The green economy: incremental change or transformation?

Abstract

The concept of the green economy presented in three reports from leading global organizations is examined in this paper. These include the United Nations Environment Programme's Towards a Green Economy, the World Bank's Inclusive Green Growth and the Organisation for Economic Co-operation and Development's Towards Green Growth. The main critiques of the concept of the green economy are also considered. Contrary to views that the green economy merely represents 'green-washing' and tweaking of the current economic system, this paper concludes that the green economy has the potential to effect substantive and transformative change towards the goal of sustainable development.