Green Economy around the World; Advancement & Challenges in Bangladesh

Submitted to:

Dr. Mahmuda Akter Professor

Department of Accounting & Information Systems,

University of Dhaka

Submitted by: A. B. M. Abdullah

BBA 16th Batch, Section-A, Roll-16010

Department of Accounting & Information Systems,

University of Dhaka

Date: 20/02/2014

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LETTER OF TRANSMITTAL

Department of Accounting & Information Systems

University of Dhaka

February 20, 2014

Dr. Mahmuda Akter

Professor,

Dept. of Accounting & Information Systems,

University of Dhaka

Subject: Submission of project paper

Dear Madam,

I am delighted to submit my project paper on ‘Green Economy around the World:

Prospects in Bangladesh’. This paper has been prepared according to your authorization.

Different research papers, articles, journals, reports on green economy have been taken as

the fundamental sources of information.

I am thankful to you for permitting me to prepare project paper on this alternative economic

system which has enriched my knowledge in different areas.

Sincerely Yours,

A. B. M. Abdullah

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CHART OF CONTENTS

Contents Page

number

Acknowledgement 01

Executive Summary 01

Introduction 02

Methodology & Limitation 03

Literature Review 03

CHAPTER 1: Introduction to Green Economy 06 - 15

1.1 Green economy: definition & meaning 06

1.2 Traditional economy versus green economy 07

1.3 Evolution of green economy 07

1.4 Principles of green economy 09

1.5 The green economy: from theory to practice 11

1.6 Green economy and poverty reduction 12

1.7 Criticism of green economy 15

CHAPTER 2: Components of Green Economy 16 - 28

2.1 Green banking 16

2.2 Green investment 17

2.3 Green agriculture 19

2.4 Green transportation 20

2.5 Green employment or green jobs 21

2.6 Green fuel/renewable energy 23

2.7 Waste management 25

2.8 Water management 27

2.9 Land management 27

2.10 Forestry 28

CHAPTER 3: Advancement of Green Economy Around the World 29 - 45

3.1 Sector wise advancement of green economy in different countries 29

3.2 Successful green economic initiatives in different countries 37

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Contents Page

number

3.3 Environmental Performance Index 2014 and top performer countries 43

CHAPTER 4: Green Economy in Bangladesh 46 - 58

4.1 Probable benefits that Bangladesh can get from green economy 46

4.2 Important initiatives towards green economy in Bangladesh 47

4.3 Sector-wise advancement of green economy in Bangladesh 48

4.4 Bangladesh in Environmental Performance Index (EPI) 2014 57

CHAPTER 5: Challenges & Recommendations 59 - 69

5.1 Analysis of the prospects of green economy in Bangladesh 59

5.2 Challenges towards green economy in Bangladesh & recommendations 60

Conclusion 70

Bibliography 71

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Acknowledgement

Firstly, I offer my thanks to the Almighty Allah for giving me patience and capability of

collecting information. I am very grateful to my supervisor Professor Dr. Mahmuda Akter

whose encouragement, guidance and support from the initial level enabled me to complete

this project. During the preparation of this project paper, I have collected information from

different articles, reports, research papers, newspapers, journals and websites. I would like

to extend my gratitude to the authors, researchers, editors, organizations and journalists

who prepared those materials.

Executive Summary

The economic system which focuses on both economic growth and environmental

sustainability is known as green economy. This economy requires environment-friendly

practices in the core economic sectors like banking, investment, agriculture, transportation,

employment creation, energy, waste management, water management, land management,

forestry etc. This economy is believed to have many positive outcomes including increased

productivity, increased income, reduced poverty, social equity, environmental protection,

reduced pollution, improved public health and social well-being.

The United Nations Conference on Environment and Development (UNCED), well-known

as the ‘Earth Summit’ held in June 1992 in Rio de Janeiro, Brazil, was the first formal

international initiatives towards environment-friendly economy or green economy. Many

countries have been working for implementing green economy since 1992 and have

achieved success largely. But none of these countries have been able to implement this

economic system completely.

Bangladesh, one of the worst sufferers of climate change, is also experiencing slow

progress towards green economy. In fact, green economy has good prospects in this

country. But the country faces some social, economic, environmental and legal challenges

in the way of greening its economy. This paper has identified those challenges and

provided recommendations to overcome them.

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Introduction

Background: The whole world is running after economic growth and development. This

blind running towards economic growth has damaged the earth and its environment. At the

same time, human existence has become endangered. As a result, the concept of an

alternative economic system called ‘green economy’ has come into being. This concept of

economy covers a broad area of economic, social and environmental development. Green

economic concept is gaining much popularity all over the world. This concept also has

national level applications in many countries of the world.

In very short time, the green economic initiatives and applications in different countries

have presented many positive economic, environmental and social outcomes. Green

economy is not sole applicable in the economically developed countries. Rather it has much

potential in the developing countries like Bangladesh. In the developing countries, this new

economic system can mitigate economic crisis and environmental degradation. Green

economy, its areas and applications have been discussed on national and international

context.

Objectives: The objectives of this project paper are to:-

Explain the concept, components and areas of green economy

Identify the potential benefits associated with this economy

Discuss the global advancement of this economy

Determine the applications and advancement of green economic initiatives in

Bangladesh

Identify the challenges of green economy in Bangladesh

Provide recommendations to overcome the identified challenges

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Methodology & Limitation

For preparing this project paper, all the information has been collected from the secondary

sources. Research papers, articles, journals, websites of the related areas were used.

Information has also been collected from the reports of the international organizations like

UNEP, UNCCD, ILO, World Bank etc. Information from all these sources has been

analyzed with much effort for preparing this paper. The main limitation of this paper is that

it contains no information from the primary data sources. Moreover, the paper has been

prepared with my limited knowledge and within a very limited time.

Literature Review

The negative socio-economic and environmental impacts of traditional fossil-fuel based

brown economy have been observed all over the world. These observations motived people

to think of an alternative economic system which is called green economy or environment-

friendly economy. This thinking has been reflected in many literatures.

The United Nations Environment Programme (UNEP) noted in 2008: “There is growing

recognition that humanity faces a severe environmental emergency. Modern economies

have been built on an unsustainable foundation. Activities ranging from agriculture and

mining to manufacturing, services, and transportation rely on fossil fuels, generate copious

amounts of pollution and waste, and undermine critical ecosystems, eco-services, and life

support.”

It is found in the report of Collaborative Economics, Inc., (2010) that since the economy

shifts away from its dependence on carbon‐based energy toward cleaner alternatives and

improvements in efficiency, new market demand is created for products and services that

conserve resources. This transformation of the economy yields increased environmental

and economic flexibility which translates into improved competitiveness for a company as

well as an economy.

In Green Economy Report 2011, United Nations Environment Programme (UNEP)

mentioned, “A major challenge is reconciling the competing economic development

aspirations of rich and poor countries in a world economy that is facing increasing climate

change, energy insecurity and ecological scarcity. A green economy can meet this

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challenge by offering a development path that reduces carbon dependency, promotes

resource and energy efficiency and lessens environmental degradation. As economic

growth and investments become less dependent on liquidating environmental assets and

sacrificing environmental quality, both rich and poor countries can attain more sustainable

economic development.”

Achim Steiner (2010), Executive Director of United Nations Environment Programme

(UNEP) said, “The Green Economy is emerging, in part driven by the financial and

economic crisis, and in part because of a growing realization that the blunt and limited

markets of the past are unlikely to sustain the current global population of six billion

people, rising to nine billion by 2050. Managing environmental risks such as climate

change and the scarcity of natural resources will increasingly define a company’s business

and political life in the 21st century.”

In an effort to define the term green economy, ECO Canada (2010) tried to establish three

criteria namely technical, economic and development. Technical Perspective - defines the

green economy through the application of quantitative, analytical criteria that measure

exactly what it is about a product, process or service that is ‘green’ and to what extent.

Economic Perspective - relates the characteristics of an activity to categorize its economic

classification system of sectors, industries, and occupations. Economic criteria might assess

whether products or services contribute to decreased greenhouse gas emissions, or include

sustainable resources in manufacturing processes. Lastly, development process - identifies

where in the development cycle a green job is situated. The development process includes

the phases of development of a product or service, from the research phase through to

design, delivery, implementation, ongoing use and maintenance.

In his research paper, Md. Mustafizur Rahman said, “Green Economy is one whose growth

in income and employment is driven by public and private investments that reduce carbon

emissions and pollution, enhance energy and resource efficiency, and prevent the loss of

biodiversity and ecosystem services. These investments need to be catalyzed and supported

by targeted public expenditure, policy reforms and regulation changes.”

Unnayan Onneshan (2012), in their policy said, “The green economy has ambivalent

implications for Bangladesh. Some sectors could run well under green economy framework

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such as forestry, tourism, transportation, water resources management etc. Conversely,

cautious approach is needed in implementing green economy principle in agriculture sector

since production may reduce initially in extensive farming which may create a temporary

food crisis for a land deficit country like Bangladesh. It does not mean that we should

continue environmentally destructive mechanized agriculture forever, rather we should start

green agriculture now, may be in a limited scale that can be replicated as wider scale in

future. Equally, we have to be careful about equity and justice issue. The benefits arisen

from green economy should be distributed following the principle of equity and justice.”

Dr. Md. Mizanur Rahman, a biodiversity specialist, identified eleven green solutions for

resolving economic and environmental crisis in Bangladesh. These eleven green solutions

are-

1) Green energy

2) Green job

3) Reduce, reuse and rethink

4) Go green

5) Green investment

6) Green waste management

7) Green agriculture

8) Green transportation

9) Pure food security

10) Biodiversity conservation and

11) Ecotourism

In his research paper, Md. Mahadi Hasan (2012) mentioned, “Climate change is a serious

global threat, and it demands an urgent global response. And the emerging concept of green

economy could mitigate the multi-crises scenario in ecological balance, social justice,

environmental vulnerability, and economic pitfalls. Although the concept is highly

embarked by the developed nations, still opportunities exist for third world countries like

Bangladesh.”

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CHAPTER I

Introduction to Green Economy

Economy and environment are closely related in achieving sustainable development. But

we are so eager to achieve economic growth that we pay less attention to the environment.

As a result, the gap between economy and environment is increasing continuously. For

achieving high economic growth, natural resources are being used at random around the

world. This excessive use of natural resources is increasing the emission of green house gas

in the atmosphere. The environment is adversely affected by this green house gas. Thus, the

world is becoming polluted and unsafe for human existence. This is high time we thought

differently. We should think of an alternative economic system called Green Economy for

fostering economic growth and at the same time protecting our environment from

degradation.

1.1 Green economy: definition & meaning

The tern ‘Green Economy’ means environment-friendly economy. Here, the word ‘green’

indicates the environment. This economy maintains close relationship with the

environment. All the economic decisions taken in green economy are favorable to the

environment. The main concept of green economy is to enhance economic growth and

development without degrading the natural environment. This economy pays more

attention to the nature and eco-system.

According to the United Nations Environment Programme (UNEP), a green economy is

one that results in improved human wellbeing and social equity while significantly reducing

environmental risks and ecological scarcities. In a simple way, we can say that green

economy can be thought of as one which is low carbon, resource efficient and socially

inclusive. A green economy puts emphasis on economic growth, creating employments,

reducing carbon emission, protecting pollution and accelerating sustainable development.

At the same time, green economy encourages the minimum utilization of natural resources

and the conservation of ecosystem services.

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1.2 Traditional economy versus green economy

Traditionally economy is a system of production, distribution and consumption. It deals

with the production, distribution and consumption of goods and services of a particular

country or geographical region. This economy broadly discusses the land, labor, capita,

entrepreneurship, manufacturing, trade, distribution, savings, investment, consumption of

that area. This economy contains a lot of rationally argued propositions. The concepts of

this economy are well grounded in the academy.

