The legal framework for green investment to achieve sustainable development (a comparative study)

Abstract

Abstract: Environmental risks have become a source of concern for all countries and their societies, to the point that they have become a concern for humanity and the international community. This has prompted the international community to develop mechanisms to protect them, ensuring the continuity of natural and renewable resources for future generations, protecting the planet from extinction, and returning to the values and humanity of humanity, preserving the ancient civilizations we strive for to this day. In order to avoid the environmental destruction that occurred in the past, it was necessary to restructure the economy to take environmental considerations into account and ensure the achievement of sustainable development. This is because the economy and the environment are, at bottom, closely related, as both aim to effectively manage scarce resources. According to the United Nations Environment Program, environmental sustainability leads to economic growth. A green economy can control the negative effects of climate change and its impact on water resources and food security. To achieve a green economy and green growth, the OECD recommended that countries develop new green industries, jobs, and technologies, as well as green activities and competencies, skills development, and job creation and transformation. The OECD also believes that achieving green growth requires decoupling economic performance from environmental performance. Therefore, countries must adopt modern technologies and develop new products that meet new demand patterns from households, businesses, and governments, and promote investment in the environment as a driver of economic growth.