TRANSITION FROM A CONVENTIONAL ECONOMY TO A GREEN ECONOMY

A green economy refers to a socially inclusive, resource efficient economy where private and public investment determines the employment growth, infrastructure and assets reduced carbon emissions, enhanced energy and conserve the eco system. It does not replace the concept of sustainability but it focuses on the macro-economic variable along with positive environmental outcomes. The transition from a conventional economy to a green economy stands as a pressing imperative in the face of escalating environmental challenges. This research paper delves into the multifaceted landscape of this transition, exploring its challenges, strategies, and far-reaching implications. Drawing from a comprehensive literature review and a variety of case studies, this study provides valuable insights into the complex journey toward sustainability. It examines the environmental, socioeconomic, and political challenges associated with this shift, offering a critical examination of the strategies needed for its successful realization. It provides a comprehensive examination of the transition from a conventional economy to a green economy by exploring the challenges, strategies, and far-reaching implications of this transition, emphasizing the need for a paradigm shift in economic thinking and practice. Through the lens of various case studies, the paper illustrates the diverse approaches adopted by different regions and nations, shedding light on both successes and challenges. Furthermore, it evaluates the economic, social, and environmental implications of transitioning to a green economy, emphasizing the importance of holistic and sustainable development. In conclusion, this research contributes to a deeper understanding of the green economic transition, offering policy recommendations and avenues for further exploration, underlining the urgency of collective action in achieving a sustainable and equitable future.