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It is a different concept than Green Growth, which “emphasizes environmentally sustainable economic progress to foster low-carbon, socially inclusive development.”
The green economy is one which seeks to strengthen the environmental and social pillars of sustainability (the other pillar is economic). The question is being asked is whether this is even feasible in an economic system which encourages over-consumption and accumulation.
For the public sector, there are many implications of the move towards green economy policies and programmes.
For more information: PSI on the Green Economy