Page 17 - Environmental_Green Technologies

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2.3 The OECD Green Growth Strategy

The OECD has developed the Green Growth Strategy in order to provide a framework with green growth
tools, and indicators for a sustainable economic growth through a sustainable energy, natural resources
and valuation of ecosystem services. It is a policy to encourage the shift to a greener path.

The OECD, by stimulating an eco-innovation and addressing the transition to a greener economy (invest-
ment, taxation, jobs, trade and development) aims for a low-carbon economy compatible with growth
(OECD, 2011).

The following points are recommendations part of the Green Growth Strategy, for governments for identi-
fying policies in order to achieve the most efficient way for the shift to a greener growth:

• Green jobs and social aspects.

• Green taxes and regulatory approaches.

• Industrial restructuring and renewal.

• Fiscal consolidation.

• Green technologies.

• Peer reviews.

• Co-operation between OECD countries and emerging economies.

• Involvement of stakeholders.

Green Growth policies can be considered structural reforms tailored to the specific country circumstances
(OECD, 2019). Among their aims we find:

• Enhance productivity by incentivating the creation of opportunities for innovation and value creation,
spur the use of natural resources in an efficient manner and allocate resources.

• Contribution to fiscal consolidation by the establishment of green taxes and elimination of environmen-
tally harmful subsidies.

• Open up new markets throughout the consumption and demand stimulation for green goods, technolo-
gies and services.

• Reduce risks of negative shocks to growth.