Green economy: Some frequently asked questions in the context of development countries

This article summarizes some of the key elements of the green economy transitions that are especially relevant to developing contries. It answers some frequently asked questions about these green economy voluntary transitions: What is a green economy? What are its main features? What are the main conclusions of the green economy report published by UNEP? What are the implications of green economy transitions for employment, social equity and trade? Should countries be worried about protectionism as a consequence of undertaking voluntary green economy transitions? What are the main strategies that can be used to reduce poverty within the context of these transitions? What is the role of subsidies in a green economy? What are the consequences of a green economy for agriculture, the manufacturing sector and the services sector? How can countries be assisted in this transition? The article concludes that developing countries that voluntarily commit to undertaking green economy transitions benefit enormusly from the process. Income growth while ensuring an increase in total employment and a reduction in poverty are some of its consequences. Investments that are required for these transitions can be funded by a shift away from traditional sectors and the benefits ca be used to finance social safety net programmes. We also present some examples of specific policies.