Green Economics: It’s Impact on Environment and Biodiversity

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Environmental economics is a multi-disciplinary area of academic studies that focuses on the interface between developmental economics and natural ecosystems. Ecology and economics have originated from the same etymology. Environmental economics generally deals with the conservation of natural resources and its effective use in attaining sustainable development. Hence the issues related to the environment are inextricably interwoven to economic issues. Green economics has assumed greater importance in recent times. Greening the globe assumes more importance than the growth of the economy. The concerns of the corporate world on environment has achieved greater attention in the period of rapid population growth, lavish consumerism, urbanization, industrialization and advances in technology coupled with exploitation of resources. Unending consumption will not give unending satisfaction or happiness. The challenge before man is to secure happiness without increasing the level of exploitation, the scale of production and the rate of consumption.