Capturing the Opportunity of Green Economic Policy for Environmental Sustainability

This research paper focuses on the concept of green economics policy as a means to achieve environmental sustainability. The paper begins by defining green economics policy as an approach that promotes sustainable economic growth while also protecting the environment. It argues that a shift towards a green economy is necessary to address the current environmentalchallenges facing the planet. The paper examines the key elements of a green economics policy,which include promoting renewable energy sources, investing in sustainable infrastructure, supporting sustainable agriculture practices, and incentivizing businesses to adopt environmentally friendly practices. The paper highlights the importance of policy coherence and coordination across different sectors and levels of government to ensure a successful transition to a green economy. The research also discusses the potential benefits of a green economics policy, such as the creation of green jobs, the reduction of greenhouse gas emissions, and improved public health outcomes. The paper emphasizes the importance of engaging stakeholders in the policymaking process, including civil society organizations, businesses, and affected communities, to ensure that the policy is equitable and socially just. The paperconcludes by highlighting the urgent need for governments to adopt green economics policies to address the environmental crisis. It emphasizes the importance of international cooperation tosupport countries in transitioning to a green economy and the need for innovative financing mechanisms to support sustainable development. The paper argues that a green economics policy offers a viable path towards achieving environmental sustainability while also promoting economic growth and social equity.


Introduction
In the last two decades, the impact of environmental damage, global warming and climate change has become increasingly serious and frightening.Moreover, it has a tremendous negative impact on human life.Such as floods, rob, air, water and soil pollution, extreme climate change, extreme weather changes, and others occur everywhere.A number of analysis results show an increase in global warming and climate change caused by the increasingly widespread environmental damage in various countries, including in Indonesia.[1] 1248 (2023) 012035 IOP Publishing doi:10.1088/1755-1315/1248/1/012035 2 Economic development activities in Indonesia are mostly based on natural resources, considering that Indonesia has relatively more natural resources compared to other countries.Call it oil, natural gas, coal, tin, gold, and other natural resources.This is why aspects of environmental protection and preservation are often neglected, giving rise to various environmental problems, such as water and/or air pollution, soil quality damage, forest fires damage, conversion of agricultural law and so on.[2] Such conditions ultimately lead to a further decline in the productivity of natural resources and the environment, thus encouraging the emergence of pockets of poverty in people whose lives depend on these natural resources and the environment.
Various parties have raised accusations that environmental damage is primarily caused by development strategies and policies that neglect environmental considerations.National development strategies and policies tend to prioritize economic interests over environmental and community concerns.[1] Consequently, both the environment and its natural resources, along with the societal economic resources, are excessively exploited by the state and economic actors solely for the purposes of achieving growth and maximizing profits.
While corporate profits and regional economic growth continue to rise (EN), there is a simultaneous increase in social and environmental crisis (EKSL).The resulting social and environmental problems are becoming more intricate and perilous.This occurrence is often referred to as the "paradox of economic growth", stemming from insatiable economic behavior.[3] However, the desirable scenario for state or regional economic growth is when the country's or region's economic advancement (EN) is accompanied by a reduction in social and environmental crisis (EKSL).
Makmun explains that, development aims to improve people's welfare so that development must be based on the concept of sustainable development.In the report of the World Commission on Environment and Development (WCED) in 1987 entitled Our Common Future, sustainable development is defined as development that meets the needs of the present without compromising the ability of future generation to meet their own needs.This means that development is carries out not only for now, but also for future.In its development, with the intensification of sustainable development, the green economy concept has developed, as a concept that supports sustainable development and poverty eradication.However, considering that there is no sustainable development model that is the same for all countries, the green economy concept is understood differently, taking into account the various constraints in each country.[6] Green Economy as well as green growth has become one of the important issues in environmental and economic development around the world, including Indonesia.Green economy is a process of economic development that still pays attention to environmental impact such as carbon levels in the air, efficiency of natural resources, and social impacts.It is known that in a green economy, employment and income growth are driven by public and private investment into a kind of economic activity.In addition to economic activities, the infrastructure and assets acquired must also meet requirements, namely having low carbon emissions and pollution, increasing energy and resources, efficiency, and preventing the loss of biodiversity and natural ecosystems.[4][5] Such investments need support through public spending, policy reforms and changes in tax regulations.The United Nation Environment (UNE) has been promoting developmental steps regarding natural income as a critical economic asset and source of public income, especially for the poor whose livelihoods depend on natural resources.
