On the whole, proponents of this branch of the economy are concerned about the health of the natural environment and believe that measures should be taken to protect nature and promote the positive coexistence of man and nature. The way these economists defend the environment is to argue that the environment plays a central role in the economy and that the health of any good economy is essentially determined by the health of the environment, of which it is an integral part. The threat of climate change, on the other hand, is by no means a technical issue that should only be taken into account in the art of climate computing. The mere threat itself has serious consequences directly for the economic sphere. For example, a recent OECD report warns that greenhouse gas emissions from industrial processes and fossil fuel combustion will double over the next 50 years, from 48,700 million tonnes per year to 99,500 million tonnes in 2060; and the resulting threat of climate change is expected to reduce the growth rate of Asian economies by up to 5% (OECD, 2014). This will have a direct impact on the global economy, as the compound annual growth rate of the global economy is expected to increase from 3.6% in 2014-2030 to 2.7% in 2030-2060. These gloomy projections are the end result of the likely adverse consequences of climate change, such as the increase in new bacteria and the spread of respiratory diseases; lower agricultural yields; and social problems related to the scarcity of water and urban space. Indeed, the green economy will be one of the two key issues of the Rio Summit in 2012 in the context of poverty eradication and sustainable development (24). 3.1.5 Overview of the most important assessments of the green economy and resource efficiency The green economy can cover sectors (e.B energy), topics (e.B pollution), principles (e.B polluters) or policies (e.B.

economic instruments). It may also describe an underlying strategy, such as the integration of environmental policy or a favourable economic structure. These green investments must be made possible and supported by targeted public spending, policy reforms, and changes in taxation and regulation. UN Environment promotes a development path that includes natural capital as a key economic asset and a source of public benefits, especially for the poor whose livelihoods depend on natural resources. The concept of a green economy does not replace sustainable development, but creates a new focus on the economy, investment, capital and infrastructure, employment and skills, and positive social and environmental outcomes in Asia and the Pacific. The FSD aims for a ”green economy in a blue world” and maintains a balance between three types of capital gains (economic, social and natural) to ensure a greener and more resilient economy. In fact, the green economy is a low-carbon, resource-efficient and socially inclusive initiative aimed at maintaining a balance between improving human well-being, improving social security, reducing environmental risks and limiting environmental sacrifices. The concept of a green economy ensures that no form of capital grows disproportionately to the detriment of others (UNEP et al., 2012; CPS, 2013). The important links between the green economy and sustainable development are also recognised: given the nature of the topic, the green economy and resource efficiency offer ideal opportunities for integrated assessments that assess key issues across all sectors and themes. This is beginning to emerge, as with life cycle assessment in the Netherlands and Sweden. In Ukraine, Belarus and Moldova, the latest assessments supported by the World Bank aim to raise awareness among policymakers of the need to accelerate and improve the implementation of environmentally sustainable practices in agriculture and forestry (56).

Despite considerable momentum in the areas of green economy and resource efficiency in recent years, there is still no assessment at the national level or set of indicators focusing specifically and globally on priority areas. However, a number of countries have developed strategic assessments and plans to green their economies. These tend to differ in emphasis and interpretation, as shown in the examples in Box 3.4. At regional level, environmental performance assessments (EPRs) are carried out by the OECD and UNECE (54). These reviews are particularly relevant for the green economy and resource efficiency and have three main objectives: Karl Burkart defined a green economy based on six main sectors:[7] Although the number of special green economy assessments prepared by national organisations is limited, other publicly funded pan-European and international organisations are interested in the green economy and are interested in preparing Assessments against priority areas. Specifically, resource efficiency means achieving a desired increased level of production with a reduced level of human, natural or financial inputs. This is a necessary criterion for a green economy, although it may not be sufficient, as it can still allow an increase in resource consumption in absolute terms, which has been the case for most countries in recent decades (OECD, 2011c). Ulrich Hoffmann also argues in an article for UNCTAD that the focus on the green economy and ”green growth” in particular, ”based on an evolutionary (and often reductionist) approach, will not be enough to deal with the complexity of [[climate change]] and ”may rather give a lot of false hopes and excuses for not doing anything really fundamental, which can lead to a reversal of global greenhouse gas emissions. [27] Clive Spash, an ecological economist, has criticized the use of economic growth to manage environmental losses,[28] arguing that the green economy, as advocated by the United Nations, is not at all a new approach and is in fact a distraction from the real drivers of the environmental crisis. [29] He also criticized the United Nations Project on the Economics of Ecosystems and Biodiversity (TEEB)[30], and the basis for assessing ecosystem services in monetary terms.

[31] Various international institutions have developed different characteristics and natures of the green economy. A key aspect of ESCAP`s work on the green economy is the Astana Green Bridge Initiative (ESCAP, 2010; and UNECE, 2011). This promotes the principles of the green economy in terms of changing political and economic conditions, environmental priorities and the growing needs of countries in Europe, Asia and the Pacific. .