Like the traditional economy, the green economy is also based on production, distribution

and consumption of goods and services but it is slightly different from the traditional

economy. Green economy differs from the traditional economy in terms of final outputs

and ways of operations. The traditional economy primarily focuses on achieving economic

growth with or without any consideration to environment. On the other hand, the green

economy focuses on growth, social equity and human wellbeing with a great consideration

to reducing environmental risks and ecological scarcities. This economy broadly discusses

the renewable energy, green investment, green transport, green agriculture, green

employments, improved waste management, improved water and land management,

combating climate changes and forestry.

Green economy is a thoughtful part of economy. It exhibits a deep revere for manure and

environment. It is actually a system of ideas and principles and it do not contain any

rationally argued propositions. The concepts of this economy have much impact on the

development strategies and policies. But they are less well grounded in the academy.

1.3 Evolution of green economy

The United Nations Conference on Environment and Development (UNCED) held in June

1992 in Rio de Janeiro, Brazil. This conference is known as ‘Earth Summit’ which adopted

fundamental principles and a programme of action called ‘Agenda 21’ for promoting

sustainable development. In 1997, the United Nations General Assembly reviewed and

ratified the principles for further implementation. This assembly also decided to convene

the World Summit on Sustainable Development (WSSD) in 2002 in Johannesburg, South

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Africa for full implementation of the earlier principles. Having received support form the

WSSD, the Commission on Sustainable Development (CSD) at its 11th session (held in

New York in 2003) decided to formulate a multi-year programme of work.

In response to the financial and economic crisis, United Nations Environmental Programme

(UNEP) called for a ‘Global Green New Deal’. The main objectives of this deal were to

revive global economy, boost employment, fight against climate change and fight against

environmental degradation. The UNEP invited the 20 most advanced economies to engage

in a ‘Global Green New Deal’ by investing at least 1% of their GDP in promoting green

economic sectors. UNEP recommended these economies to emphasize on improving

energy efficiency, sustainable transport and stimulating energy sources. The importance of

inclusive growth with employment creation, decent work and livelihood in the context of

green economy were discussed throughout in several consultative meetings of UNCSD in

2011.

The promotion of green economy requires high subsidies from the government and

technological aids from the developed countries. Seven G20 countries (China, France,

Germany, the USA, Mexico, Republic of Korea and South Africa) have announced

packages for stimulating green economy in 2009. They planned to spend 10% to 20% of the

packages in different sectors like railway infrastructure, sustainable transport, climate

protection, energy efficient building, renewable energies and waste management. UNEP

encourages these countries to increase the level of green investments in the packages. In

response, China and South Korea increased their green investment from 34% to 78%.

Thus, green economy is expanding in many developed countries but the developing and

least developed countries are not far from this. In fact, green economy is expanding in

many developing and least developed countries also, for example Cuba, Ecuador,

Barbados, Tanzania, Uganda, Tunisia, Kenya, India, Nepal etc. The level of

implementation is very high in developed countries because they have more financial and

technical power. But the developing and least developed countries face many obstacles in

greening their economic sectors due to financial and technical inability. So, the

advancement of green economy is very slow.

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1.4 Principles of green economy

There is a lot of discussions on the principles of green economy. Researchers and scholars

have different opinions regarding the guiding principles of this economy. Combining all

these discussions and opinions, the Earthsummit 2012 presented 15 principles for green

economy. Those principles are as follows:

1.4.1 Equitable distribution of wealth: The wealth of the world should equitably be

distributed among nations to reduce the disparity among rich and poor. Social and

economic justice should be ensured. The natural resources should be used in such a way

that wildlife gets sufficient space.

1.4.2 Economic equity and fairness: The countries of the world should bear common but

different responsibilities. The developed countries should transfer finance and technology

to the least developed countries so that the gap between them is minimized. At the same

time both of them will be able to ensure environmental sustainability.

1.4.3 Intergenerational equity: Environmental resources and ecosystem should be

managed and preserved in such a way that the value of the environmental assets is

increased for the future generations.

1.4.4 Precautionary approach: Science should be utilized to increase the social and

environmental outcomes. The environmental risks of using science should be identified.

Any bad impact of science on the environment should not be neglected.

1.4.5 The right to development: For achieving sustainable development, both the human

development and the environmental development are necessary. So, individuals and

societies should concentrate on both of these two types of developments.

1.4.6 Internalization of externalities: Building the social and environmental value should

be the main target of the policy. The market prices should reflect the social and

environmental costs and benefits. The polluters must bear the cost of pollution. Taxing

systems and regulatory activities should make good things cheap and bad things very

expensive.

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1.4.7 International cooperation: The environmental standards in one nation should be set

after construing their impacts on development potential of the other nation. Unfair trade

restriction should be removed. It should be ensured that trade supports sustainable resource

use, environmental protection progressive labor standards.

1.4.8 International liability: Actions implemented in a country may have impacts on the

other countries too. In this case, international cooperation is required. At the same time,

there should be international laws to provide solutions in such cases.

1.4.9 Information, participation and accountability: All citizens should have access to

the information relating to the environment. They should be given chance to participate in

decision making regarding the environmental issues. To handle the environmental issues

with the participation of the concerned citizens, all the institutes (both national and

international) should be democratic and accountable.

1.4.10 Sustainable consumption and production: Ensure sustainable production and

consumption with sustainable and equitable resource use. Reduce unsustainable patterns of

production. Reduce, reuse and recycle the materials used because the resources of the earth

are limited.

1.4.11 Strategic cooperation and integrated planning to deliver sustainable, green

economy and poverty alleviation: An integrated approach must be adopted at all levels

for achieving socio-economic sustainability and environmental sustainability. Strategic

planning should be made with the participation of civil society, stakeholders and concerned

governmental departments.

1.4.12 Just transition: In transition to the green economy, countries must incur costs.

Some wealthy countries will be able to bear the costs easily while the developing and least

developed countries may not be able to bear those costs. In such a situation, the vulnerable

countries should get financial and technical supports from the wealthy countries. Again the

citizens of the developing countries must have access to new skills and jobs.

1.4.13 Redefined well-being: GDP is an inadequate tool for measuring social well-being

and environmental integrity. Many socially and environmentally damaging activities

increase GDP, for example – fossil fuel exploitation and financial speculations.

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Environmental health, quality of life and human well-being should be considered in

determining economic well-being.

1.4.14 Gender equality: Gender equity and equality is to be ensured in transition to the

green economy and in achievement of sustainable development. Women have many

important roles to play in environmental management and development. They should be

given the chance of skill development in this regard and their actions must be rewarded

accordingly.

1.4.15 Safeguard biodiversity and prevent pollution of any part of the environment:

Protect and restore biodiversity and natural habitats because they are integral to

development and human well-being. Develop a system that protects the ecosystem from

damages.

1.5 The green economy: From theory to practice

The concept of green economy is not clear to many. As a result, there are also debates on its

operational framework, how it would be implemented in developing and least developed

countries, whether it would be implemented for shot term or long term. In spite of all these

debates the main inspirations regarding the implementation of green economy are the

externalities greenhouse gas emission, climate change, financial crisis etc) of tradition

fissile fuel based brown economy. The United Nations Environment Programme (UNEP)

also have taken position in favor of green economy.

Until now, the framework of green economy is stands on technological platforms and

economic opportunities associated with the new technologies. Much less has been

discussed regarding the potential negative social and environmental consequences of

implementing green economy. Again, much less has been discussed regarding the need to

reduce demand and overconsumption by the wealthy nations. Therefore, the researchers

define the ‘green economy’ as a repacking of consumption oriented neo-liberal economics.

There is no doubt that green economy aims at improving the environmental health of the

economy but question arises whether the developing countries can comply with this

approach or not. Developing countries may face many obstacles in implementing the

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concept of green economy because they are to give priority on poverty reduction, rural

development, food and water security, energy access, transportation needs as mandatory.

As a result, they can not give much importance on environmental issues. It is a burning

question that how these countries can meet all the mandatory requirements while

maintaining environmental integrity. The answer of this burning question has been given by

Karl Burkart

In the definition of green economy Karl Burkart identified six priority areas on which the

developing and least developed countries should emphasize. These areas are – renewable

energy, green building, clean transportation, water management, waste management and

land management. Green activities should be implemented in these six areas with the help

of low carbon technologies. In this case, the developing countries may take financial and

technical support from developed countries.

1.6 Green economy and poverty reduction

The traditional economic system is, in many cases, responsible for growing economic

uncertainty, social inequality and widespread poverty. The millennium development goal of

reducing extreme poverty is very far for reach for many countries. The recent financial,

food and economic crisis in many countries of the world have made it very hard to fight

against poverty. All these crises lead to the depletion of natural resources but the poor

people depend mostly on the natural resources for livelihood, business and wealth creation.

As a result, the reduction of natural resources leads to the increase in poverty.

The share of poor people in the global GDP is very small. Again, this small portion of share

is reduced with the decrease of natural resources. The Champagne- Glass Distribution

(Figure: 1.1) shows that the bottom 40% of the population of the world owns less the 5% of

the global wealth. This is the segment of the people who live on small farms, coastal areas,

around forest and depend mainly on natural resources. The reduction or depletion of natural

resources not only creates poverty but also creates poverty trap which leads to further

degradation of the situation.

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Figure-1.1: Champagne-Glass Distribution

Source: http://thesocietypages.org/graphicsociology/2009/05/27/champagne-glass-

distribution-of-wealth/

In this condition, green economic system can play an important role in reducing poverty. It

is shown in different countries that the efforts for greening the economy have many positive

results in poverty eradication. These efforts improve the GDP growth, increase natural

capital, create more job opportunities and enhance the standard of living. UNEP research

suggests that if 2% of global GDP is invested in green economic sectors, the green

economic sectors will produce higher global GDP compared to the traditional economic

sectors and this higher GDP will be produced within only10 years.

Green agriculture presents many sustainable farming techniques, for example integrated

pest management, integrated nutrient management, low-tillage farming, agro-forestry,

aquaculture, water harvesting, livestock integration, nitrogen fixing crops etc. These

techniques can increase the level of production. Green agriculture also links the

marginalized farmers with different supply chains which increase their income. Thus, the

level of poverty is reduced. Researches show that implication of green techniques in

agriculture increase the production from 59 to 179 percent. Again, it is also shown in the

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researches that for every 10% increase in agricultural production, there have been a 7%

reduction in poverty in Africa and more than 5% reduction in poverty in Asia.

Lack of safe drinking water and sanitation facility has a great negative impact on the socio-

economic condition of the poor people. This lacking is the main cause of sickness diseases

of the poor people. Sickness and diseases reduce their working hours and at the same time

increase medical costs. As a result, they face economic hardships. Green economy

emphasizes on proper water management and waste management which ensure the

availability of safe water and good sanitation systems. Thus the condition of health of the

poor people is improved. They can work more and earn more to get rid of poverty.

Traditional energy sources (oil, gas an coal) are not affordable to everyone and the ways of

distribution of these energy are not equitable. At the same time, excessive use of these

energies can lead to environmental degradation. So, green economy focuses on using

renewable energy sources (sunlight, wind, rain, tides, waves, geothermal heat etc). The use

of renewable energy will prevent environment pollution, improve human health and

increase economic activities in the low income areas especially in the rural areas. As a

result, the level of poverty will be reduced. The initial investment in renewable energy may

be high but different models have been developed to cover the costs.

Green economy also aims at increasing ecotourism. The term ecotourism means that

travelling should not have negative impact on the natural environment and it should

improve the well-being of the local people. Tourism is mainly human- resource intensive.

Ecotourism will increase the employment opportunities of the people and thus will

contribute to reduce poverty.

Natural calamities (floods, cyclones, drought, tidal wave etc) occurring around the world

have a great negative impact on the life and property. These calamities damage personal

property, crops and socio-economic infrastructure. As a result, economic activities are

hampered and poverty is increased in the affected areas. The natural calamities are the

results of air pollution, deforestation and climate change. Green economy reduces air

pollution through green transport. This economy also emphasizes on creating and

preserving forest lands. In this way, green economy tries to combat climate change and

reduce natural calamities. All these measures will reduce the occurrence of natural

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calamities and destruction of wealth. So, fighting against poverty with a view to achieving

economic solvency will become possible.

