Economic Growth vs. Environmental Preservation: Must we choose?
Beyond this literal representation of green growth is a concept that has the power to change the direction our future is heading—for the better.
There’s no doubt that the rate of economic growth experienced around the world—namely in NICs (Newly Industrialized Countries) such as China and India—has been enormous in past years. Like my classmate Mandy Xu, I too hear stories from my parents relating their childhoods of the Cultural Revolution to the vastly different and technologically advanced China of today and initially thought that the present growth comprised solely positive progress. However, according to the World Bank’s report on the quality of growth, 16 of the 20 most air-polluted cities are in China. The question “Are we growing too fast?” Mandy prompts us to ask ourselves whilst enjoying the benefits of the economic boom resonates deeply with the inevitable issues that go hand in hand with the “progress” I once saw through a purely favourable lens.
We frequently view economic growth and environmental protection—generally implied through clean air and water, healthy levels of wildlife population and biodiversity—as two, almost opposing ends of the spectrum. Trade-offs are inevitable right? Not at all. In fact, as John Parker of The Economist coins it, “green growth” is key to global development. The common perspective “Get rich first, then clean up” fails to see how environmental degradation actually hinders economic growth. My classmate Katya Sen details how Sempra Energy stationed its power plant in Mexico to avoid stricter American environmental regulations. The lack of restriction resulted in consequences to not only the environment but to locals’ health, highlighting how firms and governments often reject the notion of protection in exchange for profits.
We need to see the environment as a form of natural capital and that when properly invested in and integrated in governmental policies, environmental conservation has in fact huge potential to both accelerate and sustain—not hinder nor limit—economic growth and ultimately our standards of living for generations to come.
Image via: http://islandbountyblog.wordpress.com/category/world-food-crisis/