A Framework for Green Growth and Socio-Economic Development in Malaysia

Abstract

The green growth or green economy concept presents opportunities for more inclusive growth while protecting the environment. Malaysia has experienced rapid economic growth with gross domestic product annual growth rate averaged 4.1% over the period of 2004-2013. However, the rapid economic development may lead to declining focus on social equality. In Malaysia, although poverty has been reduced in trend, it is still a challenging issue, especially in rural areas. Greening the economy could integrate the social equality, as a pillar of sustainable development, with economic and environmental priorities. Indeed, it may improve the human well-being while significantly reducing environmental scarcity. A green economy could help to indicate the value of natural capital as a provider of human well being and a source of new jobs. This paper attempts to discuss on how green economy could improve the livelihood security and poverty eradication in Malaysia. It also seeks to understand what a socially transition to a green economy may look like and key interventions needed to achieve it.