A green economy contributes to societal progress and human well-being. Redirecting investments towards goods and services meets the basic needs of society, such as access to clean energy, safe water, healthy choices, employment opportunities etc., strengthening human and social capital.
In developing a green economy, it is important to ensure that policies and progressive strategies assess the viability of the proposed mechanisms to ensure a wide variety of stakeholders and actors (including SMEs, the local community etc.), can access them. A fair distribution of the benefits of the transition to the green economy is important. Establishment of measures to mainstream the green economy, such green economy forums, communication strategies, and transparency in green accounting, are opportunities to ensure integrated progress.
Sectors where the greening of the economy can bring substantial progress towards society, improving and influencing well-being may specifically focus on:
Education and training – Supporting the focused development of skills and experience to drive forward the economy sustainably.
National food security and agriculture – Developing new mechanisms to innovate in food production, distribution and minimizing wastage
Addressing gaps in healthcare models – Encouraging a development and innovation of new services and goods to support human health and prevent human health decline
Communication services – Networking individuals and services/products and new opportunities for lifestyle choices. Encouraging innovations, widening connectivity and social reach, improving interactions throughout society and engaging society with each other either through technology or through community-based enterprises
Welfare support – Address equality and opportunities, specifically in this context, to enable the pursuit of education and employment. For example, facilitating the growth and regulation of childcare and care for elderly or infirmed services/facilities.
The 11th Malaysia Plan (2016-2020) represents Malaysia’s keen interest in stepping up its pledge to the environment and long-term sustainability, specifically stipulating green growth as a key driver in development. The government is showing its engagement to green growth by stating that it will provide relevant policy and institutional framework for green growth.
The commitment by the government alone would not be sufficient, so the plan looks to focus on the enabling environment for green growth by involving a long-term commitment from all stakeholders, business, and civil society. There are three strategies in the 11th MP that will be set in motion to establish the enabling environment for green growth:
- Strengthening governance to drive transformation by enhancing regulatory and institutional framework, coordination, capacity as well as monitoring and evaluation mechanisms
- Enhancing awareness to create shared responsibility through comprehensive communication, education and awareness programs and platforms for knowledge sharing
- Establishing sustainable financing mechanisms by expanding existing and identifying new economic instruments