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The green gross domestic product (green GDP or GGDP) is an index of economic growth with the environmental consequences of that growth factored into a country's conventional GDP. Green GDP monetizes the loss of biodiversity , and accounts for costs caused by climate change .
The long-term potential growth rate of South Africa under the current policy environment has been estimated at 3.5%. [53] Per capita GDP growth has proved mediocre, though improving, growing by 1.6% a year from 1994 to 2009, and by 2.2% over the 2000–09 decade, [54] compared to world growth of 3.1% over the same period.
Recent research by ex-Wuppertal Institute member Joachim Spangenberg, working with neo-classical economists, shows that the transition, if focused on improving resource productivity, leads to higher economic growth than business as usual, while at the same time reducing pressures on the environment and enhancing employment.
The economic growth rate is typically calculated as real Gross domestic product (GDP) growth rate, real GDP per capita growth rate or GNI per capita growth. The "rate" of economic growth refers to the geometric annual rate of growth in GDP or GDP per capita between the first and the last year over a period of time. This growth rate represents ...
The figures are from the International Monetary Fund (IMF) World Economic Outlook Database, unless otherwise specified. [1] This list is not to be confused with the list of countries by real GDP per capita growth, which is the percentage change of GDP per person taking into account the changing population of the country.
Ecological economics includes the study of societal metabolism, the throughput of resources that enter and exit the economic system in relation to environmental quality. [17] [19] An economy that can sustain GDP growth without harming the environment is said to be decoupled. Exactly how, if, or to what extent this can be achieved is a subject ...
As was shown by Alcott, [11]: Fig. 5 despite significant improvements in the carbon intensity of GDP (i.e., the efficiency in carbon use) since 1980, world fossil energy consumption has increased in line with economic and population growth. Similarly, an extensive historical analysis of technological efficiency improvements has conclusively ...
Green growth is a concept in economic theory and policymaking used to describe paths of economic growth that are environmentally sustainable. [ 23 ] [ 24 ] [ 25 ] It is based on the understanding that as long as economic growth remains a predominant goal, a decoupling of economic growth from resource use and adverse environmental impacts is ...