Green Growth | Course Paper

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Table of Contents

ABSTRACT……………………………………………………………………………………………………………..

……. 3

INTRODUCTION…………………………………………………………………………………………………….

……. 4

MAIN

CONTENT………………………………………………………………………………………………………….. 5

1, Theoretical

background:……………………………………………………………………………………………. 5

1.1What is growth?…………………………………………………………………………………………………..

1.2. What is green growth ?………………………………………………………………………………………..

2. Singapore – a green growth

case…………………………………………………………………………………. 9

2.1 General growth situation………………………………………………………………………………………

2.2 Green growth policies in Singapore :…………………………………………………………………….

3. The experiences for

Vietnam……………………………………………………………………………………. 18

3.1 General Growth situation in Vietnam…………………………………………………………………..

3.2. The necessity of green growth for Vietnam:…………………………………………………………

3.3. The ability to implement green growth model in Vietnam………………………………………

3.4. The experience of Singapore green growth for Vietnam…………………………………………

CONCLUSION…………………………………………………………………………………………………………

…. 25

ABREVIATION………………………………………………………………………………………………………..

…. 26

REFERENCES…………………………………………………………………………………………………………

….. 27

ABSTRACT

Green Growth is about making Growth processes resources – efficient, clearer and more

resilient without necessarily slowing them (Stéphane Hallgate, From Growth to Green

Growth –A framework, Working paper 17841, NATIONAL BUREAU OF ECONOMIC

RESEARCH, February 2012).Our paper intends to clarify these concepts through the

research on: “Green Growth in Singapore – Experiences for Vietnam”

In this paper, we will divided our topic into three parts :

In the first part – Theoretical background ,we will point out some specific terms such as

growth,economic growth,green growth and the roles of green growth in our economy. The

second part is the practical case of Singapore in applying green growth to its economy

through some policies.Finally,the experiences for Vietnam from the sucess of Singapore in

applying green growth will end our topic

From the overall content of our topic,we can imply that green growth policies must be

developed to ensure maximized benefits and minimized costs to the poor and most

vulnerable. Furthermore, policies and actions with irreversible negative impacts must be

avoided. Basing on the facts of Vietnam in recent years, we would like to send some

messages for the development of Vietnam : (1) Greening growth is necessary, efficient, and

affordable;(2) Obstacles to greening growth are political and behavioral inertia, and a lack

of financing instruments;( 3) Green growth should look at what needs to be done in the

long run;( 4) The way forward requires a blend of economics, political science, and social

psychology

We would like to send the deepest thank to our teacher- who guided us to complete this

assignment. Moreover, we also would like to thank all our members and highly appreciate

our efforts. However, no matter how hard we tried to complete our tasks, there remain

some inevitable mistakes and deficiencies that we hope will receive your sympathy and

correction.

INTRODUCTION

Over recent years, the concept of Green Growth has become a more popular topic than

ever. This term had rarely heard before 2008 – the year of global financial crisis.

Many countries in the world have inserted the concepts of Green Growth into their

economic development policies. One of the most successful countries in doing that is

Singapore, which is often called Green country. In Singapore, the Government has carried

out the program of developing their economy associated to sustainable development in a

way that is efficient, clean and green.

This way, we ensure that Singapore can enjoy both economic growth and a good living

environment for themselves, and for future generations

Green Growth model conversion will bring long-term effects for the economy (OECD,

United Nations and Asian Development Bank publication,Green Growth, Resources and

Resilience Environmental Sustainability in Asia and the Pacific, 2012)such as: the

direction of economic restructuring in the direction of friendly environment, along with

activities to limit polluting industries, the ecosystem-based regional economic structure,

development of environmental goods and services, the development of clean energy…;

otherwise, promote the transfer of environmental technology, invest in some spearhead

Green economic sectors such as organic agriculture, eco-tourism, industrial recycling,

bio-energy, natural regeneration…

In Viet Nam, Green Growth is believed to be the optimal scheme for sustainable

development and poverty reduction in Vietnam ( Professor Nguyen Quang Thuan and

Dr. Nguyen Xuan Trung, “Green Growth” in the revolution of growth model and

restructuring of Vietnam economy in the near future, 2011). However, Vietnam has been

on the way on finding the most suitable method for Green Growth. It is necessary to do

more researches, learn from other countries to have the appropriate route. To develop

green economic model, there should be specific solutions and the need to refer to the

experience of other countries in the world to operate in Vietnam. From the success of

Singapore in Green Growth, this paper will suggest some experience for Viet Nam. “The

rewards of greening the world’s economies are tangible and considerable, the means are

at hand for both governments and the private sector, and the time to engage the

challenge is now.”(UNEP, Towards a Green Economy: Pathways to Sustainable

Development and Poverty Eradication)

MAIN CONTENT

1, Theoretical background:

To discover the success of Green Growth in Singapore, we will firstly clear some terms

and definitions involved in Green Growth.

