Page 104 - UPthEM_Program_Final_December 2020

UPthEM – Upskilling Pathways for Employability
№ 2019-1-BG01-KA204-062299

“Transforming our economies to balance the economic, social and environmental dimensions
of development is imperative to successfully implement this Agenda. Some of the SDGs, such
as Goal 8, Goal 9, and Goal 12, directly link economic growth objectives with environmental
and social considerations, showing that economic progress and environmental sustainability can
be mutually reinforcing. Other SDGs emphasise environmental sustainability in a wide range
of sectors, such as agriculture, infrastructure, land and marine resources, education and health.

Green Economy

The green economy is defined by EU as an “economy that can secure
growth and development, while at the same time improving human well-

being, providing decent jobs, reducing inequalities, tackling poverty and
preserving the natural capital upon which we all depend”.

The green economy is key in this context. It promotes a paradigm shift which better
acknowledges the economic opportunities that ‘green’ policies, markets and business practices
can deliver. In many cases, the environment is more a driver of growth and sustainable
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development for, than a cost to, the economy.”
A green industry business is one that uses sustainable materials to make its products. Green
industry businesses aim to use as little water, energy and raw materials as possible while cutting
carbon emissions, or it finds ways to utilize these materials in renewable and eco-friendly ways.
This business approach minimizes the company's strain on natural resources and contributions
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to climate change. In some cases, if waste is generated, it is reused as energy or raw material.
Both traditional business companies and green businesses are looking for profit and have
business goals and business plans. The difference between them is that the priority of a green
business is to minimizing the company's environmental impact. The environmental goals are
included in their core businesses, they are not just a side effect. When they plan their business,
the green entrepreneurs need to take into consideration that the costs of a green product or
services can be higher.

A green business might need to educate the clients towards the special characteristics of the
green products or services.

11 The inclusive green economy in EU development cooperation
12 https://www.businessnewsdaily.com/5102-green-business-
ideas.html#sthash.B26NlEvr.dpufhttp://www.businessnewsdaily.com/5102-green-business-ideas.html
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The European Commission support for the production of this publication [document] does not constitute an endorsement of the contents
which reflects the views only of the authors, and the Commission cannot be held responsible for any use which may be made of the
information contained therein.