INTEGRATING DIGITAL ECONOMY AND GREEN ECONOMY BY – STUTI PANDEY

INTEGRATION CREATES OPPORTUNITIES FOR SUSTAINABLE DEVELOPMENT 

From last year, the environmental policy agenda has been consistent and mainly concerned for the Digital Economy and green economy.

Digital economy refers to all economic transactions which occur by the means of internet and connectivity of web across the world wide which represents extensive use of Information and Communication Technology in different aspects for transactions between the individuals in business or among themselves or in organizations it includes technology products like mobiles, machines, camera, and other devices.

The internet is known as the backbone of the digital economy. The green economy refers to an economy that has an objective in reducing scarcities and other environmental issues and believes in optimum utilization notion of resources which aims for sustainable development.

The unification between the Digital Economy and the green economy conducts in creating opportunities for sustainable development.

The basic idea of sustainable development talks about fulfilling needs by using the resources today and saving it for future use for our next generation.

So, they don’t have to compromise with their needs and can avail of the resources too.

It is done so with the goal of the welfare of the people providing them with the satisfaction of their needs, security and providing them with alternative choices in the future.

This can be done by making policies and strategies to have balanced growth and development.

This is important to achieve for everybody to have a standard living by generating and distributing wealth.

IMPACTS OF DIGITALISATION ON GREEN ECONOMY 

In every stage, the Digital Economy has an impact on the green economy.

The green economy three pillars of sustainable development i.e economy, society, the environment has positive and negative impacts by the influence of new technologies in the environment.

Sustainable development is possible with global interactions, internet connectivity worldwide, and Information And Communication Technology.

Therefore, digitalization is necessary and now these facilities are everywhere in our society which has completely changed the lifestyle of the means of living from transportation to shopping and from communication to entertainment.

ICT helped in the fields of education and development of infrastructure and markets of the economy. It also helped in dealing with economic crises ‘OCED’ 2009 the multiple crises of food, fuel, finance.

ICT is also a threat to sustainable development the challenges faced by the economy in sustainable development include economic challenges i.e increase in competition among the different sectors, increase in production, heavy investment, loss in work due to capital intensive (unemployment).

Includes social challenges i.e poverty, difficulty in adopting advanced health facilities and equipment, increasing population, high tech learning equipment, and other educational devices.

It also includes environmental challenges i.e managing waste and natural resources, controlling pollution, climatic change, transformation in production, and consumption. 

GREEN OPPORTUNITIES IN THE DIGITAL ECONOMY

It talks about opportunities for integration between the Digital Economy and green economy the `policies and strategies have been accepted by all the developed countries but the green economy as a solution for economic recovery’ is in the debate.

And now in past few years the environment, society, and economy have been taken into consideration  in viewpoint for sustainable development which was earlier not counted and from past 5-10 years with the help of three principles ICT can support the development of the green economy by:

•    `Decreasing direct effects’ of production, distribution, operation, and problems of e-waste and recycling in the commercial (industrial sectors) and implementing regulatory actions.

The emissions of greenhouse gas (GHGs) in the production of goods and services generate carbon dioxide which pollutes and leads to deterioration of the environment.

•    `Increasing the enabling effects’ by increasing the energy efficiency GHGs emissions can be reduced or controlled through improved efficiency of production, distribution, consumption of goods, and services.

There are many other ways also in which ICT helps in green growth by measuring natural built systems such as sensor network systems these networking technologies have a vital role in management also the ICT provides people globally information and knowledge for resources.

For example, saving energy by reducing the wastage of water electrical supply; explains the significant role of three R’s Reduce, reuse, recycle and in other policies which contribute in sustainable development.

Also the dematerialization concept by digitalization has supported in the growth of the green economy as the physical form is converted into e- form it covers areas like e-education, e-shopping, dealing with stock markets and shares even in electronic form.

•    “ Systemic effects” Opportunities by the combination or integration between the digital economy and green economy plays a significant role in obtaining goals of sustainable development enabling the transformation of pillars and supporting fundamental changes in attitude and behavior of individuals.

For a longer period systemic efforts ensure the digital economy for helping in the transformation of a green economy.

The relationship between ICTs and sustainable development having issues with excessive internet consumption results in higher energy and issues related to unintended consequences i.e human impact when dematerialization enabled by the internet.

The ICT industry in partnership with other sectors had a key role in making visible society impact and tries to reduce them to some extent. 

The ICT role is monitoring, standardizing, and accountability all the transformation is based on this data.

CONCLUSION 

The integration of the digital economy and the green economy is a vast combination which can help in pathing for sustainable development and ensuring ICT used in more sustainable behavior patterns by business and citizens.

The concept helps in eradicating poverty therefore the least developed and developing countries should follow the agenda to move one step forward for development.

This whole Digital green economy helped in last few crises especially in world economic crises and the Great Depression period slowly but the economy has recovered and even in climatic changes fluctuation in prices of fuel, the problems had only one solution which has been seen by the experts and it also says the digital economy and green economy will help in the long run for future growth i.e sustainable development.

The speed of the digital green economy may differ from country to country but for the benefit all must follow this concept which helps in creating opportunities for sustainable development fulfills one of the economic agendas.