The idea of a green economy does not necessarily replace sustainable development but creates a new focus for the economy, investment, income and infrastructure, workers and their capabilities, and positive social life from the Asian continent to the Pacific countries.The principles in the Green Economy, including, first Welfare Principles, green economy allows everyone to create and enjoy prosperity.Second, the Principle of Justice, that green economy promotes equality within and between generations.Third, Principle of Planetary Limits, the green economy protects, restores and invests in nature.Forth, Principles of Efficiency and Adequacy, in which that green economy is directed to support sustainable consumption and sustainable production.Fifth, Principles of Good Governance, the green economy is guided by integrated, accountable and resilient institutions.There are also three areas currently being worked on in the green economy, namely: 1. Advocacy related to the macroeconomic approach for resilience of economic growth through the regional, sub-regional and national sectors.2. Demonstrate a green economy approach with a primary focus on access to green finance technology and investment 3. Supporting the state in developing and mainstreaming macroeconomic policies to support the transition towards a green economy.Then for the collaboration carried out by UNE is collaborating with Mongolia for the implementation of the National Green Development Policy, integrating the green economy through development planning at the local level.In addition, it also uses indicators of the Sustainable Development Goals (SGD's) and main sectors in the context of green economy.

Indonesian Green Economic Policy
Indonesia has taken a significant step towards sustainable development by introducing the Indonesian Green Economy Index, which serves as a benchmark for measuring the balance between economic welfare, social equality, and environmental risk mitigation.The Ministry of National Development Planning/National Development Planning Agency (Bappenas) has spearheaded this initiative.The Green Economy Index offers an overview of Indonesia's progress and performance in its transition towards a green economy.
The green economy is one of six strategies outlined by the Ministry of National Development Planning/Bappenas to transform Indonesia's economy.This strategy is crucial in realizing the vision of Indonesia 2045 and is regarded as a game changer for the country's post-pandemic economic recovery from Covid-19, as well as its journey towards sustainable development.The findings and insights provided by Indonesia's Green Economy Index (GEI) report will be integrated into key national development documents such as the National Medium Term Development Plan (RPJMN) 2025-2029 and the National Long Term Development Plan (RPJPN) 2025-2045.[5][6] According to Suharso Monoarfa, a green economy has the main principle of creating high economic growth while at the same time encouraging social welfare and maintaining the quality and carrying capacity of the environment.It stated that it focuses on increasing green investment, sustainable management of assets and infrastructure, and ensuring a fair and affordable transition and empowering human capital.
The Indonesia Green Economy Index calculates Indonesia's score in the economic transformation towards a green economy by looking at a comparison of the progress of the indicators against the minimum value and maximum target, which is to be achieved.The minimum value of the indicator is based on Indonesia's historical data from the lowest reference, while the maximum value is based on targets that have been included in Indonesia's Vision 2045 and targets in the 2045 Low Carbon Development Initiative (LCDI) model to achieve Net Zero Emissions in 2060.The time span for Indonesia's GEI historical data starts 2011 to 2020.[6] There are 15 indicators in Indonesia's GEI, which cover three pillars, namely economic, social and environmental, which reflect green economic development.The economic pillar consists of six indicators, including emission intensity, energy intensity, and gross national income (GNI) per capita.Meanwhile, the social pillar includes four indicators, namely the unemployment rate, poverty rate, life expectancy, and the average length of schooling.While the environmental pillar includes five indicators, namely land cover, degraded peatlands, reduced emissions, managed waste, and new renewable energy.The GEI Indonesia report shows an increasing trend and there is synergy between the pillars.GEI Indonesia aims to maintain the direction of achieving long-term development goals and accelerate the implementation of low-carbon and climate-resilient development programs as the backbone of the transition towards a green economy.The green economy transition is stated to be able to provide a variety of benefits for Indonesia, including, the average gross domestic product (GDP) growth of 6.1-6.5 percent per year until 2050.Then reducing emission intensity by up to 68 percent in 2045, saving greenhouse gas (GHG) emissions of up to 87-96 billion tons during the 2021-2060 range, and adding employment in the environmentally friendly jobs sector (green jobs) for 1.8 million workers work in 2030.
