities to ensure that all processes, products, and manufacturing activities adequately address current environmental concerns while maintaining a profit. In other words, it is a business that “meets the needs of the present world without compromising the ability of the future generations to meet their own needs.” It is the process of assessing how to design products that will take advantage of the current environmental situation and how well a company’s products perform with renewable resources. The Brundtland Report emphasized that sustainability is a three-legged stool of people, planet, and profit. Sustainable businesses with the supply chain try to balance all three through the triple-bottom-line concept—using sustainable development and sustainable distribution to affect the environment, business growth, and the society. Everyone affects the sustainability of the marketplace and the planet in some way. Sustainable development within a business can create value for customers, investors, and the environment. A sustainable business must meet customer needs while, at the same time, treating the environment well. In order to be successful in such an approach, where stakeholder balancing and joint solutions is key, a structural approach is needed. One philosophy, that include many different tools and methods, is the concept of Sustainable Enterprise Excellence. Sustainability is often confused with corporate social responsibility (CSR), though the two are not the same. Bansal and DesJardine (2014) state that the notion of ‘time’ discriminates sustainability from CSR and other similar concepts. Whereas ethics, morality, and norms permeate CSR, sustainability only obliges businesses to make intertemporal trade-offs to safeguard intergenerational equity. Short-termism is the bane of sustainability. Green business has been seen as a possible mediator of economic-environmental relations, and if proliferated, would serve to diversify our economy, even if it has a negligible effect at lowering atmospheric CO2 levels. The definition of "green jobs" is ambiguous, but it is generally agreed that these jobs, the result of green business, should be linked to clean energy, and contribute to the reduction of greenhouse gases. These corporations can be seen as generators of not only "green energy", but as producers of new "materialities" that are the product of the technologies these firms developed and deployed.

Source: Wikipedia - Sustainable business

The green economy is defined as an economy that aims at reducing environmental risks and ecological scarcities, and that aims for sustainable development without degrading the environment. It is 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 not only be efficient, but also fair. Fairness implies recognising 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 harm or neglects an asset. Green Sticker and ecolabel practices have emerged as consumer facing measurements of friendliness to the environment and sustainable development. Many industries are starting to adopt these standards as a viable way to promote their greening practices in a globalizing economy.

Source: Wikipedia - Green economy