One of emerging topic we are facing nowadays is green economy. Basically, it’s an economy that results in improved human well-being and reduced inequalities over the long term, while not exposing future generations to significant environmental risks and ecological scarcities(UNEP, 2010). So how come the term then comes along? The problem is, we (I think) are still in a position of hard to choose the priority between economy and environment. Prof Emil Salim has always taught us to integrate and “fill in” the economy factor within environment; and incorporate this in the current development we are facing. Economy can only grow if supported by environmental ecosystems as life support system that serves as the web of life.
To give one example, take green building for instance. Based on literature research, I found out that the building sector itself is a significant contributor to economic growth, both globally and at the national level. Globally, it is estimated to be worth US$7.5 trillion per year or approximately 10 per cent of global GDP (Betts and Farrell 2009). Where, the construction sector employs more than 111 million people (ILO 2001). At the national level, the sector generates 5-10 per cent of employment (UNEP SBCI 2007a).
Sustainable development can act as one factor reinforcing the green economy; whilst the concept of conventional development is the debilitating factor for green economy, the exact opposite. Why? Since it has three conventional patterns: Market failure, where it captures only preferences in terms of the economy through “consumer-demand” and “producer-supply” based on one side; then the Institutional failure, followed by Policy failure. I think, good governance is the key to all three. When will we have a proper transparency, accountability, participatory, efficiency, affectivity, within our government??
It is weird how we feel that we have too many regulations here, yet the majority of the issues have not yet been captured thoroughly. The law is always changing, and so are our ideas in what makes a community sustainable.