In its development, with the intensification of sustainable development, the green economy concept has developed, as a concept that supports sustainable development and poverty eradication.However, considering that there is no sustainable development model that is the same for all countries, the green economy concept is understood differently, taking into account the various constraints in each country.In simple terms, the notion of a green economy is formulated as an economic activity that does not harm or damage the environment.Meanwhile, the United Nations Environment Program (UNEP) links the notion of a green economy with the meaning of an economy capable of improving social welfare and justice, by providing the notion that: "Greening the economy refers to the process of reconfiguring business and infrastructure to deliver better returns on natural, human and economic capital investments, while at the same time reducing greenhouse gas emissions, extracting and using less natural resources, creating less waste and reducing social disparities" Thus, a green economy is an economic activity that in addition to increasing people's welfare as the ultimate goal of economic activity, is also expected to have an impact on achieving justice, both justice for society and the environment and natural resources themselves.The green economy philosophy is a balance between people's economic welfare and social justice while reducing the risks of environmental and ecological damage.In this case, the essence of the green economy as a model of economic development based on sustainable development.
The World Commission on Environment and Development (WCED) in its report entitled Our Common Future identified several critical issues that need to be used as a basis for formulating environmental policies in the concept of sustainable development, namely: 1. Encouraging growth and improving quality; 2. Get basic needs regarding work, food, energy, water and sanitation; 3. Ensure population growth rates that support sustainability; 4. Perform resource coservation and capability; 5. Technology orientation and managing risk; 6. Integrate considerations of the economic environment into decision-making process Therefore, green economy concept become a paradigm in sustainable development which is important on overcoming the impacts of climate change.Mumbunan stated that the green economy is the answer to the brown economy, namely economic activities that produce a lot of carbon.The brown economy is an economic activity that uses energy in an inefficient (wasteful) manner but is not socially inclusive enough, that is does not involve many people in the decision-making process.In relation to the management and utilization of mining materials and coal minerals, for example, cocoa economic activities are very dominant.Apart form having a negative impact on environmental quality.The emergence of mining cases at Freeport or Newmont shows that they are still very exclusive socially, not realizing social justice.Most of the benefits from mining exploitation are enjoyed by only a small number of people/groups in the form of permits of utilization rights obtained.Even though the negative impact of mining activties is actually borne by the sorrounding community who bear the environmental damage.This is what we want to minimize/avoid through the development of a green economy paradigm.The green economy according to Cato, has the following characteristics: 1. Locally based economy; 2. The market was seen as a pleasant place of socializing and friendship where news and political views were excganged as were goods and money; 3. Involves distribution of assets using enhanced estate and capital gains taxes; 4. Taxes are also used strategically for sustainable development, not to influence power and business behavior; 5. Be guided by the value of sustainability rather than by value for money; 6. Abandon addication to economic growth and lead to a steady-state economy; 7. A welcoming economy where relationships and community substitute for consumption and technology; 8. give a broader role to the informal economy and cooperative and community-based systems that support each other; 9. Health systems focused on developing good health and providing primary care, on a local basis rather than high-tech drugs and sprawling pharmaceutical companies; 10.Replace fossil fuel and intensive farming systems with organic farming and systems such as community supported farming.
As mentioned earlier, the impact of development on environmental damage in the Bangka Belitung Islands Province and as one of the efforts to maintain sustainable development in the Bangka Belitung Island Province, the green economy is an important thing to put forward in development in The Bangka Belitung Island Province can be passed on to future generations and become a positive legacy left by their predecessors.Therefore, there are several approaches that can be used to start implementing green economic development.The formulation of these approaches serves as a first step and at the same time provides a foundation so that the implementation of green economy development can be carried out properly in the near future.

