Climate Change and Green Economic Growth

According to the OECD, green growth means fostering economic growth and development while ensuring that natural assets continue to provide the resources and environmental services on which our well-being relies. To do this it must catalyze investment and innovation which will underpin sustained growth and give rise to new economic opportunities. The OECD “Towards Green Growth” report provides a framework for how countries can achieve economic growth and development while at the same time combating climate change and preventing costly environmental degradation and the inefficient use of resources.

The importance of the development of the concept of green growth is reflected not only in the necessity of adapting to global changes, but also in the fact that the Balkan region is “vulnerable to the negative impacts of the environment and climate changes with local and regional impact on environment and socio-economic development”, and that the states need to “promote environmentally friendly mechanisms and proactive solutions to meet the challenges and overcome problems on the road to achievement of the standards and promotion of the norms applied in the European Union” (Belgrade Declaration on green economy and sustainable development in the region of South East Europe, 2013).