What does the term "green economy" refer to?

The term "green economy" refers to an economic system that aims for sustainable development by significantly reducing environmental risks and ecological scarcities. It prioritizes economic activities that promote sustainability, such as renewable energy, resource efficiency, and conservation efforts, while simultaneously fostering economic growth and improving the well-being of individuals. The focus is on creating a balance between the economy and the environment, ensuring that human activities can thrive without compromising the planet's health or depleting its resources for future generations.

A green economy stands in contrast to other economic models that might prioritize short-term profits or exploit natural resources without considering long-term impacts. It encompasses a holistic view that integrates economic, social, and environmental values, advocating for practices that yield benefits for both the economy and the environment.