Thus, green economy can play a significant role in reducing poverty and inequity around

the world. But the success of green economy in poverty reduction depends mostly on right

policy formulation and proper implementation. Right policies are to be formulated as per

the existing socio-economic conditions. However, positive outcomes from the policies may

take much time to come out although the policies are right and properly implemented.

1.7 Criticism of green economy

There are many criticism of the concept of green economy. Many individuals and

organizations criticized this concept from different point of view. Some of the famous

criticisms of green economy are presented below:

Many researchers argue that green economy uses price mechanism to protect nature

which will extend corporate control over new areas like water and forestry.

Research organization ETC Group argues that corporate emphasis on green

economy will increase corporate power and create the most resource gap.

Venezuelan professor Edgardo Lander says that the UNEP’s report ‘Towards a

Green Economy’ ignores the fact that capacity of existing political systems to

establish regulations and restrictions to the free operation of the market is seriously

limited by the political and financial power of the corporations.

Ulrich Hoffman says that the focus of green economy and green growth is

particularly based on an evolutionary approach. He argued that these concepts will

not be sufficient to cope with the complexities of climate change and may rather

give much false hope and excuses to do nothing really.

Ecological economist Clive Spash argued that the green economy advocated by the

UN is not a new approach and it is actually a division from the real drivers of

environmental crisis. He also criticized the basis for valuing ecosystem services in

monetary terms.

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CHAPTER 2

Components of Green Economy

Implementation of green economy requires an overall modification in the economic

system. Traditional fossil fuel based brown economy damages the natural environment and

ecosystem by over utilizing natural resources (coal, oil, gas etc.) and creating pollution.

Green economy focuses on making the overall economic activities environment-friendly.

According to the concepts of this economy, all the sectors of the economy should be made

green which means pollution free. The banking, investment, energy utilization, agriculture,

employment creation, transportation, water management, waste management and land

management in the economy should be made green. Thus the main components of green

economy are: Green banking, Green investment, Green agriculture, Green transportation,

Green employment or green jobs, Green fuel/renewable energy, Waste management, Water

management, Land management and Forestry. All these components of green economy will

be discussed in this chapter.

2.1 Green banking

2.1.1 Definition and meaning

Generally banks are considered as environmental-friendly and pollution-free institutes

because of their operational activities. But banking activities have indirect impacts on the

environment. Banks increase environment pollution by delivering financial and advisory

services to their pollution creating customers. Brick fields, cement, textiles, power,

fertilizer, paper, chemical and many other industrial projects are financed by the banks and

these industrial projects are mainly responsible for environment pollution and global

warming. So, banks can play an important role in environmental protection and

environmental sustainability.

Green banking is the operation of banking activities giving special attention upon the

environmental, ecological and social factors aiming at the conservation of natural

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environment and natural resources. Green banking is also called ethical banking, moral

banking, sustainable banking and responsible banking.

2.1.2 Areas of green banking

Green banking activities have two broad areas. Firstly, banks can make their day to day

internal activities green by using renewable energy (solar power, wind energy etc.),

installing automation system and reducing paper based transactions. Secondly, banks can

develop environment-friendly financial and credit policies; determine environmental risks

before sanctioning loans to any project and support the growth of green undertakings

(renewable energy projects, waste management, clean transportation, organic agriculture

etc.).

2.1.3 Green banking products and services

Banks can offer a broad range of green products and services to their customers, for

example:-

Green mortgages

Green saving accounts

Green loans

Green credit cards

Green checking account

Green money market account

Mobile banking

Online banking

Remote deposit

Green finance

2.2 Green investment

2.2.1 Definition and meaning

Investing activities which contribute to the protection and improvement of the natural

environment and ecosystem are called green investments. Companies that conserve natural

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resources, produce and distribute renewable energy, run clean air projects, supply safe

drinking water and perform any other environmentally conscious business are called green

companies. Investing in these companies or in any other projects under these companies are

called green investments. The main feature of green investment is that it earns all or most

of its revenue and profit from green activities.

2.2.2 Some forms of green investments

Green investment may take the forms of traditional investment vehicles, for example

stocks, mutual funds and exchange trading funds etc. These investment vehicles are issued

by the green companies that are engaged in developing alternative energy sources (solar,

wind, biogas, hydropower etc.) and have the conscious environmental practices. In the

major stock exchanges of the world, many green companies are seen to trade their stocks.

Green investing can be made through exchange trading funds (ETF) which takes the forms

of stock indexes made up of green companies. Mutual fund can also be an alternative form

of green investing in which a portfolio manager makes the green asset allocation decisions

based on the fund’s prospectus.

2.2.3 Risk and return on green investments

Green investments are environment-friendly investments and can take the form of

traditional investments. But it should not be thought that these green investments are safer

and more high-yielding compared to the traditional non-green investments. Most of the

green companies are in their developing stage. High initial costs are associated with these

companies because they focus on developing alternative energy sources and methods. As a

result, the revenue yields of these companies are low. At the same time, investing in these

green companies is riskier than investing in the traditional companies. However, these

green companies have high earnings and growth potentials.

2.2.4 Wrong ideas regarding green investments

Sometimes people hold very wrong beliefs and ideas regarding green investments and

green companies. They consider some companies as green but actually these companies are

operating in the grey areas. A company may have very good environmental preservation

measures but still may be non-green. Unfortunately, some investors consider this type of

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companies as green companies. For example, if oil companies take required precautionary

measures to minimize the direct damages to the environment while drilling for oil, some

may think that the companies and their operations are green. Based on this wrong idea, they

may take decisions to invest in these companies. But actually these companies are not green

because burning the fossil fuel is one of the main causes of global warming.

2.3 Green agriculture

2.3.1 Definition and meaning

The agricultural systems which reduce the application of chemical fertilizers and pesticides,

increase the firm’s productivity, rebuild ecological resources, reduce soil erosion and

enhance soil fertility, are called green agriculture.

2.3.2 Benefits of green agriculture over the conventional agriculture

Green agriculture has many benefits over the conventional agriculture. Firstly, the

conventional agriculture emits many harmful gases in the atmosphere. Researches show

that conventional agriculture is responsible for 58% of global nitrous oxide emission and

47% of global methane emission. By 2030, methane emission is expected to increase by

60% through the conventional agricultural system. But if green agricultural methods are

used, these emissions can be reduced. Secondly, traditional agriculture requires more

farming lands. So, forests are being cut down for increasing cultivable lands. This

deforestation is responsible for 18% increase in greenhouse gas in the atmosphere. Green

agriculture can increase production without utilizing more lands. As a result, the level of

deforestation and greenhouse gas emission will be reduced. Thirdly, the conventional

agriculture increases the use of phosphorus content in the environment. The use of

phosphorus content has increased by 75% during the last half century. This content flows to

the canals, rivers and oceans by rain water and floods. This creates a great threat to the

ecosystem in the watery areas. This thereat can be handled through implementing green

agriculture. Finally, the conventional agriculture uses much chemical fertilizers and

pesticides for increasing the production. These chemical items enter into the food chains of

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human and animals. As a result, human food chains are polluted causing over 40000 deaths

per year. This large number of deaths can be prevented by implementing green agriculture.

2.3.3 Methods of green agriculture

Organic agriculture

Crop diversification

Mixed cultivation

Mushroom cultivation

Bee keeping

Pesticide free vegetable cultivation

Sericulture

Bio-slurry

Conservation agriculture

2.3.4 Concerns in transitioning to green agriculture

While transitioning to green agriculture from traditional agriculture, food production may

face a mild decline at the very beginning stage. But proper implementation of green

agricultural methods will dramatically increase the production and at the same time

contribute to restore ecosystem. It should also be kept in mind that proper implementation

of green agriculture requires private, public and civil initiatives, food security and social

equity.

2.4 Green transportation

Transportation sector is the major source of greenhouse gas emission and environment

pollution. Currently, 95% of transportation energy comes from petroleum. Researches show

that 23% of global energy-related greenhouse gas is emitted from transportation sector.

Prevention of pollution in this sector is also the objective of green economy.

Green transportation is one of the main sectors in green economy. According to UNEP,

transportation is considered ‘green’ when it supports protection of climate, ecosystem,

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public health, natural resources, economic growth and social welfare. The goal of green

transportation is not only to reduce air pollution but also to support economic growth.

There are many ways by which transportation sector can be made green. Firstly, public

transportation system should be given more importance and private vehicles should be

reduced. This will minimize the emission of greenhouse gas. Secondly, rail and marine

transportation should be given priority over road transportation because these transportation

systems have low emission of greenhouse gas. Thirdly, hybrid engines can be used in

motor vehicles which will increase energy efficiency and reduce air pollution. Fourthly, use

of electric and solar energy should be increased in transportation sector for greening this

sector. Finally, the greenest transportation means which include walking, cycling, non-

motor vehicles, animal powered vehicles and human powered vehicles can be used.

2.5 Green employment or green jobs

2.5.1 Definition and meaning

Green employment means environment-friendly employment opportunities. Works that

protect environment, restore biodiversity, reduce energy consumption, decarbonize the

economy, minimize waste generation and protect pollutions are called green employment.

Working in agriculture, performing research and development (R & D) activities,

performing administrative works, developing alternative energy sources and providing

environment conscious services are the examples of green jobs.

According to UNEP and ILO, green jobs can be generally defined as the direct employment

created in different sectors of the economy and through related activities, which reduce the

environmental impact of those sectors and activities, and ultimately brings it down to

sustainable levels. This includes ‘decent’ jobs that help to reduce consumption of energy

and raw materials, decarbonize the economy, protect and restore ecosystem services like

clean water, flood protection and biodiversity and minimize the production of waste and

pollution. This definition of green job also covers the criteria of decent work condition,

adequate wage, safe working conditions, worker’s rights, social dialogue and social

protection.

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2.5.2 Ways of creating green jobs

Green jobs can be created in many ways. Firstly, by developing and promoting the

renewable energy sources will create many green jobs. Many people will be able to work in

the development and promotion of these energy sources. At the same time, many industries

and economic activities will grow up based on these energies which will create green jobs.

Secondly, by promoting green agriculture many green jobs can be created, for example

organic farming, mushroom cultivation, bee keeping, sericulture, water conservation and

pesticide free vegetables cultivations can create many green jobs. Thirdly, eco-friendly

services, for example ecotourism, forestation and conservation of forests, can create green

jobs. Fourthly, sustainable transport, for example mass transport, can create green jobs.

Finally, activities related to reduce greenhouse gas and climate change adaptation can also

create a lot of green jobs.

2.5.3 Green employment and the concern of social welfare

Besides environmental conservation, green employment has to concentrate on social

welfare. Otherwise, crating social employment will be hampered. So, green employment

should ensure:-

Employment opportunities for all

Unforced work and equitable payment

Proper utilization of the productivity of the factors of production

Fair and equal treatment in employment

Gender equality

Decent working hours

Favorable working environment

Social protection for the employees and workers

Social dialogue for the betterment of the workers

Healthy workforce relations

2.5.4 Influencing factors or drivers of green employment

The influencing factors or drivers of green employment are as following:

Government policy and regulations

Available technology

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Innovation

Markets for green industries

New customer habits

Changes in the environment

2.5.5 Obstacles in the way of creating green employment

Creating green employment opportunities requires many changes in the sectors of

traditional economy. As a result, there are many obstacles in fostering green employment.

Firstly, many people have the traditional thinking and they are not willing to think the

economy and its activities in a different way. This traditional thinking obstructs the creation

of green employment when these people are in the policy making. Secondly, there is a risk

that the green industries and companies will not get suitable market or customer group at

the initial stage. This risk also deters the creation of green employment. Thirdly, creation of

green employment depends much on technological advancements and innovations. If there

is lack of innovation and lack of technological unavailability, creation of green employment

will be hampered. Finally, there are many interested groups who favor the brown economic

activities, for example extractors of mineral resources, exporters of mineral resources,

transportation companies and trade unions. These interested groups create obstacles in the

way of creating green employment.

