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Components of Green Economy
There are six basic components of a Green Economy:
• Renewable Energy: Energy produced by renewable sources like wind, sun, water, etc. is called renewable energy.
Using these as the alternate sources of energy will help reduce the impact on the environment.
• Green Buildings: Buildings which causes minimum destruction to the environment during its construction and
use renewable energy with proper waste management are called green buildings.
• Green Transport: It supports a well-planned transportation system with minimum damage to the forest and
environment. It also promotes efficient use of fuel that produces minimum greenhouse gases and also uses
alternate sources of fuel like CNG, battery, etc.
• Water Management: It is to reduce the wastage of water and replenish the groundwater level by adopting
rainwater harvesting. Using rainwater for agriculture, wastewater for recycling, etc. reduce scarcity of water.
• Waste Management: It is managing the waste by adopting 5R's—Repurpose, Refuse, Reduce, Reuse and
Recycle for minimum environmental degradation.
• Land Management: It is judicious use of land resources like soil, forests, farms, roads, etc. without causing much
damage to the environment.
Importance of Green Economy
The Green Economy is an innovative method of improving the country’s economy with minimum environmental
degradation. Its major benefits are:
Environmental Benefits
Environmental benefits of green economy are:
• It helps in decreasing environmental pollution, which is a big effort to protect the environment without degrading
the quality of soil, water and air.
• It helps in reducing the negative impacts of greenhouse gases by adopting technologies and products that
minimise carbon emissions. This will work in reducing global warming.
• Less damage to our forests and biodiversity will help in survival of rare species on the earth.
• It helps in eco-friendly, sustainable management of natural resources.
• It brings conscious inclination towards the alternate sources of energy.
Economic Benefits
Economic benefits of green economy are:
• It brings economic growth through the establishment of new markets for biofuels and other renewable energy resources.
• This will develop new markets with specialised, trained and skilled manpower.
• Creation of more eco-friendly industries will bring more employment, security and stability in the society.
• Agriculture industry will also believe in promoting the growing of pesticides and chemical free crops.
Social Benefits
Social benefits of green economy are:
• It improves the health and well-being of the society which increase the productivity of the country and reduce
the costs of health care.
• It improves livelihood status and poverty rate.
• It reduces environment related health problems.
Green Skills
The specialised skills which are important for building or developing Sustainable Green Economy are called Green
Skills. Learning green skills is one of the major ways to enhance knowledge, abilities, values, and attitudes to
develop and support organisations that focus on improving environmental conditions.
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