Green Economic Policy for Environmental Sustainability
Grindle argues that policy implementation is determined by the content of the policy and the context of its implementation.The basic idea of the Grindle model is that after the policy has been transformed, the policy needs to be translated into a program of action or activity.Policy implementation does not always run smoothly, but will depend heavily on the implementation context which consists of power, interests, strategy, actors involved, characteristics of authorities and institutions, as well as compliance and responsiveness.[9][10] Referring to Grindle's approach as mentioned above, as a first step in formulating green development, there are at least 3 (three) approaches that can be taken to provide a foundation for implementing a green economy.The 3 (three) approaches include the legal aspect approach which will become the legal umbrella for green economy implementation, the planning document approach which will become the glue and thread for environmental development in the Bangka Belitung Islands Province (as one of example), as well as the institutional approach in which policy synchronization between institutions in the Province becomes one of the success factors in policy implementation, including green economy development policies.[17][18]

FIGURE 1. Green Growth Framework in Indonesia
Source: BAPPENAS [13] a. Legal aspect approach Compliance and responsiveness are one of the important things in the implementation of a policy.Compliance and responsiveness will occur if there are adequate regulatory tools.Therefore, in implementing a green economy within the Provincial Government of the Bangka Belitung Islands, adequate regulatory instruments are needed.[7] In the context of regulations, Law No. 32 of 2009 concerning Environmental Protection and Management (hereinafter as UUPPLH) does not provide an understanding or characteristics of a green economy, but only regulates environmental economics.Article 1 point 33 of the PLH Law emphasizes that environmental economic instruments are a set of economic policies to encourage both the Central and Regional Governments towards preserving environmental functions.Understanding the preservation of environmental functions is of course still not enough to be used as a green economy criterion.Considering that the green economy is not only limited to environmental issues, but also sustainable issues of welfare, health, education and social justice.However, Ida Nurlinda in the Legal Review Journal argues that, in the context of expanding legal 1248 (2023) 012035 IOP Publishing doi:10.1088/1755-1315/1248/1/0120356 interpretation (extensive interpretatie) then the understanding of the issue of preserving environmental functions can also be interpreted, including issues of welfare and issues of social justice.[10] Furthermore, Ida Nurlinda said that the arrangements regarding environmental economic instruments contained in Articles 42 and Article 43 of the PPLH Law explicitly do not yet interpret and provide the characteristics of a green economy.However, if you examine the explanations of Article 42 and Article 43 of the PPLH Law, at the level of implementing regulations the PPLH Law can accommodate the characteristics of a green economy in the principles of environmental economics and in the end, it can be stated in the form of intermediate rules or implementing rules.The internalization of aspects of economic instruments into aspects of environmental protection and management can be accompanied by elements of a green economy, so that the regulation does not only cover aspects of environmental preservation but also aspects of social welfare and justice, as the main characteristics of a green economy.[3] In the regional context, the Provincial Government of the Bangka Belitung Islands already has Regional Regulation (PERDA) Number 8 of 2018 concerning Control of Pollution and Environmental Damage.The said PERDA was drafted as a legal umbrella for the regional government in carrying out environmentally sound and sustainable development based on the 1945 Constitution.Like the PPLH Law, this PERDA also does not specifically regulate green economy, but in general regulates the control of environmental pollution and damage which includes all objects, natural resources, conditions, and living things, including humans and their behavior, which affect nature itself, the continuity of life, and the welfare of humans and other living things.[8][9] Article 5 PERDA requires the Regional Environment Agency to prepare a Strategic Environmental Assessment (KLHS) which is used to ensure development planning is in accordance with the principles of sustainable development.KLHS must be carried out into the preparation or evaluation of: a. Regional spatial layout plans and their detailed plans, Regional Long Term Development Plans, and Regional Medium Term Development Plans; And b.Policies, plans and/or programs that have the potential to cause environmental impacts and/or risks.