2.6 Green fuel/renewable energy

2.6.1 What is renewable energy?

Energy sector is one of the most important sectors of economic development and

advancement. In the present world, energy is mainly supplied from three mineral resources,

coal, oil and gas. With a view to achieving high economic growth these mineral resources

are used in a large scale. As a result, the environment of earth is continuously being

polluted. Again, these mineral resources have limited reserves on earth. There is a

possibility that the scarcity of these resources will hamper the economic growth in near

future. So, we are standing in front of an environmental and economic crisis. In such a

condition, the green fuel or renewable energy can give us proper solution. This renewable

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energy is the inseparable part of green economy. These energies are pollution-free and their

supply will not run out.

Renewable energy is generally defined as energy that comes from resources which are

continuously replenished on a human timescale. Examples of renewable energy sources

include sunlight, wind, rain, tide, waves and geothermal heat etc. But all these sources

directly or indirectly derive their energy from the sun.

2.6.2 Available technologies for utilizing renewable energy sources

Many technologies have been developed for the utilization of renewable energy sources and

many technologies of this field are in developing stage. For example:-

Wind power technology – this technology uses the velocity or speed of the wind to

generate electricity.

Hydropower technology – this technology uses the speed of the water flow for

generating energy.

Solar energy – this technology uses the radiation of sun for generating heat and

electricity.

Biomass – by photosynthesis, the plants capture energy from the sun. This energy is

then stored in the plants. When the plants are burnt they release the stored energy.

Biofuel technology – this technology produces energy from the plant or animal

body, for example biogas, synthetic gas, landfill gas etc.

Geothermal energy – thermal energy is generated and stored in earth. This energy is

generated from the formation of earth and from radiation decay of minerals. This

stored thermal energy can be used to produce electricity.

2.6.3 Economic benefits of renewable energies

Renewable energy can fill up the energy shortage.

Renewable energy sources are environment-friendly and reduce pollutions.

Renewable energies can be utilized at low costs.

Renewable energies can play an important role in rural electrification.

These energies foster economic growth.

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Development and distribution of these energies can create employment

opportunities.

Small, medium and cottage industries can grow up depending on these renewable

energies.

2.6.4 Problems in the renewable energy sector

There are many reasons for which the use of renewable energies is criticized. Firstly, some

of the renewable energy sources are variable and intermittent, for example, solar power and

wind power. Secondly, sometimes people hold wrong ideas regarding these energies. It is

found in many cases that building the renewable energy infrastructure is resisted by the

local people. Finally, the success of the renewable energy projects depends on public

support and consent from the local community. A potential project in this sector may not

succeed due to lack of public support and local acceptation. However, it is also true that all

these problems can be overcome through the development of efficient technology and

creating public awareness.

2.7 Waste management

2.7.1 Definition

Waste management is a major part of green economy. Huge quantities of wastes are being

generated every day from households, industries, agriculture and transportation. Proper

management of these wastes has become a great concern in the present times because of

their negative impacts on environment and human health. As a result, green economy pays

much importance on proper management of wastes.

Waste management is the collection, transportation, processing, disposal, managing and

monitoring of waste materials. Waste management relates two broad areas - Firstly, the

production of waste materials in human activity and secondly, the process undertaken to

reduce their effects on environment, health and aesthetics. All types of waste materials, for

example liquid, solid, gaseous or radioactive, fall under the area of waste management.

Proper implementation of green economy is not possible without ensuring proper waste

management.

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2.7.2 Concepts related to waste management

Waste hierarchy – waste hierarchy consists of two 3 Rs (reduce, reuse and recycle). This

concept guides that the quantity of waste generation should be reduced, the wastes

generated from different sources should be reused for generating energy or other products,

efficient technologies should be used to recycle the waste materials for further use.

Polluters pay principle – polluters pay principles says that the waste generating parties

should pay for the impacts of waste in the environmental. They should also bear the cost of

waste disposal.

2.7.3 Methods of waste management

Landfill – this is the most inexpensive method of waste management. Under this method,

waste materials are buried in any abandoned land, mining voids and borrow pits. If properly

designed and well-managed, landfill can be a hygienic way of waste disposal. But if not

properly managed, this method will create pollutions and affect human health.

Incineration – under this method, solid or liquid organic wastes are treated. Organic wastes

are subjected to combustion so as to convert them into residue and gaseous products. This

method can reduce the quantity of solid waste up to 30%. Incineration converts waste

materials into heat, gas and stems. This method is also called thermal treatment.

Recycling – this is a method of using the waste materials to produce new products. There

are some waste materials, for example unused cans, glass bottles, useless steels, old

equipment, jars, newspapers, paper boars and cartoons, which can be reused by converting

into new products. This method is an efficient way of waste management.

Biological reprocessing – this method of waste management is useful for organic materials,

for example plant material, paper products and food scraps. This method uses composting

and digestion process for decomposing the organic materials. The resulting materials are

then used as compost in agriculture. Again, the composting and digestion process creates

waste gas (methane) that can be captured and used for generating electricity and heat.

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2.8 Water management

Water is essential for life. Only 3% of the water resource on earth is fresh water. Of this

3%, two-third is locked up in ice caps and glaciers. From the remaining 1%, one-fifth is

located in remote areas and is subject to seasonal rainfall. Only 0.08% world’s fresh water

is available for our drinking, cooking, agriculture, manufacturing and other economic

activities. Due to the increasing economic activities, this limited usable water is

continuously being contaminated. So, proper management of this resource has become a

part of green economy.

Green economy aims at protecting water pollution, conserving water, purifying

contaminated water and ensuring the supply of safe water for all. In green economy, water

management is the activity of planning, distributing and managing the optimum use of

water resource. Success of green economy depends on sustainable, integrated and resource-

efficient use of water.

Green economy gives much importance on urban water management because the major

sources of water pollution, for example households, mills, industries and sewerage, are

mainly in the urban areas. These sources produce huge quantity of waste materials which

finally fall in the rivers and canals. Again, the largest user of water resource is agricultural

sector which consumes almost 70% of total water consumption. In this sector, many

chemical fertilizers and pesticides are used to increase production. These chemicals flow to

the ponds, lakes, canals, rivers and oceans through rain water. So, water management in

this sector is also a great concern of green economy. Measures suggested for the efficient

management of water resource include introducing safer irrigation practices, promoting on-

firm wastewater treatment, actions to destroy pathogens from water, reducing the using of

chemical fertilizers and pesticides etc.

2.9 Land management

Land is the most important no-renewable geo-resources of the earth. Land supports most of

our economic and social activities. As the civilization advances, the socio-economic

activities (business, agriculture, mining, industrialization, urbanization, education etc.) also

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increase. These increased socio-economic activities have negative impacts on land, for

example- loss of fertility, land pollution, land degradation, soil erosion etc. As a result, the

supply of fertile land is reducing. Proper land management has also become a great

challenge for the present world. The area of green economy also covers sustainable land

management. So, land management is also a component of this economy. This economy

aims at conserving fertility of land, preventing land erosion, reducing land pollution and

ensuring proper allocation of land among different economic activities.

2.10 Forestry

Almost one-third of the land mass of the earth is covered by forests. More than 1.6 billion

people directly or indirectly depend on forests for their livelihood. Forests play very

significant role in controlling the flow of the rivers and ensuring water supply for us.

Moreover, forests have many other ecological, economic, social and health benefits, for

example protecting natural calamities, creating jobs, conserving the ecosystem, providing

shelter for plants and animals etc. in spite of all these positive contributions, we are

destroying forests at random. Global deforestation rate at present is 13 million hectares per

year. But forests are at the heart of green economy or environment-friendly economy. So,

forestry sector is one of the inseparable components of this economy. This economy aims at

reforestation, fighting deforestation and conserving forest lands. A research of United

Nations Environment Programme (UNEP) suggests that a $30 billion investment in fighting

deforestation will generate a 2.5 trillion savings in products and services.

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CHAPTER 3

Advancement of Green Economy Around the World

The world is gradually moving towards green economy. The transition to green economy or

environment-friendly economy is not at the same level around the world. This transition

level is very high in some countries, for example Switzerland, Australia, Singapore,

Luxemburg etc. Again in some countries the transition level is very low, for example

Afghanistan, Somalia, Mali, Haiti, Iraq etc. This chapter of the paper tries to present an

overall picture of green economic advancement around the globe. There is no single

measurement or rating by which we can understand the global advancement towards green

economy. If we want to get such an overall picture, we have to go through the following

three types of discussions:

3.1 Sector wise advancement of green economy in different countries

3.2 Successful green economic initiatives in different countries

3.3 Environmental Performance Index 2014 and top performer countries

After going through all these discussions, we will understand the overall progress of green

economy around the world.

3.1 Sector wise advancement of green economy in different countries

3.1.1 Green banking in different countries

Economic development and environmental sustainability are very closely related. But

keeping a balance between these two is very challenging. When we think about economic

development, environmental issues will come automatically. Besides, greenhouse gas

emission, global warming and climate change have emerged as the most important

discussed issues all over the world. People all over the world are raising their voice against

environmental degradation. As a result, governments in many countries are trying to ensure

a balanced economic development without damaging the natural environment.

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In such a condition, green banking can play a significant role in conserving the

environment. The concept of green banking has been developed in the western countries

but now it is practiced in most of the countries of the world. Green banking is the practice

of environment-friendly banking activities which help to preserve the environment.

Through this practice, banks provide innovative green products and support economic

activities which are not hazardous to environment.

Green banking practices exist in many countries of the world and some of them have

achieved much progress in this field. For example, England, Australia, Malaysia, Brazil,

Canada, Hong Kong, China, Japan, Spain, USA, Germany, Switzerland, South Africa,

India, Hungary, Poland, Qatar, Scotland, Serbia, Singapore, South Korea and Turkey have

advanced in green banking practices. But the level of practices is not the same for all these

countries and there is no universally accepted ranking of countries practicing green

banking. But every year, green banks are ranked according to their green performance by

Bloomberg Markets Magazine.

To make ranking, Bloomberg Markets looks at their efforts to reduce their own waste and

carbon footprints and at their investments in clean energy. In 2012, this magazine ranked

top 20 green banks from different countries. The ranking is presented below:

Table: 3(a)

Ranking Banks City/country

1 Citygroup New York, USA

2 Banco Santander Madrid, Spain

3 JPMorgan Chase & Co. New York, USA

4 Mitsubishi UFJ Financial Group Tokyo, Japan

5 Credit Suisse Group Zurich, Switzerland

6 Goldman Sachs Group New York, USA

7 Deutsche Bank Frankfurt, Germany

8 Mizuho Financial Group Tokyo, Japan

9 Lloyds Banking Group London, UK

10 Barclays London, UK

11 Morgan Stanley New York, USA

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Ranking Banks City/country

12 Standard Bank Group Johannesburg, South Africa

13 Itau Unibanco Holding Sao Paulo, Brazil

14 Royal Bank of Scotland Group Edinburgh, Scotland

15 UBS Zurich, Switzerland

16 Sumitomo Mitsui Financial Tokyo, Japan

17 Macquarie Group Sydney, Australia

18 Royal Bank of Canada Torrent, Canada

19 Commerzbank Frankfurt, Germany

20 Banco Bilbao Vizcaya Argentaria Bilbao, Spain

Source: Bloogmerg Markets, Apr 3, 2013

3.1.2 Top countries in green investments

Clean technology, renewable energy and environment-oriented companies are reshaping the

global economy while pure resource focused economies may decline in the near future.

Countries those focus on environment and its sustainability may emerge as the economic

leaders. In 2012, researchwhitepaper.com made a list of top countries for green investment.

Those countries are: Canada, United States, China, Australia, Japan, Germany, Sweden,

Israel, Singapore and United Kingdom

3.1.3 Use of renewable energy around the world

Sustainable Energy and Renewable Energy are terms which are thrown around a lot these

days. The US Energy Information Administration (EIA) estimates that in 2008, 10% of the

world’s energy consumption was from renewable energy sources. EIA forecasts that by

2035, consumption of renewable energy will be about 14% of total world energy

consumption.

The coal, oil and natural gas on which the world relies heavily are all non-renewable and

will eventually dwindle and disappear. By contrast, many types of renewable or sustainable

energy sources, such as wind and solar energy are constantly replenished and will never run

out.

