Strategic Transformational Transition of Green Economy, Green Growth, and Sustainable Development

Strategic Transformational Transition of Green Economy, Green Growth, and Sustainable Development

José G. Vargas-Hernández (University Center for Economic and Managerial Sciences, University of Guadalajara, Mexico)
DOI: 10.4018/978-1-7998-3576-9.ch006

Abstract

This chapter aims to analyze a strategic transformational transition of green economy, green growth, and sustainable development from the institutional perspective. The analysis begins questioning the implications of the concepts and principles of green economy, green growth, and sustainable development from different perspectives in the transformational transition considering the investment, trade, and capacity building though the design and implementation of strategies and policies as well as measures from an institutional analysis. The methodology followed was the analytical review of the literature to derive inferences, challenges, proposals, and conclusions. It is concluded that the green economy concept addresses current challenges delivering economic development opportunities and multiple benefits for the welfare of all human beings.
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Environmental Sustainability

The urban economic growth and development perspective considers the city as the location where production, distribution, consumption contributing to the process of urban innovation taking place. Sustainable urban planning policies must adopt innovative approaches to consider the anticipation of risks and rationalization of investments. The process of urban innovation is inherent to the practice of sustainable development. Environmental sustainable urban planning and development as a theoretical framework supported by transitional theory can be adapted to specific issues of urban land use and infrastructure. Environmental sustainability transitions may contribute to improve economic growth and development.

A sustainable city is supported by an urban planning and designing paradigm. Urban design and planning supported by local governments are urged to spur technical innovations, innovative practices and contribute to develop new business models and marketing strategies aimed to find green resource-efficient solutions for climate change adaptation and mitigation while restructuring and reinventing local economies.

Integrating environmental sustainability issues into green areas innovation strategy and greening the innovation process are becoming a strategic opportunity for organizations, communities, local governments, neighborhoods (Porter and Reinhardt, 2007). Research and green innovation resources are available and accessible in a network, which can be used adaptable to some specific demands, such as technologies, tools, data, experimentation and testing facilities, and user groups.

Environmental sustainability is an integral part of green area innovation requiring greater demands of ecological performance out of eco-efficient green technologies with reduction and mitigation of green negative environmental impacts. An innovation environment creates new business opportunities. Leon (2006) identifies the need to transform efficiency and quality of public infrastructures and services and the creation of a business environment as the necessary factors for a city to become an innovation hub (Komninos & Sefertzi, 2009).

Key Terms in this Chapter

Urban Space: It is the proper space of a city, that is, of a population grouping of high density. It is characterized by having an infrastructure so that this large number of people can cope harmoniously in their daily lives.

Ecosystem: Biological system constituted by a community of living beings and the natural environment in which they live.

Sustainable City: That city where there is adequate mobility, saving energy and water resources, reducing auditory pollution and creating pleasant public spaces where there are green areas with great functionality.

Environmental: Of the environment or related to it.

Urban: Of the city or related to it.

Sustainability: It refers to biological systems that can preserve diversity and productivity over time.

Green Innovation: The creation and diffusion of technological means to remedy climate change.

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