as a consequence lowcarbon growth as an alternative to business as usual is fast becoming the preferred model for major economies in both developed and developing countries its relevance lies in the fact that one of the objectives of lowcarbon growth of the green economy is to manage risks posed by global warming and climate change and to take advantage of the opportunities that they offer in terms of new technology development and greater efficiency in industrial processes it has now been clearly demonstrated that sustainable development makes economic sense as more jobs are created and the externalities that traditional models of development generate are limited