1.1What is growth?

Growth refers to an increase in some quantity over time. Growth is a stage in the process

of growing or full growth. It is an anticipated progressive growth especially in capital

value and income. It is a projection. It is a progression of something from a simpler form

to more complex form (Wikipedia, the free encyclopedia)

Similarly, economic growth is a positive change in the level of production of goods and

services by a country over a certain period. Economic growth is usually brought about by

technological innovation and positive external forces.

Nevertheless, economic growth is quite difference from Economic development.

Economic growth is a narrower concept than economic development. Economic growth is

associated with the well-being of a nation, through increasing incomes. However, the

welfare of a nation is not included in economic growth. Economic growth focuses on the

quality. Economic growth therefore is usually involved in negative externalities such as

Environmental damage, an inequality in the distribution of income.

Economic growth also causes environmental degradation. Many argue that the needed

efforts would be too costly; that they would slow growth and destroy jobs; that poor

countries can’t afford them ( Howard Kunreuther and Erward Micheal – Kerjan, Impact

of behavior issues on Green Growth policies and weather – related disaster reduction in

developing countries, 2012)

Environmental degradation itself is costly: more than 3% in Syria, Lebanon, Algeria,

Morocco during the various years, 8% of GDP in Iran in 2002 (Croitoru and Sarraf,

2010). Further, much of environmental destruction is driven by market failures and

inefficient policies. Correcting them can therefore result in a more efficient and productive

economy, with increased output and prosperity. It may be possible to have green growth

without too much of a cost, and possibly with some significant benefits. Reconciling the

three pillars of sustainable development does require policy efforts, particularly for the

environmental one. Green growth policies are a critical part of such efforts and an essential

part of implementing sustainable development

1.2. What is green growth ?

The concept of green growth has its origins in the Asia and Pacific Region. At the Fifth

Ministerial Conference on Environment and Development (MCED) held in March 2005 in

Seoul, 52 Governments and other stakeholders from Asia and the Pacific agreed to move

beyond the sustainable development rhetoric and pursue a path of “green growth”

1.2.1. As general term:

It is popular to use of the term “green growth” but there is no universally agreed definition

of it. There is a broad consensus about what it means.

In general term, Green growth often defined as a term to describe a path of economic

growth which uses natural resources in a sustainable manner. It is used globally to provide

an alternative concept to standard economic growth

Besides, there are some definitions for green growth, which were identified in recent

publications.

• UNESCAP: growth that emphasizes environmentally sustainable economic progress to

foster low-carbon, socially inclusive development.

• OECD: fostering economic growth and development, while ensuring that natural assets

continue to provide the resources and environmental services on which our well-being

relies.

• World Bank: growth that is efficient in its use of natural resources, clean in that it

minimizes pollution and environmental impacts, and resilient in that it accounts for natural

hazards and the role of environmental management and natural capital in preventing

physical disasters.

• GGGI: green growth is the new revolutionary development paradigm that sustains

economic growth while at the same time ensuring climatic and environmental

sustainability. It focuses on addressing the root causes of these challenges while ensuring

the creation of the necessary channels for resource distribution and access to basic

commodities for the impoverished.

For some other development agencies, green growth is, in general terms, economic

progress that foster environmentally sustainable, low-carbon and socially inclusive

development”, while for the Asian Development Bank, “low-carbon green growth is a

pattern of development that decouples economic growth from carbon emissions, pollution

and resource use, and promotes growth through the creation of new environment friendly

products, industries and business models that also improve people’s quality of life”.

1.2.2:As a policy strategy

The term green growth has also been used to describe national or international strategies.

The strategy defines green growth as “an emerging concept that recognizes that