In recent years, the concept of a green economy has been seen as the future of the world. This is due to the challenges humanity is facing and will continue to face if no change comes. Humanity is experiencing climate change, biodiversity loss, ongoing inequality within African countries and more. These issues affect not only the climate but also the development of countries. To combat these issues and have a solution that can improve the challenges humanity faces, a green economy needs to move away from being a pipeline dream and finally become a reality.
This article will explore what needs to be done to ensure a green economy is underway, and how we can benefit from a green economy.
Decrease pollution
An embedded generation renewable energy project has major benefits, one being that it can help decrease pollution. While pollution is something that has been a cause of concern for years, people don’t understand the severity of it. This may be because some societies haven’t witnessed first-hand the negative effects of pollution. But, those effects are there; for example, according to this article, pollution can kill animals, plants and cause health implications for humans such as; chronic respiratory disease, lung cancer and other diseases that are detrimental to one's health. A greener economy can potentially help improve the quality of our water, soil, air and environment, which play a role in human life and are a crucial part of many sectors that contribute to a growing economy.
More job opportunities
Despite visible economic growth in Africa, it is still one of the most underdeveloped countries in the world and still struggles with high unemployment rates. What makes matters worse is the majority of the population in Africa are young people who, if given a chance, can contribute positively to the economy. A green economy can benefit the youth in South Africa because it creates jobs. With a green economy, there can be more innovative business ideas and a discovery of a new market that will need a skilled workforce. This opportunity allows more people the chance to start their own businesses and hire people, and also the opportunity to find jobs. More jobs and businesses mean societal stability, which can positively impact the economy.
Takes care of the environment
Apart from fighting pollution, moving to a greener economy can help take care of the environment. While the damage isn’t reversible, we can stop or slow any additional harm. This can tackle global warming, loss of biodiversity, deforestation, and desertification. This means that we can still use natural resources in the future and that future generations have a chance to live in a sustainable and habitable environment. This also means that animals will be able to live, and future generations have the chance to see well-known animals that originate from Africa, and animals that make Africa what it is today.
What is DBSA’s role in a greener economy?
Infrastructure development and sustainability are two things that matter to us. We believe that without sustainable development, we won’t get Africa to where it needs to be, nor will we help people residing here. Investing in sustainable infrastructure is an effective way to address Africa's biggest issues: infrastructure gaps, climate change, decaying ecological infrastructure, and the social challenges that threaten the future of human health and well-being. Through investments from the public and private sector, we can work towards achieving a green economy. We collaborate with civil society, governments, and more to support the common goal of creating integrated growth strategies, which are sustainable and promote equitable well-being through funding energy generation. To do this, we ensure that all transitions go towards creating a renewed and inclusive economy. One that embodies resilience, regeneration, transcends current trajectories and improves the quality of life for people.
Final thoughts
Natural resources play a huge role, and so does a well-kept environment. Without these, we can experience health complications, job loss and a weak economy. None of these things benefit anyone. This is why it is vital that we, as a development finance institution, work together to create a better Africa for all. Creating a green economy isn’t difficult, but it may be challenging. A green economy has been in the pipeline for too long and needs to start becoming a reality.
