Abstract
<p>Since conventional energy resources are major source of CO<sub>2</sub> emission, over reliance on fossil fuels has raised questions on environmental sustainability. On way to address these multi-faceted issues of conventional energy sources, the sustainability of energy and environment is through the green economy approach. As such, this paper aims to discuss the concept of green economy in relation with renewable energy. The interdependence of green economy and environmental quality as well as the compatibility of green economy approach with the notion of sustainable development are demonstrated in the paper. Green economy approach fulfils the methodological gaps that exist in the growth models. It is believed that the best economic tool to attain sustainable development goals is by integrating social, economic and environmental elements. Furthermore, energy is believed to be a significant player in determining the greenness of the economy and sustainability as it has economic and environmental value. In addition, this study illustrates the significance of biomass energy resource and CO<sub>2</sub> emissions from fossil fuel combustion. The illustration framework justifies that biomass is the determinant renewable energy source to be a proxy for renewable energy resources. Similarly, it justifies that CO<sub>2</sub> emission of energy sector is considerably significant to represent the CO<sub>2</sub> emissions of the atmosphere.</p>
Highlights
The relationship between economic growth and environment, traditionally, was considered as a trade-off relation
This paper aims to discuss the concept of green economy in relation with renewable energy
Since the traditional economic approaches are not appropriate for holistic analysis; green economy approach fulfils the methodological gaps that exist in the growth models
Summary
The relationship between economic growth and environment, traditionally, was considered as a trade-off relation. The notion of sustainable development is a holistic and system approach of development thinking that focuses on the quantitative economic growth of the country without compromising the quality of the environment as well as not jeopardizing the need of future generation. The energy sector is one of the driving forces towards sustainable development of the nation due to its advantage of having both economic resources and environmental value. Due to the increasing energy demand, the scarcity of energy supply and the rise of CO emissions overdependence on the fossil fuel is becoming a challenge for sustainable development. This necessitates a new architect of development model
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