A World Bank report on “Inclusive Green Growth: The Pathway to Sustainable Development” provides evidence that green growth is not only necessary but affordable.
It suggests instruments to overcome economic, market, policy and institutional constraints, through a three-prong strategy.
The goal of the strategy is "growing cleaner without growing slower."
May 2012: The World Bank has released a report presenting its findings on the necessary components for a comprehensive green growth strategy worldwide. The report, titled “Inclusive Green Growth: The Pathway to Sustainable Development,” provides evidence supporting the urgent need for inclusive green growth, a type of green growth that requires overcoming economic, market, policy and institutional constraints.
The report initially focuses on an analytical framework for inclusive green growth as a means to establish the tradeoffs and risks involved in delaying such green growth action. The following section analyzes market and non-market mechanisms to create green growth incentives. With such incentives in place, the next step is to collect data on the potential human, natural and physical capital available to achieve green growth goals. The report culminates in an analysis of how to overcome obstacles and uncertainties to create a comprehensive green growth strategy.
Overall, the World Bank advocates a three-pronged strategy: tailoring national green growth strategies to a country’s specific circumstances; promoting private sector decision-making based on the principles of sustainability; and providing up-front capital needs with innovative financing mechanisms. [World Bank Press Release] [World Bank Website] [Publication: Inclusive Green Growth: The Pathway to Sustainable Development]