Green Economy: What is Green Economy and What are the Advantages?
Have you ever heard of Green Economy? Are you interested in learning more? Whatever you have heard about it or not, you are in the right place to gain a great understanding of the concept. In today’s blog post, we are going to address the 3 points below:
Green Economy: What is it?
The term ‘Green Economy’ is an economic concept which captures environmental, social, and economic dimensions. The concept implies the need for economic growth while reducing unsustainable pressure on the quality and quantity of our natural resources.
Starting from the extraction and processing of raw materials to the disposal of a product, the production process can have a negative impact on the environment. This leads to overproduction, degrades communal bonds, and destroys nature, threatening our existence and negatively impacting economic and social activities.
Over the last few years, the concept of Green Economy has arisen from the need to resolve these critical issues and to create a sustainable, fair, and inclusive economic system. Through public and private investments, the system aims to:
- reduce energy consumption;
- reduce greenhouse gas emissions and the amount of waste generated during the entire life cycle of a product;
- reduce the consumption of natural resources by increasing the efficiency of their use;
- ensure the conservation of biodiversity.
To achieve these goals, Green Economy relies on the use of renewable resources and the recycling and regeneration of waste. Concrete actions aim at minimizing waste, reducing environmental pollution and global warming, and preventing the exhaustion of resources.
The result is a green economic system capable of:
- generating wealth;
- guaranteeing a good quality of life by reducing environmental risks and ecological scarcity;
- creating jobs and eliminating poverty by promoting well-being and social equity.
Green Economy and Sustainable Development
Green Economy is a concept that creates a sustainable low-emission world beneficial to both our society and planet. It involves a sustainable development that guarantees GDP increase and at the same time preserves and protects nature and secures human and social well-being.
Sustainable development ultimately implies the ability of living fairly and in dignity without destroying nature and ecosystems from which we draw essential resources for our survival and future generations.
Green Economy: Examples
Let's now take a look at some examples.
Zero Plastic Waste Policy
Plastic-free policies are a key priority for any company that has committed to Green Economy. These policies support the ban of single-use plastics at any stage of the production cycle (both for products and packaging).
KAMPOS is at the forefront of the fight against marine pollution and contributes to reducing plastic in our seas. We have put in place a zero-plastic policy, implying that our products and packaging only use recycled and sustainable materials.
Eliminating Harmful Substances
Green Economy eliminates hazardous emissions with its preventive approach towards the management of harmful substances.
The approach plays an essential role in preserving water resources and guaranteeing fresh water on our planet.
The production process of Newlife™ recycled PET, one of the materials to make KAMPOS’ swimwear, is an excellent example of eliminating harmful substances from the production cycle. It takes advantage of temperature variations to spin the fabric, completely eliminating chemicals that are normally used for this type of process.
KAMPOS, Sustainable Swimwear Made in Italy
Since the launch, KAMPOS has embraced positive social and environmental change as part of our business model. The brand offers a range of products made from recycled plastic bottles, abandoned fishing nets, recycled nylon and/or organic fabrics. All products are recyclable infinitely, allowing them to respect and give back to the Earth.
At the end of August 2020, KAMPOS officially joined the Positive Luxury brand community and earnt the influential Butterfly Mark. The accreditation enables KAMPOS to verify its environmental and social journey towards guaranteed transparency, confirming its position as a brand to trust. To find out more, please click here.
Green Economy: Advantages and Disadvantages
After discussing the definition of Green Economy, we are now ready to analyze its advantages and disadvantages.
The simple definition of Green Economy sufficiently clarifies how its adoption benefits both companies and society. Nevertheless, we have decided to summarize the 4 most immediate benefits of this concept:
- reduction of production and costs resulting in a more responsible use of raw materials and an increase of efficient energy consumption;
- reduction of waste through recycling and reuse of products that have reached the end of their life cycle;
- creation of new jobs (e.g. project managers, consultants, installers, coordinators, etc.);
- increase in sales that address environmental issues and respect the planet.
There are no real disadvantages when we talk about Green Economy, however, the concept faces some challenges.
Firstly, there is a need for a real transformation of our society. Unfortunately, many companies and communities are not ready for this change.
Green Economy requires companies to acknowledge and become aware of their corporate social responsibility, to adopt new processes and to lower their environmental impact as much as possible. In many countries, this concept is still far from becoming a reality.
Fortunately, in many areas of the world, organizations have emerged to support and accompany companies in their transition to a green and sustainable corporate approach. Among them is the Sustainability Accounting Standards Board, an independent US body, who since 2011 has been promoting companies committed to sustainability, to favorize investments.
The second challenge lies in the transition to Green Economy in developing countries. They face increasing environmental problems and high poverty. In these regions, adopting an effective green economic system is complicated and requires more complex bioeconomic analysis.
Green Economy: Conclusion
At KAMPOS, we believe that the values of sustainability and social equity are fundamental factors to achieve human and environmental well-being. Since the launch, we have been committed to taking actions and implementing a green and sustainable concept that supports both our planet and society.
If you want to know more about our commitment to Green Economy, please get in touch with us. We will be happy to provide you with any additional information you may need.