Chapter 14 - Green growth: A strategy for carbon neutrality

Abstract

While many countries have implemented strategies such as carbon taxes and transitioning to cleaner and renewable energy to achieve carbon neutrality, the increasing pressure on the environment suggests that these measures may not be sufficient. As a result, we conducted research to explore the potential of green growth as a complementary strategy for achieving carbon neutrality, using data on innovative green growth and environmental pressure from the OECD and several industrialized economies, including the United States, Germany, China, India, Japan, Russia, and South Africa. Our findings revealed a dynamic and inverse relationship between green growth and carbon neutrality, suggesting that green growth could have a long-term impact in achieving carbon neutrality, particularly in less studied countries. Based on our results, we recommend the adoption and promotion of green growth as a catalyst for achieving sustainable, long-term economic growth and carbon neutrality.