The difference between a green economy and a regular economy is how are held responsible for their environmental impacts. In a regular economy, companies are able to externalize the costs of environmental damage, meaning they let society at large deal with them. For example the dumping of chemicals into rivers that then must be purified for drinking water. In this model businesses were encouraged to be destructive because it increased their bottom line since this costs were carried by others. In a green economy businesses are called uponto look at what is often called the triple bottom line; people, planet, and profit. In this model business create value in all three realms, social, environmental, and economic.
The UN Environment Programme defines a green economy as a, “low carbon, resources efficient, and socially inclusive” economy, whose income and employment growth are driven by public and private investments in environmental/resource conservation and preservation. A green economy allocates a certain amount of federal spending to support green initiatives, and makes environmental issues a priority on the public agenda.
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