Holiday for nature: a way forward in sustainability of the planet.

Abstract

This paper proposes to observe a day's break as the Planet Day (While the proposed day can also be named as the Gaia Day (after James Lovelock), Planet Day seems to be simpler and easier name for better understanding by the masses and greater connect of the issues with them. Hence, here the proposed day is termed as the Planet Day) every month to allow the nature to heal and ensure sustainability of the planet in the long run. Based on the concept of sustainable degrowth, the paper carries out benefit-cost analysis of the proposed Planet Day and presents a framework based on extensive literature review, secondary data analysis and stakeholders' (Here, participants are referred to as one of the "stakeholders" in the sense that every human being who lives on this planet is accountable for the harm done to it and is impacted by ecological degradation. Hence, they are supposed to contribute to healing of the nature through appropriate initiatives both individually and collectively. In addition to the common residents, there are other stakeholders of the ecology as well such as the government, the business enterprises, and manufacturing firms, etc.) perceptions through a non-random convenience sample survey. The paper finds that the net benefit from the Planet Day amounts to be USD 9002.37 billion across the world and USD 102.48 billion for India per annum. The respondents also perceive the proposed Planet Day as ecologically and economically beneficial and thus support the idea of healing time for the planet. However, a critical challenge is to take different stakeholders on board, ensure their active participation, and design appropriate institutional mechanisms for its successful implementation.