The Green Economy as a New Approach to Development and Business

Abstract

The traditional linear approach to business, once prevalent among commercial entities, has led to various adverse outcomes, notably increased environmental pollution and a decline in quality of life. Consequently, there's a growing consensus that this model is unsustainable over the long term, necessitating a shift towards new business practices that fulfill economic, social, and environmental criteria. This paper begins by defining the green economy, then delves into its core components, highlighting the developmental potential of its adoption. It concludes that humanity and the economy have reached an intersection where embracing the green economy concept is essential for sustainable future development. This necessitates a fundamental shift not only in our current mindset but also in the prevailing system of values.