For the next fifty years and beyond, the world faces twin challenges:
-Enhancing economic opportunities and living standards for a growing global population;
-Addressing the environmental threats that, if left largely unaddressed, could undermine the world's abilities for longer term economic growth and development and the ability to reduce poverty.
For twenty years the world community has attempted to face up to these challenges, notably global warming by a “top down” international negotiation process under the auspices of the UN Framework Convention on Climate Change (UNFCCC). The paper discusses why this process has failed so far.
To escape this impasse, a “bottom up” policy framework for green growth based on national preferences, possibilities and policies should be considered and is discussed in some detail.
However, while green growth may enhance the transition towards low-carbon economies in the short – and medium term, it is argued that a “Global Green Deal” with regional and global rules of the game is needed to reduce the risk for unsustainable development in the longer term.