Abstract
The crises that threaten countries and human societies are the limited resources of non-renewable (fossil) energy sources and the increasing environmental pollution caused by the excessive consumption of fossil fuels, which are necessary for paying attention to energy resources. The close relationship between economic and environmental issues has led to the emergence of new approaches in international environmental law, one of the most important of which is the green economy. Since one of the most important goals of the green economy is to reduce greenhouse gas emissions, the use of renewable energy sources is a shortcut to the green economy. In this regard, the main purpose of this chapter is to compare the impact of renewable energy on the green economy in selected middle-income and high-income countries.
TopIntroduction
The close connection between economic and environmental issues has led to the emergence of new approaches in international environmental law, one of the most prominent of which is the green economy. It is possible to move beyond the traditional economics approach and achieve a green economy by observing the principle of fairness and environmental integration. In other words, the traditional economy is based more on the excessive use of natural resources and disregard for the rights of present and future generations. The effects of such an economy can be irreversible in practice. Meeting the environmental challenges of the world requires moving towards a green economy. Therefore, turning to a green and ecological economy should be to reduce greenhouse gas emissions (Aldieri & Vinci, 2018), protection of natural resources, the realization of social and individual justice to fight inequalities that reducing greenhouse gas emissions is one of the most important goals of the green economy (Bovenberg & van der Ploeg, 1994).
Increasing the supply of energy from renewable sources, in addition to the benefits of reducing greenhouse gas emissions, reduces the risks of rising fossil fuel prices. The energy sector is responsible for two-thirds of greenhouse gas emissions. Estimates show that by 2030, the cost of climate change in terms of climate adaptation will increase from $ 50 billion to $ 170 billion, only half of which can be borne by developing countries. Many countries, as importers of crude oil, have also been challenged by rising fossil fuel prices. For example, oil accounts for 10 to 15% of total African imports and more than 30% of the average. Attracts export revenue. Some African countries, such as Kenya and Senegal, spend more than half of their export earnings on energy imports. Investment in renewable resources, which are also locally available, can in many cases significantly increase energy security along with development, economic and financial security (Bailey & Caprotti, 2014).
In recent years, various countries, both developed and developing, have paid much attention to renewable energy, and rising fossil fuel prices, environmental considerations, energy security, petrochemical use, technological advances, and economic justification are largely decisive. The future has been renewable energy. Renewable energy is essentially environmentally friendly and keeps the environment healthy, and as a result, can reduce the major greenhouse gas emissions that impose high costs on society (Barbier, 2011). Therefore, we should look for alternatives to fossil fuels, such as renewable energy. Renewable energies (new energies) such as wind, solar, hydropower, geothermal, biogas and biomass are compatible with nature and do not pollute the environment, and from the major greenhouse gas emissions impose many costs on society, Prevent. In summary, the top three characteristics of renewable energy are (Bordeianu, 1995):
Renewable energy sources have a long life and natural cycles and, unlike non-renewable energy sources, such as fossil fuels, are not finite, which ensures the continuity of energy consumption for future generations; Renewable energy sources, especially wind and solar energy, have significant potential in energy production due to their abundance and convenient geographical facilities, and their use can save fossil fuel consumption; The unique use of fossil fuel power plants will create a focus on energy production areas, while renewable energy sources can easily be used to generate energy in any location with suitable geographical conditions. This leads to decentralized energy production in sparsely populated areas such as villages(Cuomo et al., 2016).
Key Terms in this Chapter
Green Economy: A green economy is an economy that aims at reducing environmental risks and ecological scarcities and that aims for sustainable development without degrading the environment. It is closely related to ecological economics but has a more politically applied focus. The 2011 UNEP Green Economy Report argues “that to be green, and an economy must be not only efficient but also fair. Fairness implies recognizing global and country-level equity dimensions, particularly in assuring a Just Transition to an economy that is low-carbon, resource-efficient, and socially inclusive.”
