Green Economy Attains Highest Growth with Sustainable Practices

By Shubhendra Anand , 13 January, 2025

The green economy is an important milestone in the era of rapid climatic changes. Green economy stands for sustainable and ecological development. It focuses on factors like fewer carbon footprints, reduced rate of pollution, and increasing sustainable development. A survey in 2024 shows that the green economy is sustaining with 198 percent progress within ten years.

Based on the survey's data, green companies are driving the growth of the green economy in 2024. Green companies are strategically integrating sustainable solutions to gain a return of 198 percent within a decade. The remarkable increase in the green economy implies that businesses should consider sustainability. Further, it can be integrated into the modern market with several sustainable approaches to enhance clean energy transition in 2024. The green economy consists of companies focusing on manufacturing renewables, sustainability, and other green technologies. Survey reports that the green economy will rise in the financial sector, following the technology sector in 2024. The annual market green economy is projected to be USD 7.2 trillion in 2024. Hence, it shows the stronghold of the green economy toward economic growth.

Experts mention that energy efficiency companies are driving the progress of the green economy. However, renewables have failed to contribute significantly to the green economy. With the increasing growth in clean energy transition, the renewables sector will likely progress by 2050. Researchers claim that the green economy's trajectory symbolizes increasing demand for sustainable practices in the businesses and manufacturing sectors. Further, the green economy is not limited to any single industry. Big techs aim to attain a green economy by 2050. Hence, this will help to set up green tech in the technology sector. However, the electric vehicles industry may face challenges due to taxes imposed on electric vehicles in the United States and the European Union. Electric vehicles are an important factor in the green energy transition. Therefore, its manufacturing may be affected by specific taxation challenges of 2024.

 Green tech helps in the growth of green technology in different economies: