Financing Green Economy Impact on Sustainable Development

Abstract

This study aimed at clarifying the Green Economy financing roll in achieving sustainable development in the light of the of the goals by the UN program for environment which are represented by increasing the economic growth, and its impact on the global environmental system.

To achieve the aim of the study, an analytical descriptive approach is used to acquaint with the Green Economy, measuring indexes as well as the challenges faced by countries and international organizations which have pioneer experiences in the field, to recognize the Green Economy impact on the sustainable development, a survey of 80 countries both developed and developing countries has been used depending on Global Green Economy Index (GGEI).

In the light of the econometric analysis, previous studies and many successful experiences of some countries in applying the Green Economy, recommendations are raised to adopt the Green Economy system in some countries like Palestinian territories especially after disproving the Palestinian government fears of negative impact of Green Economy on the economic growth.

Green economy should be fastened dialectically with the process of economic growth, job creation, and poverty reduction which are the dialectical relations of different that are economically, socially and environmentally dimensions, and are reflected in the following major question:

Can a green economy become a new motive for economic growth?