Eco-Tariffs: An Eco-tariff, also known as an environmental tariff, is a trade barrier erected to reduce pollution and improve the environment. These trade barriers may take the form of import or export taxes on products with a large carbon footprint or imported from countries with lax environmental regulations.
Low-Carbon Economy: A low-carbon economy (LCE) or decarbonized economy is based on low-carbon power sources with minimal greenhouse gas (GHG) emissions into the atmosphere, specifically carbon dioxide. GHG emissions due to anthropogenic (human) activity are the dominant cause of observed climate change since the mid-20th century. Continued emission of greenhouse gases may cause long-lasting changes worldwide, increasing the likelihood of severe, pervasive, and irreversible effects for people and ecosystems.
Sustainable Development: Sustainable development is an organizing principle for meeting human development goals while simultaneously sustaining the ability of natural systems to provide the natural resources and ecosystem services on which the economy and society depend. The desired result is a state of society where living conditions and resources are used to continue to meet human needs without undermining the integrity and stability of the natural system. Sustainable development can be defined as development that meets the needs of the present without compromising the ability of future generations to meet their own needs. Sustainability goals, such as the current UN-level Sustainable Development Goals, address the global challenges, including poverty, inequality, climate change, environmental degradation, peace, and justice.
Natural Resource Economics: Natural resource economics deals with the supply, demand, and allocation of the Earth’s natural resources. One main objective of natural resource economics is to understand better the role of natural resources in the economy to develop more sustainable methods of managing those resources to ensure their future generations. Resource economists study interactions between economic and natural systems intending to develop a sustainable and efficient economy.
Environmental Enterprise: An environmental enterprise is an environmentally friendly/compatible business. Specifically, an environmental enterprise is a business that produces value in the same manner which an ecosystem does, neither producing waste nor consuming unsustainable resources. In addition, an environmental enterprise rather finds alternative ways to produce one’s products instead of taking advantage of animals for the sake of human profits. To be closer to being an environmentally friendly company, some environmental enterprises invest their money to develop or improve their technologies which are also environmentally friendly. In addition, environmental enterprises usually try to reduce global warming, so some companies use environmentally friendly materials to build their stores. They also set in environmentally friendly place regulations. All these efforts of the environmental enterprises can bring positive effects both for nature and people. The concept is rooted in the well-enumerated theories of natural capital, the eco-economy, and cradle-to-cradle design. Examples of environmental enterprises would be Seventh Generation, Inc., and Whole Foods.
Green Politics: Green politics, or ecopolitics, is a political ideology that aims to foster an ecologically sustainable society often, but not always, rooted in environmentalism, nonviolence, social justice, and grassroots democracy. It began taking shape in the western world in the 1970s; since then, Green parties have developed and established themselves in many countries around the globe and have achieved some electoral success.
Emissions Trading: Emissions trading (also known as cap and trade, emissions trading scheme, or ETS) is a market-based approach to controlling pollution by providing economic incentives for reducing the emissions of pollutants.
Circularity: A circular economy (also referred to as “circularity”) is an economic system that tackles global challenges like climate change, biodiversity loss, waste, and pollution. Most linear economy businesses take a natural resource and turn it into a product that is ultimately destined to become waste because it has been designed and made. This process is often summarised by “take, make, waste.” By contrast, a circular economy uses reuse, sharing, repair, refurbishment, remanufacturing, and recycling to create a closed-loop system, minimize resource inputs, and create waste, pollution, and carbon emissions. The circular economy aims to keep products, materials, equipment, and infrastructure in use for longer, thus improving the productivity of these resources. Waste materials and energy should become input for other processes through waste valorization: either as a component or recovered resource for another industrial process or as regenerative resources for nature (e.g., compost). This regenerative approach contrasts with the traditional linear economy, which has a “take, make, dispose of” production model.
Eco Commerce: Eco commerce is a business, investment, and technology-development model that employs market-based solutions to balancing the world’s energy needs and environmental integrity. Through green trading and green finance, eco-commerce promotes the further development of “clean technologies” such as wind power, solar power, biomass, and hydropower.