A green economy is defined as low carbon, resource efficient and socially inclusive. In a green economy, growth in employment and income are driven by public and private investment into such economic activities, infrastructure and assets that allow reduced carbon emissions and pollution, enhanced energy and resource efficiency, and prevention of the loss of biodiversity and ecosystem services.
These green investments need to be enabled and supported through targeted public expenditure, policy reforms and changes in taxation and regulation. UN Environment promotes a development path that understands natural capital as a critical economic asset and a source of public benefits, especially for poor people whose livelihoods depend on natural resources. The notion of green economy does not replace sustainable development, but creates a new focus on the economy, investment, capital and infrastructure, employment and skills and positive social and environmental outcomes across Asia and the Pacific.
The role of Green Economy, Sustainable Consumption and Production and Resource Efficiency for Sustainable Development: Sustainable Consumption and Production aims to improve production processes and consumption practices to reduce resource consumption, waste generation and emissions across the full life cycle of processes and products – while Resource Efficiency refers to the ways in which resources are used to deliver value to society and aims to reduce the amount of resources needed, and emissions and waste generated, per unit of product or service. The Green Economy provides a macro-economic approach to sustainable economic growth with a central focus on investments, employment and skills.
The three main areas for the current work on Green Economy are:
1) Advocacy of macro-economic approach to sustainable economic growth through regional, sub-regional and national fora
2) Demonstration of Green Economy approaches with a central focus on access to green finance, technology and investments
3) Support to countries in terms of development and mainstreaming of macro-economic policies to support the transition to a Green Economy
The UN Environment is supporting Mongolia in the implementation of the National Green Development Policy, integration of green economy into local level development plans, Sustainable Development Goals indicators and greening of key sectors
Multi-stakeholder partnerships for the promotion of a Green Economy are supported to accelerate and consolidate sustainable changes in both consumption and production patterns. In addition to Governments and not-for-profit organizations, UN Environment has increased its engagement with the private sector – which is a very important actor in promoting resource efficiency and green economy.