The Economy Ministry has plans to develop a green growth strategy for the country, deputy minister Romeo Mikautadze announced at a “high-level dialogue” on sustainable public procurement and eco-labelling in Georgia on October 25.
The ministry cited Mikautadze as saying sustainable public procurement and eco-labelling were “essential components of a green economy”.
“In sustainable public procurement, public spending encourages the private sector to improve environmental and social characteristics in its activities, and eco-labeling creates market incentives and incentive mechanisms for consumers to choose products that meet certain sustainability requirements”, the minister said.
The official also added implementation of green economy principles in Georgia’s private sector was important, as it would contribute to the development of competition and growth in employment and income.
“In order to achieve economic growth in modern conditions, it is necessary to introduce a new type of economic model oriented towards green growth, which will contribute to the modernisation of the country’s economy through the introduction of new types of green technologies”, Mikautadze said at the conference. (Agenda/Business World Magazine)