Economic growth has been described as an acceleration in the production of economic value. It is usually measured by the Gross Domestic Product (GDP) or Gross National Product (GNP) growth rate. However, many people now question what it means to base policy decisions solely on what is expected to increase GDP.

We can rethink economic growth in many different ways. Indeed economists have been doing so for centuries. Nobel prize winner Simon Kuznets studied how to measure income and inequality and the relationship between the two. His ideas about how GDP should and should not be measured created some controversy at the time. Kuznets was rethinking the measurement of economic growth from a social perspective. Grossman and Krueger expanded on this and applied Kuznet’s ideas to the environment; they developed theories about what effects income growth can have on the environment.

Green Growth is all about rethinking growth and how we can grow more sustainably.GDP may indeed increase but are resources being depleted quicker than income is growing? What is the effect of GDP growth on the environment and thus the environmental resources available to each segment of society? How will each segment of society in turn affect the environment?

Today, people in the Asian and Pacific region are looking for ways to revive and reinstate traditional cultural values in ways that promote the sustainable, eco-efficient use of natural resources and enhance the competitiveness of enterprises. The revival and strengthening of such values have been described as actions underpinning societal change, and are often complementary to ideals related to social justice and harmony. Ms. Vandana Shiva, an Indian scientist and sustainability activist, for example, calls for a new model of Earth Democracy, which is grounded on living economies and compassion, justice and sustainability.

Other regional leaders are coming forward to lead their countries towards adopting more sustainable development patterns. Globalisation is beginning to play a conducive role in spreading ideas that can contribute to enhancing the environmental and social sustainability of the region.  Taken together, Green Growth strategies are gaining momentum and their potential for success is becoming greater than ever.

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