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These are clean sources of energy which means that they have a much lower environmental

impact than conventional energy technologies. They won’t run out, their costs revolve

around materials and workmanship for facilities rather than on expensive energy imports.

The major portion of world’s renewable energy is in the hand of five countries. The

possession of renewable energy can be summarized in the following table.

Table 3(b)

Country % of world’s share

of renewable energy

USA 27.70%

Germany 11.70%

Spain 7.80%

China 7.60%

Brazil 5.00%

Others 40.20%

Source: care2 [Online]. (URL http://www.care2.com/causes/5-top-countries-leading-the-world-in-

renewable-energy.html#ixzz28varlY00)

The United States: Use of renewable energy is increasing due to federal, state, and local tax

and other incentives, as well as mandated state goals. Despite, attempting to join

international agreements or to introduce long-term, large scale reductions in emissions, this

has met with opposition in Congress and in the private sectors.

Germany: Germany made a historic decision when the country decided to phase out nuclear

power in favor of alternative sources by 2022. Ironically, it is the only country in the G-20

economic bloc to project a decline in clean energy investment partially because it has

already done much as an early leader in renewable energy.

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Spain: In April 2012, wind power became Spain’s largest source of electricity generation

although the country still imports the majority of its energy. Spanish producers are also

building turbines and installing wind farms internationally. Sadly, with the current

economic problems in Spain, this may change.

China: China is erecting 36 wind turbines a day and building a robust new electricity grid

to send this power thousands of miles across the country from the deserts of the west to the

cities of the east. It is a part of a long-term plan to supply 15% of the country’s energy from

alternative and renewable sources by 2020.

Brazil: Brazil has boosted large investments into the wind sector through government

auctions for contracts and is also working to attract foreign investment into solar

energy. The country has also made a pledge to have solar power in all twelve venues when

it will host the 2014 World Cup.

Other countries, for example Switzerland, France, Denmark, Australia, New Zealand,

Norway, Canada, Sweden and United Kingdom also produce and use much renewable

energy.

3.1.4 Use of solar energy around the world (2010)

Table 3(c)

Country Capacity

(Megawatt)

Germany 17,183

Spain 3,784

Japan 3,682

Italy 3,494

USA 2,528

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Country Capacity

(Megawatt)

Czech Republic 1,953

France 1,025

China 893

Belgium 803

South Korea 655

Rest of the world 3,596

Source: European Photovoltaic Energy Association

3.1.5 Use of wind power around the world (2012)

Table 3(d)

Country Installed capacity

(Megawatt)

China 75,564

USA 60,007

Germany 31,332

Spain 22,796

India 20,149

UK 8,445

Italy 8,144

France 7,196

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Country Installed capacity

(Megawatt)

Canada 6,200

Portugal 4,425

Rest of the world 39,852

Source: Wind power by counties, Wikipedia, the free encyclopedia

3.1.6 Use of hydropower around the world (2010)

Table 3(e)

Country Capacity (Giga watt)

China 1,96,790

Canada 88,974

USA 79,511

Brazil 59,080

Russia 45,000

India 33,600

Norway 27,528

Japan 27,229

Sweden 16,209

Venezuela 14,622

Source: http://www.seriousrankings.com/

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Hydropower is used in at least 150 countries. Almost 20% of world electricity production

depends on this power. The use of this power is expected to grow by 40% within the next

25 years.

3.1.7 Use of geothermal energy around the world (2013)

Table 3(f)

Country Capacity (Megawatt)

USA 3,389

Philippines 1,894

Indonesia 1,333

Mexico 980

Italy 901

New Zealand 895

Iceland 664

Japan 537

El Salvador 204

Kenya 195

Rest of the world 773

Source: Geothermal electricity. Wikipedia, the free encyclopedia

3.1.8 Advancement of organic/green agriculture around the world

Agricultural land under organic agriculture is increasing in different parts of the world, for

example Africa, Western Europe, Latin America, Caribbean areas and the USA. The

advancement of organic agriculture can be summarized as:

At present, land under organic agriculture around the world is 38 million hectors.

In more than 10 countries, the organic agricultural land is 10% of total farm land.

1.8 million Producers are engaged in organic farming.

The global market for organic agriculture is 62.8 billion US dollar.

86 countries have organic legislation.

162 countries have sufficient data on their organic agriculture.

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The countries which have the most organic agricultural land (2011) are as following:

Table 3(g)

Country Organic agricultural

land (Million

hectares)

Australia 12.00

Argentina 3.80

USA 1.90

China 1.90

Spain 1.60

Italy 1.10

India 1.10

Germany 1.00

France 1.00

Uruguay 0.90

Rest of the world 11.70

Source: FIBL & IFOMA

3.2 Successful green economic initiatives in different countries

3.2.1 Organic agriculture in Cuba

The collapse of Soviet Union and the long lasting trade embargo hampered the

institutionalized agriculture in Cuba in 1980s. Cuban producers faced the insufficient

supply of fertilizer, pesticides and other agricultural materials. They took this disadvantage

as an opportunity. They converted their traditional farming systems into organic methods.

The Cuban government eliminated the state-owned farms and let them operate as

cooperative production units in 1993. More than 80% of the state-owned farm lands were

handed over the local farmers. Although the farmers did not get the complete ownership,

they got the right to rent their lands as long as they could meet the production targets which

was known as production quotes. The farmers could sell the excess crops after meeting

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their targets. This would give an incentive for the farmers and they could buy bio-

fertilizers, composts and grazing animals for increasing their firm’s yield.

National policies also encouraged urban organic farming. In 1994, the government started a

programme called National Programme on Urban Agriculture. This programme encouraged

the city dwellers to utilize their vacant lots and backyards in organic farming. More than

3,50,000 well-paid jobs were created through that urban farming and the city of Havana

produced 4 million tons of fruits and vegetables per year. Soon, Cuba became self-

sufficient in agriculture.

Organic farming in Cuba not only had positive impacts on food security but also had

numerous positive impacts on society, economy and environment. Chemical fertilizers and

pesticides were avoided in the agriculture. As a result, Cubans could ensure good health

and long-term wellbeing.

3.2.2 Forest management in Nepal

40% of the land area of Nepal was covered by forest lands. But during 1990s the forest

lands were declining at 1.90% annually. To protect deforestation the government of Nepal

took many measures. On of them was the establishment of Community Forest User Groups

(CFUG). Through those groups, the country could manage one-fourth of its forest lands.

Since 1990, 14000 CUPGs have been employing 35% of total population.

Each group is given the responsibility for a specific area of forest. The group members

form their own operational policies, determine harvesting rules, set prices for their products

and decide how the surplus income will be utilized. These groups also provide savings,

credit and scholarship facilities among the members. These facilities ensure an inclusive

growth. The Forest Act 1993 of Nepal and the Forest Rules 1995 provide the legal basis for

the Community Forest User Group. These rules and law recognize these groups as self-

governing autonomous bodies in forest management.

These initiatives have many positive outcomes on the economy, society and environment.

Many employment opportunities have been created, income of people has been increased,

social well-being of people has been enhanced and sustainable land and water management

have been ensured by these CFUGs. Most importantly, the country has succeeded in

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stopping the high decline in forest lands. Instead, the forest lands are increased at an annual

rate of 1.35% in Nepal.

3.2.3 Solar energy in Barbados

Barbados previously depended much on imported fossil fuel. As a result, the environment

of the country started to decline gradually. In 2006, the government formulated a National

Strategic Plan for 2006-2025 to reduce the dependence on fossil fuel and increase the use of

renewable energy. Particularly the government focused on household solar water heater.

The formula targeted a 50% increase in the number of household solar water heater. In

2012, Barbados could save 15,000 tons of carbon emissions and more than USS 100

million was the country’s energy savings.

The solar water heater became very popular in the country. At present, half of the

household use this technology. There are more than 40,000 solar water heaters of which

75% are being used for household purposes. The solar water heater has successfully

penetrated in the domestic market. There are three Barbadian companies who are mainly

controlling the market of this technology. These companies also have carbon credit

potential.

3.2.4 Waste management in Republic of Korea

The Republic of Korea has a tremendous success in waste management. In this country,

waste materials are reused through recycling process. Although the generation of wastes

has not declined in the country, proper management of wastes has rendered numerous

benefits. The recycling activities are rapidly increasing and as a result, many new job

opportunities are also increasing.

The government’s Extended Producer’s Responsibility (EPR) system requires producers

and importers to recycle a certain amount of waste materials. This system has created 3,200

new jobs and recycled more than 6,000 million tons of waste materials with a monetary

value of $ 1.6 billion. This system has also reduced the CO2 by 4.12.000 tons. The volume

of waste in the country is increasing but the quantity of recycling is also increasing. In

1995, 23.70% of the municipal solid waste was recycled while in 1007, 81.10% of

municipal solid waste was recycled.

40

The quantity of waste which is not recycled is land filled. Korea also has introduced a land

filled gas recovery project. Through this project, land filled gas is recovered and utilized

for electricity generation. In 2009, this project produced 363.229 MWh. This project also

has environmental benefits. It is estimated that by 2017 the project will reduce the CO2

emission up to 7 million tons. It is also estimated that from 2007 to 2017 this project will

save Korea $126 million.

3.2.5 Eco-system restoration in Rwanda

The protection and management of the environment is one of the pillars of Rwanda’s

Vision 2020. The country has undertaken many initiatives to protect ecosystems for income

generation and good governance. Several of these projects are the initiatives to preserve the

Rwandan mountain gorilla and wetland restoration efforts in the Nyabarongo-Akagera

network and Rugezi.

Rwanda is home to the Gorilla beringei graueri, which is one of the world’s rarest species

of gorilla. By collaborating with the Democratic Republic of Congo and Uganda in a shared

commitment to ecosystem restoration, Rwanda has helped to restore the population of this

critically endangered species to a slight increase in the Virungas National Park.

In addition to the ecological benefits of preserving a threatened species, this scheme to

protect the Rwandan mountain gorilla is also generating substantial revenues from tourism.

The country’s booming tourism industry, which now accounts for the biggest share of

national GDP, is driven primarily by the flagship gorilla. After a decline in tourism in the

1990s, gorilla visitation has since increased from less than 1200 tourists in 2000 to a record

of 7417 visitors in 2004. With visitors paying US $375 each to see the gorillas, these

tourists have generated over $3 million in revenue every year since 2005. This has also

contributed to the creation of many new jobs to cope with the management and

maintenance of the National Park and its related touristic activities.

According to the Rwandan government, the majority of the revenue produced by tourism is

reinvested in the park and in wildlife conservation. Some of these profits are also devoted

to local projects in the area so that the local people can also get benefit from the enormous

revenues generated by the park.

41

3.2.6 Feed-in Tariffs in Kenya

Kenya’s energy profile is characterized by a predominance of traditional biomass energy to

meet the energy needs of the rural households and a heavy dependence on imported

petroleum for the modern economic sector needs. As a result, the country faces challenges

related to unsustainable use of traditional forms of biomass and exposure to high and

unstable oil import prices. In March 2008, Kenya’s Ministry of Energy adopted a feed-in

tariff.

A feed-in tariff (FIT) is a policy instrument that makes it mandatory for energy companies

or “utilities” responsible for operating the national grid to purchase electricity from

renewable energy sources at a pre-determined price that is sufficiently attractive to

stimulate new investment in the renewables sector. This, in turn, ensures that those who

produce electricity from identified renewable energy sources such as solar, wind and other

renewable sources have a guaranteed market and an attractive return on investment for the

electricity they produce. Aspects of an FIT include access to the grid, long-term power

purchase agreements and a predetermined price per kilowatt hour (kWh).

It is expected that the FIT policy in Kenya could stimulate about 1300 MW of electricity

generation capacity. If the projected generation capacity is realized, this could contribute

significantly to ensure security of electricity supply in the country by increasing the reserve

margin. As Kenya’s greatest renewable energy potential is in rural areas, the effects of the

feed-in tariff policy are expected to trickle down and stimulate rural employment. This can

happen through the construction of power plants.

