Not only have we transgressed six of the nine planetary boundaries, but we are at high risk with another two of them. Large uncertainty exists on the implications of transgressing the planetary boundaries, but it is believed to have a detrimental affect or even catastrophic outcome for large parts of the world. It remains uncertain whether the collapse will occur gradually or if the system will reach a tipping point, leading to sudden and irreversible catastrophic outcomes. Regardless of the trajectory, it is evident that the impact on human well-being will be profoundly negative. 3.2 Green Growth versus De-Growth To ensure that the ecosystem returns to a balanced state, several economic strategies or policy frameworks exist to integrate environmental sustainability with economic decisionmaking (Rifkin (2019); OECD (2011); United Nations Environment Programme (2011); Jackson (2009); Latouche (2009); Daly (1991)). In Figure 3.2, a few of these policies are depicted on a scale of the desired economic growth. In the rest of this section a comparison of the combined green growth strategies (CGG) with de-growth will be discussed. For clarity in the discussion, both terms are defined: De-growth refers to a deliberate reduction in economic activity to achieve sustainability, while CGG focuses on fostering economic growth by decoupling it from environmental degradation and promoting investment in the green economy. Figure 3.2: Economic strategies or policy frameworks that exist to integrate environmental sustainability with economic decision-making on a one dimensional scale from a low to high economic growth spectrum (Source: Created by the author) Since its adoption in the 20th century, the Gross Domestic Product (GDP) has been the dominant measure of economic output, capturing the total monetary value of goods and services produced within a country over a specific period. Originally intended as a wartime measure, GDP’s popularity among economists grew as it provided a clear, singular metric for economic health. As van den Bergh (2009) explains, GDP emerged as a ”symbol of progress” in the post-war era, with increases in GDP often equated to enhancements in societal well-being. However, as Costanza et al. (2009) argues, this heavy reliance on GDP has overshadowed critical dimensions of development, including social and environmental factors, thereby presenting an incomplete picture of true progress. We are not separate from the planet; we are intrinsically a part of it. As the planet deteriorates, so too does our own condition. we are at high risk with another four of them. Large uncertainty exists on the implications of transgressing the planetary boundaries, but it is believed to have a detrimental affect or even catastrophic outcome for large parts of the world. It remains uncertain whether the collapse will occur gradually or if the system will reach a tipping point, leading to sudden and irreversible catastrophic outcomes. Regardless of the trajectory, it is evident that the impact on human well-being will be profoundly negative. We are not separate from the planet; we are intrinsically a part of it. As the planet deteriorates, so too does our own condition. 3.2 Green Growth versus De-Growth To ensure that the ecosystem returns to a balanced state, several economic strategies or policy frameworks exist to integrate environmental sustainability with economic decision-making (Rifkin (2019); OECD (2011); United Nations Environment Programme (2011); Jackson (2009); Latouche (2009); Daly (1991)). In Figure 3.2, a few of these policies are depicted on a scale of the desired economic growth. In the rest of this section a comparison of the combined green growth strategies (CGG) with de-growth will be discussed. For clarity in the discussion, both terms are defined: De-growth refers to a deliberate reduction in economic activity to achieve sustainability, while CGG focuses on fostering economic growth by decoupling it from environmental degradation and promoting investment in the green economy. Figure 3.2: Economic strategies or policy frameworks that exist to integrate environmental sustainability with economic decision-making on a one dimensional scale from a low to high economic growth spectrum (Source: Created by the author) 12 3.2. Green Growth versus De-Growth
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