Application of the concept of green economy in the laws and regulations governing the protection and management of the environment alone as stated above, would not be sufficient.This should also be applied to all sectors related to the field and/or development sector.More specifically in development activities that use natural resources as the basic material for their activities.This is where the importance of the synergy of the three pillars (economic, social and ecological) of sustainable development.In addition to being aimed at supporting development and economic growth, economic development activities based on natural resources and the environment have significant impact on improving people's welfare, but still prioritizing efforts to protect and preserve the environment.[11] b. Planning document approach Green economic development cannot stand alone.Green economic development is the impact of economic development that pays attention to environmental and sustainability aspects.Therefore, a development planning document that pays attention to environmental aspects and sustainable growth is an important document that will become a key enabler in the implementation of a green economy.It is this planning document which, in Grindle's context, is a document covering the policy implementation strategy.
In the context of development planning, the Regional Government has the Vision and Mission of the Regional Head, the Regional Medium-Term Development Plan, and the Regional Government Work Plan.The document is a strategic document that contains the plans, targets and aspirations of the Regional Government within a certain period of time, as well as being the glue and common thread for development in the Bangka Belitung Islands Province.
Therefore, green economy-based development must be the basis of every regional development planning document prepared by the Bangka Belitung Islands Province, so that in the future it will not only be economic growth that is the target and indicator of development success, but also environmental sustainability and welfare development.
As an initiative in implementing green economy-based development planning, it is necessary to make a green economy development road map which will be used as a strategic reference document for developing development planning, so that it is aligned with the Green economy development goals.For example, in 2020 the Provincial Governments of Aceh and West Papua Province through the Bappeda of each province have just issued a Green Economic Growth road map document.The two provinces agree that a green economy is urgent for regional development at this time.Therefore, it is necessary to prepare a road map document which will later be disseminated to all stakeholders and various parties so that it can become a reference to be internalized in regional planning documents.[13]c.Institutional approach Even though the green economy has become the mainstream of economic thought, so far the development of a green economy in Indonesia, especially in the regions, is still at a normative level, or at least does not yet have a significant proportion of the regional economic system.The green economy concept has not fully become a reference in the regional development process.Currently the implementation of development is still based on the assumption of business as usual (BUA).
As mentioned above, Gridle also stated that power and institutions are one of the implementation contexts that affect the course of policy implementation.In Indonesia, green economy issues are still limited to the scope of the Ministry of Environment and Forestry (KLHK).In the context of the Bangka Belitung Archipelago Province, currently green economy issues have not received significant attention.Meanwhile, after the issuance of PERDA which became the legal umbrella and instrument for measuring compliance as well as the existence of a roadmap document and institutions that will carry out the management and development of a green economy.The management and development of a green economy may reside in several institutions carrying out specific functions, such as regional development planning, public works and spatial planning, food, forestry, marine and fisheries.However, it is necessary to appoint an institution that will carry out the function of harmonizing the planning, management and development of the green economy so that the implementation of the green economy can be achieved properly.

Conclusion
In conclusion, embracing green economic policies presents a significant opportunity to achieve environmental sustainability.By prioritizing the integration of environmental considerations into economic strategies and decision-making processes, countries can harness the potential for sustainable development while preserving the natural resources and ecosystems on which we depend.Green economic policies offer a pathway to address the challenges of environmental degradation and climate change while promoting economic growth and social welfare.By adopting a holistic approach that considers the content of policies and the context of their implementation, effective policy implementation can be ensured.
Key approaches such as establishing a legal framework, developing comprehensive planning documents, and fostering institutional coordination are crucial steps in realizing the vision of a green economy.These strategies provide the necessary foundation for guiding actions and initiatives towards sustainable development.It is imperative for governments, institutions, and stakeholders to recognize the importance of seizing the opportunity presented by green economic policies.By aligning economic interests with environmental and social considerations, we can create a more sustainable and resilient future for generations to come.By capturing the potential of green economic policies, we can pave the way for a harmonious relationship between economic growth, social equity, and environmental sustainability.It is through this transformative approach that we can build a prosperous future that balances the needs of people, planet, and prosperity.