3.2.7 Organic agriculture in Uganda

Uganda has taken important steps in transforming conventional agricultural production into

an organic farming system, with significant benefits for its economy, society and the

environment. Organic agriculture (OA) is defined by the Codex Alimentarius Commission

as a holistic production management system, which promotes and enhances agro-ecosystem

health, including biodiversity, biological cycles and soil biological activity. It prohibits the

use of synthetic inputs, such as drugs, fertilizers and pesticides. Uganda uses the lowest

amount of artificial fertilizers in the world. The widespread lack of fertilizer use has been

42

harnessed as a real opportunity to pursue organic forms of agricultural production. A policy

direction has widely been embraced by Uganda.

In Uganda 85% of the population was engaged in agricultural production, contributing to

42% of the national GDP and 80% of the exports earnings in 2005/06. As early as 1994, a

few commercial companies began deliberately engaging in organic agriculture. At the same

time in Uganda, there was a general movement in the agricultural sector towards

developing sustainable agriculture as a means of improving people’s livelihoods.

By 2003, Uganda had the world’s 13th-largest land area under organic agriculture

production and the highest in Africa. In 2004, Uganda had around 185,000 hectares of land

under organic farming covering more than 2 per cent of agricultural land, with 45,000

certified farmers. By 2007, 296,203 hectares of land were under organic agricultural

production with 206,803 certified farmers. This constituted an increase of 59% in terms of

number of farmers and 60% in terms of acreage from 2002 to 2007.

Certified organic exports increased from US$3.7 million in 2003/4, to US$6.2 million in

2004-2005, before jumping to US$22.8 million in 2007/8. In terms of price premiums and

income for farmers, studies commissioned by UNEP and UNCTAD indicate that in 2006

the farm-gate prices of organic pineapple, ginger and vanilla were 300 per cent, 185 per

cent, and 150 per cent higher, respectively than conventional products.

Through organic farming, Uganda not only gains economically but also contributes to

mitigating climate change, as GHG emissions per hectares are estimated to be on average

64% lower than emissions from conventional farms. Various studies have shown that

organic fields sequester 3–8 tones more carbon per hectares than conventional agriculture.

3.2.8 Solar energy in Tunisia

To reduce the country’s dependence on oil and gas, Tunisia’s government has undertaken

steps to promote the development and use of renewable energy. A law established an

“energy conservation system” on energy management in 2005. A fund mechanism was also

created called the National Fund for Energy Management. This found was created to

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support the increased capacity in renewable energy technologies and also to improve

energy efficiency.

From 2005 to 2008, clean energy plans have already allowed the government to save $1.1

billion in energy bills. Primary energy consumption from renewables together with savings

from energy efficiency, reached to 20 per cent of total energy consumption in 2011.

Total financial requirement to implement the plan have been estimated to $2.5 billion,

including $175 million from the National Fund, $530 million from the public sector, $1,660

million from private sector funds and $24 million from international cooperation. The total

fund is expected to be spent by 2016 on 40 renewable energy projects. Approximately 40%

of the will be utilized to the development of energy export infrastructure. The energy

savings expected to result from the Solar Energy Plan may reach 22 per cent for 2016 and

reduction in CO2 may reach 1.3 million tons per year.

3.3 Environmental Performance Index 2014 and top performer countries

In every two years, countries are ranked using the Environmental Performance Index (EPI).

It ranks how well countries perform on high-priority environmental issues in two broad

policy areas: protection of human health from environmental harm and protection of

ecosystems. Within these two policy objectives the EPI scores country performance in nine

issue areas comprised of 20 indicators. Indicators in the EPI measure how close countries

are to meet internationally established targets or how close they are to the expected

achievement (in absence of an internally established target). Recently an EPI has been

published on 25th January 2014. This EPI ranked 178 countries according to their

environmental performances. Top countries in the overall index are:-Switzerland,

Luxemburg, Australia, Singapore, Czech Republic, Germany, Spain, Austria, Sweden,

Norway, Netherlands, UK, Slovenia, Denmark, Iceland, New Zealand, Portugal, Finland,

Ireland, Estonia etc.

The nine issue areas of this index indicate the country’s performance in different

environmental area. Although these issue areas are related to environmental performance,

44

they are closely related to the green economy. So, this section of the paper will highlight

the top countries in each issue area of EPI 2014. These nine issue areas of EPI 2014 are:

1. Health impacts

2. Air quality

3. Water and sanitation

4. Water resource

5. agriculture

6. Forests

7. Fisheries

8. Biodiversity and habitat

9. Climate and energy

Top performer countries in different issue areas are in the following table:

Table 3(h)

SL

No.

Issue areas Top performer countries

01 Health impacts Sweden, Cyprus, Slovenia, Germany, Portugal,

Finland, Canada, United Kingdom, Singapore, Brunei

Darussalam, Italy, Australia, Czech Republic, France,

Netherlands, Ireland, Switzerland, Denmark,

Norway, Macedonia etc.

02 Air quality Uruguay, Palau, Grenada, Mauritius, Barbados,

Antigua and Barbuda, Seychelles, Trinidad and

Tobago, Dominica, Argentina, Algeria, Venezuela,

Tunisia, Morocco etc.

03 Water and sanitation Denmark, Sweden, Japan, Luxembourg, Australia,

Finland, Singapore, Austria, Qatar, Netherlands,

Belgium, Taiwan, Switzerland, Israel, Norway,

Malta, Germany, Cyprus, United Kingdom, Iceland,

France etc.

45

SL

No.

Issue areas Top performer countries

04 Water resource Singapore, Netherlands, United Kingdom,

Switzerland, Germany, Luxembourg, Denmark,

Spain, Australia, Italy etc.

05 Agriculture Singapore, Cameroon, Ecuador, Liberia, Panama,

Trinidad and Tobago, Jamaica, Serbia, Argentina,

Guatemala, Fiji, Kyrgyzstan, Guinea, Algeria,

Venezuela, Macedonia, Sudan, Kenya, Saudi Arabia,

Gambia etc.

06 Forests Chile, Ireland, Hungary, Serbia, Bosnia and

Herzegovina, Tunisia, New Zealand, South Africa,

Australia, Montenegro, Moldova, Mauritius,

Uruguay, Cuba, Morocco, Georgia, Bulgaria, Iran

etc.

07 Fisheries Sri Lanka, Timor-Leste, Solomon Island, Seychelles,

Palau, Barbados etc.

08 Biodiversity and habitat Zambia, Kiribati, Germany, Slovenia, Brunei

Darussalam, Botswana, Estonia, Switzerland,

Luxembourg, Serbia, Zimbabwe, Belize, Czech

Republic, Central African Republic, United Arab

Emirates, Latvia etc.

09 Climate and energy Papua New Guinea, Singapore, Albania, Spain,

Azerbaijan, Portugal, Switzerland, Sweden, Jamaica,

Norway, Ireland, Slovakia, Qatar, Nigeria, Denmark

etc.

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CHAPTER 4

Green Economy in Bangladesh

Bangladesh is a small country with a large population. Although the country is gradually

developing, it faces many economic problems. Again, it is one of the worst sufferers of

climate change. In this situation, green economy can play an important role to solve the

economic and environmental crises here. But the green economic initiatives taken here are

insufficient and the country is very slowly advancing towards green economy. This chapter

of this paper will present the following issues:-

4.1 Probable benefits that Bangladesh can get from green economy.

4.2 Important initiatives towards green economy in Bangladesh

4.3 Sector-wise advancement of green economy in Bangladesh and

4.4 Bangladesh in Environmental Performance Index (EPI) 2014

4.1 Probable benefits that Bangladesh can get from green economy

Besides protecting the environmental degradation, green economy can foster socio-

economic development of Bangladesh in many ways, for example:-

Green economy can create numerous job opportunities in Bangladesh through green

agriculture, renewable energy, green banking and proper waste management.

Green economy reduces the carbon emission from the transportation and industrial

sectors. So, if properly adopted, green economy will facilitate carbon credit business

in Bangladesh.

Energy crisis in Bangladesh can be reduced through large scale utilization of

renewable energy which is an integral part of green economy.

If the use of renewable energy becomes popular, government will be able to save

much cost on traditional energy sector.

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Green economy can increase food production in Bangladesh through green

agriculture. As a result, the country can achieve food security.

Bangladesh can effectively preserve its natural resources, biodiversity and ecology

through green economy.

Forestation, one of the most important parts of green economy, can increase

forestlands in Bangladesh. These forestlands will directly minimize natural

calamities in this country. As a result, the country will be able to get rid of huge loss

per year.

Forestation and conservation of natural environment will enhance natural beauty

which in turn will enrich tourism industry of Bangladesh.

By protecting pollutions and reducing the use of poisonous chemical items, green

economy can contribute to improve public health.

Water crisis in Bangladesh can be minimized through the adoption of green

economy because this economy puts much importance on sustainable water

management.

Green economy will increase economic activities, create more employment

opportunities and foster economic growth in Bangladesh. Thus, this economic

system will increase the income of people and reduce poverty.

Proper adoption of green economy will ensure social equity, social justice, gender

equity and social welfare because all of these positive social elements fall under the

area of green economy.

4.2 Important initiatives towards green economy in Bangladesh

Although Bangladesh is very slowly transitioning towards green economy, some very

significant initiatives have been taken in this country in the recent years. Some of these

initiatives are as following:-

Sustainable & Renewable Energy Development Authority Act (SREDA) has been

approved by the government.

Government has adopted plans to increase the use of renewable energy specially the

solar energy and biogas technology.

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Tax exemption has been declared on the commercial production of renewable

energy.

Green banking policy has been circulated by Bangladesh Bank.

Coastal afforestation projects have been initiated.

In the transportation sector, government is trying to increase the use of fuels that

cause less pollution.

CDM projects have been undertaken to produce compost from the urban wastes.

These projects have already got carbon credit.

Project has been undertaken to introduce environment-friendly technologies in the

brick kilns.

4.3 Sector-wise advancement of green economy in Bangladesh

4.3.1 Green banking in Bangladesh

Bangladesh Bank, the central bank of Bangladesh, issued the ‘Policy Guidelines for Green

Banking’ on 27th February, 2011. This was the first formal initiative undertaken to

introduce green banking in Bangladesh. This policy had three phases and all the scheduled

bank were directed to implement those phases within three years.

The policy guided that the implementation of the first phase should not exceed 31st

December 2011. The components of the first phase were- formulating green banking

policy, incorporating environment risk rating in credit risk management, initiating in-house

environment management, introduction of green finance, creating climate risk funds,

introducing green marketing, promoting on-line banking, supporting employee training,

creating customer awareness disclosing and reporting green banking activities etc.

The contents of the second phase were- sector specific environmental policies, green

strategic planning, setting up green branches, improving in-house environment

management, formulating environmental risk management plan, undertaking rigorous

programs to create customer awareness and reporting green banking activities etc. The

scheduled banks were directed to implement this phase within 31st December 2012. Finally,

the contents of the third phase were- introducing green banking products and report green

49

activities with external verifications. This phase was to be implemented within 31st

December 2013.

The policy guidelines of Bangladesh Bank have many remarkable outcomes. For instance,

up to 2012-

All the scheduled banks have formulated their own green banking policies.

47 banks have introduced green banking unit and green office guide.

Environment risk rating has been performed for 12088 projects of which 11165

projects have been financed.

214 branches and 161 ATM offices are running by solar energy.

38 banks are fully automated.

Out of total 8392 branches of all the scheduled banks, 3445 (41.05%) have online

banking facility.

Taka 90.42 million has been utilized for green marketing training and development.

Taka 703633.21 million has been disbursed for green banking purposes.

Taka 270921.53 million has been disbursed as green finance.

Taka 258.89 million has been used from climate risk fund.

25 banks have been given license for providing mobile financial services of which

16 banks have already started providing these services. These banks are providing

mobile financial services to 3.6 million customers and average transaction volume is

around taka 330 million per day. The number of customers in mobile banking is

growing at the rate of 20% per month.

Most of the banks are providing 24-hour banking services through their ATM

booths. Until 2012, 4738 ATM were in operation.

