The EU’s development policy promotes the transformation towards an inclusive green economy that generates growth, creates jobs and helps reduce poverty through sustainable management of natural capital. Addressing this challenge requires a broad set of interventions that go beyond government action to involve the private sector.
The European Commission is committed to support developing countries in their efforts to transformation towards an inclusive green economy.
A green economy offers a pathway to generate economic growth that is inclusive and environmentally sustainable. To move in this direction, governments need to put in place policies and create the enabling conditions that ‘correct’ markets and governance imperfections and failures, and provide suitable economic incentives to the economic actors (producers, consumers) to pursue a green, clean, low-carbon economy path.
As the transformation towards a green economy will change the patterns of jobs in some sectors, the re-skilling of the existing workforce will be needed to foster the creation of decent and green jobs. Equally important is to support local private sector development by providing eco-entrepreneurship skills which will teach people how to start their own green business and thus increase opportunities to improve their standard of living. Practical examples will help convince all stakeholders that sustainable use of natural capital and ecosystems offers viable business solutions.