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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 ]
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 .
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.
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 United States has a highly developed mixed economy. [44] [45] [46] It is the world's largest economy by nominal GDP and second largest by purchasing power parity (PPP). [47]As of 2024, it has the world's sixth highest nominal GDP per capita and eighth highest GDP per capita by PPP). [10]
Gross domestic product - the broadest measure of economic activity - grew at an 1.3% annualized rate from January through March, down from the advance estimate of 1.6% and notably slower than the ...
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."