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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 .
Green growth is a concept in economic theory and policymaking used to describe paths of economic growth that are environmentally sustainable. [ 1 ] [ 2 ] [ 3 ] The term was coined in 2005 by the South Korean Rae Kwon Chung ( de ), a director at UNESCAP . [ 4 ]
Economic growth is one of the causes of increasing greenhouse gas emissions. [174] [175] As the economy expands, demand for energy and energy-intensive goods increases, pushing up CO 2 emissions. On the other hand, economic growth may drive technological change and increase energy efficiency.
In the United States the unofficial beginning and ending dates of national economic expansions have been defined by an American private non-profit research organization known as the National Bureau of Economic Research (NBER). The NBER defines an expansion as a period when economic activity rises substantially, spreads across the economy, and ...
The gross national product (GNP) measures the welfare of a nation's economy through the aggregate of products and services produced in that nation. Although GNP is a proficient measurement of the magnitude of the economy, many economists, environmentalists and citizens have been arguing the validity of the GNP in respect to measuring welfare.
In the United States, a group of academics and activists introduced "a green stimulus to rebuild our economy" in March 2020. [28] [29] The policies targeted eight fields: housing and civic infrastructure, transportation, labour and green manufacturing, energy generation, food and agriculture, environment and green infrastructure, innovation policy, and foreign policy.
At the end of 2022, the United States had 70.6 gigawatts (GW) of installed utility-scale photovoltaic capacity. [2] The United States has some of the largest solar farms in the world. Mount Signal Solar had installed over 600 MW by 2018 and will have 800 MW of capacity upon completion. Solar Star is a 579 megawatt (MW AC) farm near Rosamond ...
The UNEP 2011 Green Economy Report informs that "based on existing studies, the annual financing demand to green the global economy was estimated to be in the range US$1.05 to US$2.59 trillion. To place this demand in perspective, it is about one-tenth of total global investment per year, as measured by global Gross Capital Formation."