Incentivising Green Economic Development

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Green economic growth is constructed around six main sectors: green or renewables energies; green and energy-efficient buildings; clean transportation; water management and conservation; waste management, including recycling; and land management, including multiple land use.

Green energy, though, is at the heart of the green economy in the 21st Century. The threat of disruptive climate change has directed attention on the central role that energy plays in shaping the future interaction between humankind and the natural resources on which it is dependant. It is vital that renewable energy sources and green industries become more competitive relative to the entrenched fossil fuels, thus enhancing the attractiveness of investing in the green economy.

When applied appropriately, economic incentives can accelerate the turning point of the transition from high carbon, fossil fuel-based economy to a less carbon-intensive one which encourages innovation and efficiency. For the fast-growing emerging economies, such as the BRICS, it is time to transform the rhetoric about challenges to the old and established economic order into focused action. South Africa is amongst this emerging economy group, with a unique energy history which is hopefully poised to transform into a sustainable energy future.

BRAZIL

RUSSIA

INDIA

CHINA

SOUTH AFRICA

13 Jun 2014

Research by
SAIIA Programme
Economic Diplomacy
Tags
G20, Publications

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