How can we have balance between environment and economic growth and does economic growth help the environment?
We have written several articles and book chapter on this question. It is important to foster Education in order to increase real Production per capita without increasing damage to the environment. See Entry 46, of year 2021, at our Blog on World Development, https://euroamericanassociation.blogspot.com
certainly
One of the factors for economic growth in any country is achieving a sustainable environment
Yes, economic growth will be undermined without adequate environmental safeguards, and environmental protection will fail without economic growth. The earth's natural resources place limits on economic growth. These limits vary with the extent of resource substitution, technical progress, and structural changes. Implement sustainable practices: Businesses and industries can adopt sustainable practices such as using renewable energy sources, reducing waste and emissions, and improving resource efficiency. These practices can help reduce the impact on the environment while supporting economic growth. Economic growth, in turn, is important for the prosperity and wellbeing of the economy and its citizens – in both advanced economies and in the developing world. It stimulates advances in technology, such as those that will be needed to continue decoupling consumption and production from their environmental impacts. Sustained growth can spur development in several ways: Lifts per capita incomes and raises people out of extreme poverty. Increased per capita GDP/GNI gives households and businesses greater financial resources to save and creates new jobs providing a flow of incomes for people in work. Some of the possible ways to balance economic growth and environmental protection in India are: Adopting clean and renewable energy sources. Implementing environmental accounting and valuation and enhancing environmental compliance and regulation. The environment provides major raw materials for industries. Economy processes raw material to make finished goods. The environment provides industries with all the natural resources. The economy invests in developing technology to optimize the use of natural resources. Protecting the environment is more important than the economic growth of developing countries because the economic growth of industrial nations has negatively impacted the environment to the point where the quality of life has been declining globally, both ecologically and in terms of health.
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