Application of Economic Tools in Environment and Law: A Step Towards Sustainable Development and Green Economy in India

The phrase "green economy" has gained popularity worldwide, with every nation presentlyemphasizing environmental concerns, embracing the green economy as their main economicmodel, and pursuing sustainable development

Countries have been attempting to address the dreadful environmental circumstances in recent years by transforming the traditional type of national economy to Green Economy in order to ensure sustainable development. (Singh, 2011-2013) A sustainable model, as enunciated by UNEP, significantly reduces planetary risks and resource scarceness while enhancing social justice and individual satisfaction. (Fedrigo-Fazio & Ten Brink, 2012) The global green economy concept gained traction following the 2008 Global Financial Crisis, with the goal of lowering hazards associated with ecological decline and carbon addiction while still meeting the Millennium Development Goals (MDGs) of 2000.

Recommended Citation

Advocate Ambika Gupta (2025) "Application of Economic Tools in Environment and Law: A Step Towards Sustainable Development and Green Economy in India ", GNLU Journal of Law And Economics : Volume VII 2024, Issue II
Available at: https://gnlu.ac.in/GJLE/Publications/Application of Economic Tools in Environment and Law: A Step Towards Sustainable Development and Green Economy in India