What does it Take to be Green? Evidence from Asia and the Pacific

Abstract: This paper reviews the green markets, technologies and practices with a particular focus on Asia-Pacific countries as well as provides some policy recommendations facilitating public and private organizations in order to speed up green business development. The paper argues that there are massive potential for gearing up green business expansion in Asia and the Pacific. A number of green businesses are already leveraging private sector capabilities and resources both through direct command-and-control measures and through indirect market-based instruments targeted at not only large firms but also small and medium enterprises. The paper suggests that adopting the greening strategy can be a win-win situation for the stakeholders but it needs to mobilize vast capital resources as well as inspiring technological innovation. The paper ends up providing the options to the Asian and Pacific countries and firms to hold the green “Great Revolution” or to continue with traditional “Short-term” stakeholders’ return from the region’s swiftly declining natural resource base.