Green Entrepreneurship and Transformative Change Towards Green Economy: Challenges and Prospects (A Study of selected Manufacturing and Service Sector Enterprises in Karnataka)

Abstract

Green entrepreneurship is connected with the idea of green economy oriented at increase in social welfare, social justice, at the same time reducing environmental risk and ecological problems. The main reason behind the emergence and development of the concept of green economy is the movement towards a more integrated and comprehensive approach to incorporating the environment in economic processes. This concept is aiming at increasing the economic activities keeping in mind the climatic problems and deficiency in natural resources, mainly through resource and energy efficient technological innovations. A green economy is one where economic growth is accompanied by reduced carbon emissions and pollution, enhanced energy and resource efficiency, and maintained ecosystem services including biodiversity. Such an economy could address important global economic and development issues. In this regard the proposed study aims at understanding the challenges and opportunities of the green entrepreneurship by identifying and analyzing the critical factors influencing green entrepreneurship in transformation towards sustainable development of green economy. The study also intends to examine the green strategies adopted by the existing entrepreneurs and starts up in the selected manufacturing sectors.