Transitioning to a Green Economy—Possible Effects on the Croatian Economy
2. Literature Review
3. Materials and Methods
- Economic indicators
- Total number of employed people
- Gross investments
- Environmental indicators
- Wastewater emissions in thousands of m2
- tons of SO2 per year
- tons of CO per year
- tons of NOx per year
- GDP by 0.77%
- Number of employed by 0.17%
- Sulphur emissions by 2.1%
- CO emissions by 0.68%
- NOx emissions by 0.58%
- 60% of the expected 12.7 billion euro from the MFF will be spent on projects related to green economy. That amounts to 7.62 billion euro available for Croatia for green jobs. According to the EU, these funds are expected to be used for digital transformation, sustainable development, circular economy and projects related to a green economy.
- Out of the 60%, Croatia will only draw a part of the funds. Previous experience has shown that Croatia only drew around 40%. This projection predicts a pessimistic scenario, in which Croatia draws 50%, and an optimistic scenario, with 80%.
- The GDP, investments and employment projections are based on the annual growth rates achieved from 1996 to 2018.
- Formula 2 was used to calculate the projection regarding the impact of green economy project investments on the GDP and employment.
5. Discussion and Conclusions
Conflicts of Interest
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|Organization||Understanding Green Economy|
|UNEP, 2011||One that results in improved human well-being and social equity, while significantly reducing environmental risks and ecological scarcities. It is low carbon, resource efficient, and socially inclusive. In a green economy, growth in income and employment should be driven by public and private investments that reduce carbon emissions and pollution, enhance energy and resource efficiency, and prevent the loss of biodiversity and ecosystem services.|
|UNEP, 2009||A system of economic activities related to the production, distribution and consumption of goods and services that result in improved human well-being over the long term, while not exposing future generations to significant environmental risks or ecological scarcities.|
|UNCTAD, 2011||An economy that results in improved human well-being and reduced inequalities, while not exposing future generations to significant environmental risks and ecological scarcities. It seeks to bring long-term societal benefits to short-term activities aimed at mitigating environmental risks. A green economy is an enabling component of the overarching goal of sustainable development.|
|Green Economy Coalition, 2011||Green economy is a resilient economy that provides a better quality of life for all within the ecological limits of the planet.|
|International Chamber of Commerce, 2011||Green Economy is described as an economy in which economic growth and environmental responsibility work together in a mutually reinforcing fashion while supporting progress on social development.|
|Danish 92 Group, 2011||The Green Economy is not a state but a process of transformation and a constant dynamic progression. The Green Economy does away with the systemic distortions and dysfunctionalities of the current mainstream economy and results in human well-being and equitable access to opportunity for all people, while safeguarding environmental and economic integrity in order to remain within the planet’s finite carrying capacity. The Economy cannot be Green without being Equitable.|
|Government of South Africa, 2011||The green economy involves largely new economic activities and must provide an important entry-point for broad-based black economic empowerment, addressing the needs of women and youth entrepreneurs and offering opportunities for enterprises in the social economy.|
|Rio 20+, Objectives and themes of the Conference, UNCSU, 2011||Green economy can be seen as a lens for focusing on and seizing opportunities to advance economic and environmental goals simultaneously.|
|EEA, 2014||A green economy is one that generates increasing prosperity while maintaining the natural systems that sustain us.|
|Diyar, 2014||The economy where the growth of the people’s welfare and employment increase are provided owing to the state and social investments ensuring reduction of emissions and environmental pollution and stimulating effective use of energy and resources as well as preventing from any harm to biodiversity and ecosystem.|
|Organization||Select Definitions of Green Growth|
|OECD, 2011.||“aims to foster economic growth and development, while ensuring that natural assets are used sustainably, and continue to provide the resources and environmental services on which our well-being relies…”|
|World Bank, 2012.||“…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…”|
|UNESCAP, 2012.||“…environmentally sustainable economic progress to foster low-emission, socially inclusive development…”|
|Global Green Growth|
Institute (GGGI), 2012.
|“…new revolutionary development paradigm that sustains economic growth while at the same time ensuring climatic and environmental sustainability…”|
|European Commission, 2016.||“The aim is to create more value while using fewer resources, and substituting them with more environmentally favorable choices wherever possible”|
|Stats||Total Number of Employed|
(Thousands of Cubic Meters)
|JB test (p)||0.7605||0.2641||0.5317||0.5153||0.4086||0.6811||0.4702|
|PP test (p)||0.6559||0.6747||0.3755||0.8135||0.8419||0.7009||0.8697|
|Category||Pessimistic Impact Projection (50% Resources)||Optimistic Impact Projection (80% Resources)|
|BDP increase for 2021–2027||4.5%||7.1%|
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Denona Bogovic, N.; Grdic, Z.S. Transitioning to a Green Economy—Possible Effects on the Croatian Economy. Sustainability 2020, 12, 9342. https://doi.org/10.3390/su12229342
Denona Bogovic N, Grdic ZS. Transitioning to a Green Economy—Possible Effects on the Croatian Economy. Sustainability. 2020; 12(22):9342. https://doi.org/10.3390/su12229342Chicago/Turabian Style
Denona Bogovic, Nada, and Zvonimira Sverko Grdic. 2020. "Transitioning to a Green Economy—Possible Effects on the Croatian Economy" Sustainability 12, no. 22: 9342. https://doi.org/10.3390/su12229342