ASPECTS OF GREEN ECONOMIC GROWTH

Green economic growth is an ambitious concept. It implies nothing less than decoupling climate change and other environmental pressures from economic growth, that the economy can benefit from environmental protection; and that numerous synergies can be found between mitigating climate change, protecting the environment and growing the economy. However, there is no firm evidence to substantiate that this is possible. The counterarguments relate to the laws of use of materials and energy, also that a neoliberal model of the economy hardly being able to support the environment. Furthermore, empirical evidence reveals increasing levels of material and energy consumption. Moreover, also the research scientists have not yet found a clear answer as to whether economic growth and climate change mitigation can be aligned. The results of the applied econometric model for the Eurozone countries suggests that green transition is on the right track, although the challenges remain. A pandemic associated with the coronavirus disease outbreak has accelerated the spiritual dimension of green economic transition, the importance of Pope Francis Encyclical Laudato Si, of ecological conversion.