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The top 10 banks for allocating budget in green finance for the year 2012 were as

following:

Table 4(a)

No. Bank Budget

allocation

(Million

taka)

No. Bank Budget

allocation

(Million

taka)

01 EXIM Bank 2500 06 Shahjalal Islami Bank 992.50

02 BASIC Bank 1200 07 One Bank 729.56

03 Bank Asia 1200 08 Islami Bank 542.37

04 Social Islami Bank 1040 09 Agrani Bank 500

05 Standard Chartered

Bank

1000 10 Al-Arafah Islami Bank 500

Source: Annual Report on Green Banking 2012, Bangladesh Bank

4.3.2 Renewable energy in Bangladesh

Bangladesh is a developing country and the demand of energy is increasing at the rate of

10% per year in this country. Traditional energy sources (natural gas, coal, petrol etc.) are

not sufficient to meet this increasing demand. Moreover, the natural gas is likely to be

depleted by the year 2020. In such a condition, the utilization of renewable sources (solar

energy, wind energy, biogas energy, ocean wave energy, tidal power, hydro power,

geothermal energy etc.) can be the best solution for this country.

Traditional renewable energy sources have great importance in Bangladesh. Almost 65% of

the final energy demand of the country is met by the traditional biomass fuels (fire wood,

tree branches, cow dung, bamboo, straw, husk, leaves etc.). Solar thermal energy has been

utilized in many households and industries in this country for different purposes, for

example- open air drying of agricultural products, production of salt from the sea water,

drying of cloths and fishes etc. Again, wind energy is used in sailboats in the rivers. But the

use of modern renewable energy technologies is increasing now-a-days. Solar panels, Solar

Home System (SHS) and biogas plants are the most commonly used modern renewable

technologies in Bangladesh.

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Bangladesh is a subtropical country and 70% of the year sunlight is dropped here. So, we

can easily use this sunlight or solar energy to generate electricity. In fact, we are gradually

advancing in this regard. Many initiatives have been taken to encourage people in using

solar energy. Almost every newly built apartment uses solar panels with grid connection to

get support during the load shedding periods. Many NGOs are working in the rural areas to

provide people with solar panels with low costs. Until the middle of 2013, 14, 29,440 Solar

Home System (SHS) have been in the rural areas of the country.

Biogas is another popular source of renewable energy in Bangladesh. It is produced by the

biological breakdown of organic matters in the absence of oxygen. Organic wastes such as

dead plant and animal material, animal dung and Kitchen waste can be converted into a

gaseous fuel called biogas. Biogas is a form of biofuel. A major component of biogas is 40-

70% methane (CH4). More than 24000 biogas plants have been installed in different parts

of Bangladesh. Grameen Shakti is one of the largest NGO in the field of biogas. They have

completed 13,500 biogas plants. Recently Seed Bangla Foundation has proposed a 25 KW

Biogas based Power plant in Rajshahi. IDCOL, a government owned investment Company,

fixed a target to set up 37,669 biogas plants in Bangladesh by 2012. The company also

decided to install 25% of theses biogas plants in the northern region. Besides working in

partnership with IDCOL, some organizations have constructed domestic biogas plants with

their own funds. These organizations include Grameen Shakti (3,664 plants), BRAC (3,664

plants of their own) and other private organizations.

Wind power is the conversion of wind energy by wind turbines into a useful form, such as

electricity or mechanical energy. The power is directly proportional to the velocity of wind.

The velocity of wind in the coastal areas, islands, the northern part, high lands and the hills

of Bangladesh is sufficient to run wind turbines. So, the country has a great potential of

generating wind power. Bangladesh Power Development Board (BPDB) has implemented a

0.90MW capacity of the grid connected Wind Energy (GCWE) at the Muhuri Dam areas in

the Feni district in 2004. This is the first GCWE projects in Bangladesh. Again, in 2008,

Bangladesh Power development board (BPDB) implemented a 1000KW capacity wind

battery hybrid power project on the Kutubdia Island in the Cox’s bazaar district. Under this

project, 50 stand-alone wind turbines were installed. Each of those turbines had a capacity

Of 20 KW. The total capacity of all the wind turbines was to be stored in a battery bank.

52

Thus generating electricity from wind in the coastal areas can be transmitted to other

regions of the country through the high voltage transmission lines. Very little operation and

maintenance costs will be required during the whole life time of the wind turbines and no

fuel will be required for generating electricity from wind.

The flowing and falling of water is also used as the source of hydro power in Bangladesh.

But this renewable technology has a limited use in this country. At present only, 230 MW

of hydro power is utilized in Karnaphuli, Rangamati Hydro Station. It is the only hydro

power plant operated by Bangladesh Power Development Board. Micro-hydro power plants

and mini-hydro power plants have potentials in the Chittagong and Chittagong Hill Tracts.

In these areas, the assessed capacity of plants is 10 KW to 5 MW.

Ocean wave energy, geothermal energy and tidal power also have great potential in

Bangladesh. But none of these renewable energy sources are utilized in this country.

4.3.3 Green employment or green jobs in Bangladesh

In 2010, a report of International Labor Organization (ILO) estimated that there were 3.5

million core environment-related jobs in Bangladesh. 8, 00,000 of these jobs could be

considered green as they met the decent work standards. Core environment-related jobs and

green jobs accounted for nearly 7% and 2% respectively of total jobs (49.5 million) in the

economy. Climate adaption activities and sustainable construction were mostly among the

identified green jobs. Among the green jobs these category had 62% and 21% share

respectively.

On an average nearly $2 billion is spent on adaption activities each year. These investments

support around 1.7 million jobs in key sectors like agriculture, water, construction, flood

protection, cyclone shelters, water efficient irrigation, early warning system and public

administration.

National survey suggested that 66% of all the construction and infrastructure companies

incorporate green building criteria in their business activities. It was estimated in 2006-

2007 that one million workers were engaged in such construction business that adopt green

53

job requirements in terms of technology and construction materials. However, only 40%-

50% of these jobs were complying with nation occupational health and safety standards.

So, 530,000 to 6, 70,000 jobs in the construction were considered as green.

Green jobs were also found in sustainable manufacturing. There were 7,448 green jobs in

energy efficient brick kiln manufacturing. Again, 3340 green jobs were identified in clean

air and sustainable environment projects.

The report of ILO also identified green jobs in waste management, recycling and

sustainable energy. The number of green jobs in these was very small but it was increasing

rapidly. The report identified 90,000 jobs in urban waste composting and 68,000 jobs in

recycling. Sustainable agriculture and sustainable forestry were also found to provide

41,548 and 28,813 green jobs respectively.

4.3.4 Green transportation in Bangladesh

Transportation of Bangladesh was greener in the past. Most of the vehicles used by the

people in that time were non-motorized. Animal-power, human-power and wind energy

were utilized to run vehicles. Fossil fuel based transportation was limited. But with the

advancement of economy, the number of fossil fuel based vehicles has increased. As a

result, transportation sector has become one of the biggest sources of Green House Gas

(GHG) in Bangladesh. Although man and car ratio is very low in this country, it is

increasing rapidly in the urban areas. This situation is causing environmental degradation in

this country. At present, greening the transportation sector has become a demand of time.

Despite many obstacles, there is a high potential of making transportation sector green and

environment friendly in Bangladesh. This country is well ahead in the way of green

transportation. Government has increased taxes on private cars to encourage public

transport. Compressed Natural Gas (CNG) has been introduced as a fuel alternative of

petrol and diesel. These steps can be considered as important measures towards green

transportation system.

On the other hand, a significant number of vehicles in this country are non-motorized at

present times also, for example- rickshaw, van, pulling-cart, bicycle, boats etc. These non-

54

motorized vehicles also play an important role in the way of greening transportation sector

in the country although they are slow and less efficient.

4.3.5 Green agriculture in Bangladesh

Being an agrarian country, many opportunities exist in Bangladesh for promoting green

agriculture. Green agricultural practice reduces application of synthetic chemical fertilizers

and pesticides while providing low-input alternatives to high-intensity agricultural

activities. In Bangladesh green agriculture practice has many forms that include organic

farming, mushroom cultivation, bee keeping, sericulture, bio-slurry, pesticide free

vegetables and water conservation.

Although many farmers fear that production may reduce at primary stage in green

agriculture, low input green agriculture eventually creates much profit than conventional

mechanized agriculture. At the same time, green agriculture also improves ecosystem

health. In addition to existing bulk labor engagement in agriculture sector, green agriculture

will create additional 41,548 jobs annually in Bangladesh (ILO, 2010). However, greening

the agriculture is facing many obstacles in this country. Some of these include rapid

contraction of arable agricultural land, lack of adequate organic fertilizer, insufficient

environment friendly technologies, lack of skilled manpower and awareness about green

agricultural practices, population growth, changing pattern of demand driven by increased

income, increasing vulnerability of agriculture to climate change etc.

4.3.6 Waste management in Bangladesh

Proper waste management is the prerequisite to green economy. Bangladesh is very much

lagging behind in this field. The current generation of waste is 22.40 million tons per year

and the growth rate of waste generation is gradually increasing day by day. Bangladesh has

very insufficient waste collection coverage. In the major cities of the country, the waste

management measures are very poor but the sources of waste generation mainly situate in

these cities. In the city of Dhaka, which is the capital of the country, only 37% waste is

collected and disposed. So, the largest portion of generated waste remains uncollected and

causes environmental degradation in the country.

55

The Bangladesh Poverty Reduction Strategy Paper (PRSP) acknowledged the concept of

3Rs (reduce, reuse and recycle) and proposed to promote these in order to improve

hazardous and unsustainable waste management practices. Sixth Five Year Plan (2011) also

emphasizes on measures towards management of wastes and generating electricity from

waste for sustained development.

The opportunities for greening the waste sector come from some inter-related sources:

1) Growth of the waste market, driven by demand for waste services and recycled

products such as recycled paper, plastics etc.

2) Increased scarcity of natural resources and the consequent rise in commodity prices,

which positively promotes the demand for recycled products and the waste to energy

(WtE).

3) Emergence of new waste management technologies (UNEP, 2011).

4) Creation of new jobs in waste management sector is also a promising prospect. Waste

Concern (2010b) estimated that waste management can create more than 1, 50,000 jobs

in the country.

4.3.7 Water management in Bangladesh

Water management is an inseparable component of green economy. For advancing towards

green economy, Bangladesh needs to ensure proper water management. Unfortunately, the

water management system in Bangladesh is very weak. Industries, households, watery

vehicles and chemical based farming are continuously polluting the water. The level of

ground water is declining by 3 meters per year due to excessive use of water. Wicked

grabbers and encroachers illegally grab rivers, canals, lakes and hamper the natural flow of

water.

In spite of all the above unfavorable factors, Bangladesh has good potential in proper water

management. The ‘Water Act 2013’ has been published through gazette notification on 2nd

April 2013. According to the act, the ownership of all forms of water (surface water,

56

ground water, rain water, sea water, atmospheric water etc.) will be rested on the

government on behalf of the people. People will be allowed to use water for drinking and

household purposes but withdrawal of large scale water is under the permission of

concerned government authority. At the same time, impeding the natural flow of water,

grabbing the watery lands, polluting water and changing the quality of water has been

declared as punishable offence under this act. This act also includes many other guidelines

for efficient water management and hopefully, the proper implementation of this act will

improve the water management system of the country.

4.3.8 Land management in Bangladesh

Land is the most sought-after resource in Bangladesh. Land management should be

sustainable in this country because it is limited and expensive. Over population, unplanned

housing, unplanned industrialization, depleting agricultural lands and reducing fertility are

creating immense pressure on this limited land. Moreover, the results of climate change, for

example rising water level, natural disasters and increasing salinity, are causing the loss of

habitable lands. As a result, sustainable land management has become a vital need for

Bangladesh. But lack of comprehensive policy, careful planning, corruption, political

interventions and obsolete management policy make land management unsustainable in this

country.

Although the land management scenario in Bangladesh is very disappointing, we can hope

for a proper land management in the future because the government is taking many

effective measures in this regard. For example-

Preparing digital land zoning maps for all the districts by 2014

Digitalization of overall land management by establishing Digital Land

Management System (DLMS)

Drafting ‘Agricultural Land Protection and Land Use Act 2012’

Taking steps to establish Land Information Service Centers in upazilla level

Deciding to keep land management system under a single department

Proper implementation of all these measures will contribute to sustainable land

management and green economy in the country.

57

4.3.9 Forestry in Bangladesh

Forest plays an important role in greening the economy of Bangladesh. Forest protects

natural calamities, absorbs carbon di-oxide, conserves biodiversity, protects soil erosion,

creates green jobs and provides many other economic and social benefits. The forest land of

Bangladesh is insufficient, almost 17% of the total area. But in the recent years, many

projects have been undertaken by the government and NGOs to increase the forest land.

These projects include reforestation, social forestry, agroforestry, tree plantation,

afforestation, conservation of forest, protecting biodiversity, nursery business and

maintaining protected areas. In 2009, there were 24 protected areas (2, 59,000 hectors)

under the forest division. Government has a plan to increase the protected areas by 10%

within 2015. All these projects and plans will ensure sustainable forestation for green

economy in Bangladesh.

4.4 Bangladesh in Environmental Performance Index (EPI) 2014

Bangladesh is one of the worst performers in the Environment Performance Index 2014.

The country ranked 169th out of 178 countries. In 2012, the country was in 115th position

out of 132 countries. In constructing this index, 20 environmental issues are considered by

their respective indicators. This index presents both the ‘current performances’ and the ‘10

year change’ for each issue. The performance of Bangladesh in EPI 2014 can be

summarized as following:-

Bangladesh did very well in the agricultural sector. In providing agricultural

subsidy, the country ranked first. Moreover, Bangladesh also performed very well in

pesticide regulation. The 10 year change shows that in agricultural sector the

performance of the country is increasing.

Bangladesh also has high performance in keeping marine protected areas.

In reducing child mortality rate and in ensuring electricity accessibility, Bangladesh

has the average performances. But the 10 year change shows that in these two areas,

the country is gradually improving.

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Access to drinking water index and access to sanitation index show very poor

performance. But the 10 year change shows that in these two areas the country is

gradually improving.

The performances of Bangladesh in forestry sector and in fisheries sector are also

very poor.

Bangladesh has the worst performance in maintaining air quality. In fact, the

country has the lowest performance among the 178 countries in maintaining air

quality. Moreover, the 10 year change shows that air pollution is rapidly increasing

and air quality is highly degrading in this country.

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CHAPTER 5

Challenges & Recommendations

The previous chapter has presented the level of advancement of green economy in

Bangladesh. In fact, the country faces many challenges in the way of greening its economy.

This chapter will present the analysis of the prospects of green economy in the country and

identify the challenges. At the same time, some recommendations to overcome those

challenges will also be presented here.

5.1 Prospects of green economy in Bangladesh

The study of this project has some very important findings regarding green economy in

Bangladesh. For analyzing the prospects of green economy in this country, we have to

consider those findings. Firstly, some sectors of green economy have significant

advancement in Bangladesh, for example- green banking and renewable energy. Again

some sectors have very little advancement, for example- water management, waste

management, land management etc. But it is beyond doubt that all the sectors of green

economy are gradually advancing at present in this country.

Secondly, some sectors of green economy require the formulation of appropriate policies,

laws, rules and regulations, for example green banking, forestation, water management etc.

Again, some sectors require technological advancement and innovations, for example

renewable energy, green transportation, waste management etc. But there are lackings in

formulating appropriate policies, rules, regulations from the part of the government.

Moreover, technological advancement and innovations are also very limited in the country.

Finally, the study of this project has found that government of Bangladesh is trying to

implement many initiatives which will facilitate the advancement of green economy in the

country. Many private firms are also coming forward with their better technology and

innovations, especially in the field of renewable energy and in waste recycling.

Nevertheless, the country will have to deal with many challenges in this regard.

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Considering all these findings, we can say that green economy has good prospects in

Bangladesh but the country will have to go a long way for successful implementation of

this economic system.

5.2 Challenges towards green economy in Bangladesh & recommendations

Sectors Challenges identified Recommendations Green Banking

State-owned commercial banks and specialized development banks have poor performance in green banking. Of the allocated green finance in 2012, only 2% was from state-owned commercial banks and 3% was from specialized development banks.

State-owned commercial banks and specialized development banks also lag behind in the implementing online banking. Only 5.08% branches of the state-owned commercial banks and 5.28% branches of the specialized development banks have online banking facility.

Lack of awareness among the employees, top management and customers.

Effective capacity building among banking staffs.

Lack of co-ordination among the concerned authorities.

Proper steps should be taken by Bangladesh Bank to improve the green banking practices in state-owned commercial banks and in specialized development banks.

Government and Bangladesh Bank should increase public awareness regarding green banking through mass media.

Effective initiatives to be undertaken to increase the awareness of the top management and employees of banks regarding green banking and its practices.

Customers and borrowers should be encouraged to take green banking products and to go green.

Concerned authorities in the field of green banking should have coordination among themselves.

Banking staffs should be provided with more effective training on green banking.

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Sectors Challenges identified Recommendations Renewable energy

There are very little incentives from the government for promoting the use of renewable energy.

Only the import of solar panels gets tax facilities. Other materials related to renewable energy are subjected to high taxes.

Lack of skilled technicians and engineers to work in this area.

Training and retaining the work force in the field level is also very difficult.

Lack of legal and regulatory measures.

Absence of coordinating agency. Renewable Energy Development

Authority (REDA) has been approved but not established.

Lack of knowledge about the use of renewable energy and its market potentials.

Renewable Energy Development Authority (REDA) should be established as soon as possible.

Incentives should be granted for the production of renewable energy and the materials and instruments of producing renewable energy should be subjected to low tax or no tax.

Encouraging people to use renewable energy and performing researches on its potential market.

Government and NGOs should increase training programs to create experts, technicians and skilled workforce in this area.

Through private public partnership, government should increase investment in capital development and R&D related to renewable energy sector.

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Sectors Challenges identified Recommendations Green transportation

Rapid increase in the number of motor vehicles.

A large number of unlicensed vehicles and old vehicles.

Lack of suitable and sufficient public transport means.

Insufficient rail transport. High costs associated with

installing environment-friendly technologies in the vehicles.

Lack of legal and regulatory actions against pollution.

Inefficient monitoring of authorities.

Old and unlicensed vehicles should be removed through proper legal actions.

Imposing higher taxes on the purchase of vehicles to minimize the number of vehicles.

Effective and sufficient public transportation modes should be introduced.

Multi-modal transportation system should be introduced.

Rail transport system and water transportation system should be improved and popularized through government actions because these transportation systems create less pollution.

Improving legal, regulatory and monitoring activities by the concerned authorities.

Environment-friendly technologies and fuels should be made available for the vehicles at reasonable costs.

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Sectors Challenges identified Recommendations Green agriculture

Possibility of reducing production at the primary stage.

Lack of public awareness. Lack of skilled manpower. Decrease of agricultural lands. Lack of adequate organic

fertilizer Insufficient supply of required

instruments. Negative impact of climate

change. Changing demand of people.

Creating awareness regarding organic farming among the farmers.

Government and instates engaged in agricultural development should work in collaboration to create skilled work-force for green agriculture.

Organic fertilizers and instruments for green agriculture should be made available.

Government can formulate separate policy for green agriculture.

More flexible credit facilities from the government, banks and NGOs can be provided for green farming to encourage the farmers.

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Sectors Challenges identified Recommendations Green employment

Loss of biodiversity. Continuous exhaustion of

natural resources like water and fertile land.

Lack of public awareness and poverty.

Insufficient government initiatives for creating green jobs.

Problems in upgrading hazardous jobs into green jobs.

Lack of research and information on green jobs.

Disorganized efforts from the government, private companies and NGOs.

Conservation of biodiversity and natural resources.

Creating public awareness and green job opportunities.

Government should have effective action plans to increase green job opportunities.

Government and NGOs should perform more research on green employment and disseminate information in this regard.

For promoting green employment in the country, government, private companies and NGOs should have organized and combined efforts.

Proper steps should be taken by the concerned authorities and employers to transform environmentally hazardous jobs into green jobs.

65

Sectors Challenges identified Recommendations Waste management

High quantity of waste generation per year.

Inefficient waste collection and disposal measures.

Lack of public awareness. Insufficient recycling facilities. Legal frameworks for waste

management and waste control are very weak.

Lack of financial, institutional and infrastructural facilities for proper waste management.

Waste collection and disposal systems of concerned authorities should be improved.

Public should be made aware regarding the proper disposal of wastes.

Small recycling industries should be patronized by the government through tax incentives and low-interest loans.

Government should develop institutional and infrastructural facilities for proper waste management. In this case, government can use several options, for example- utilizing its own fund, going for public private partnership and collecting finance from the development partners.

66

Sectors Challenges identified Recommendations Water management

Municipal wastes and industrial wastes are directly released in the rivers.

Decrease in ground water level. Water logging and arsenic

contamination. Requirement of large and lumpy

capital investment for water management.

Floods in wet season and drought in dry season.

Expending water needs of growing economy and population.

Siltation and river erosion. Lack of control over rives

originating outside the national border.

Weakness in water related authorities and acts.

Modern waste treatment methods should be used and wastes should not be directly released in the rivers.

Both of the industrial users and individual uses should be made aware to reduce the wastage of water resource. This will positively contribute to retain water level.

Government and concerned authorities should take proper measures to deal with water logging, arsenic contamination, floods, siltation, river erosion and droughts.

Steps of national and international levels should be taken to get the equitable share of water from the rivers originating outside the national border.

Water can be reserved in the wet season and this reserve can be used in the dry season.

Concerned authorities and water related laws should be strengthened.

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Sectors Challenges identified Recommendations Land management

Over population and increased demand for housing.

Unplanned urbanization and industrialization.

Rising water level and land erosion.

Unlawful grabbing of lands by influential people.

Corruption in land management authority.

Problems in modernizing the land management system.

Concerned authorities should ensure well-planned housing, urbanization and industrialization.

Land grabbing should be checked properly and government and authorities concerned should have strong commitment in this regard.

Modernizing the land management system and preventing corruption in this system.

Proper allocation of land resources among different economic sectors should be ensured.

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Sectors Challenges identified Recommendations Forestry Over exploitation of forest lands

and other forest resources. Unplanned development

programs destroying forests. Illegal cutting down and stealing

trees. Increasing encroachments. Weakness and corruption in

forest management system. Proper application of forest

policies. Poverty and unawareness of

people.

We should educate mass people regarding the negative impacts of cutting trees.

Agro-forestry should be prioritized to deal with deforestation.

Over exploitation of forest resources, illegal cutting down trees, corruption in the forest management, and encroachment over forest lands should be controlled strictly.

Policies and laws related to environment and forest should be strengthened and implemented properly.

Alternative employment creation programs should be launched for the poor people near the forest lands.

We should plant more and more trees.

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Sectors Challenges identified Recommendations Others Most of the brick kilns (almost

83%) do not use environment-friendly technologies and create air pollution.

High air pollution from the other industrial undertakings.

Cutting trees at random during political violence.

Not applying the environmental policies properly.

Trivial punishment for creating pollutions and environmental degradations.

Government should take right steps to prevent all sorts of pollutions.

Environment policies and laws should be imposed so strictly that the industrial producers are bound to use environment-friendly technologies.

Polluters-pay principle should strictly be used and equitable compensation should be collected from the polluters.

Rigorous financial and non-financial punishments should be ensured to discourage environmentally harmful activities.

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Conclusion

For our existence on earth, we need both the economic growth and the environmental

sustainability. There is no scope of sacrificing one of them for the other. But our unwise

economic activities are damaging the natural environment of the earth. As a result, our

beautiful earth is continuously becoming unsafe for living. It is high time, we thought for

preserving our natural environment through the adoption of green economy. Not only the

developed countries should adopt green economic system but also the developing countries

should adopt it for its promising prospects. This economic system with its promising

prospects can play an important role in resolving economic crisis and environmental

degradation in Bangladesh.

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