Green economy governance and regulation: Green industry and clean technology for sustainable development

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Abstract

The green economy promotes economic growth while enhancing environmental and social well-being through the adoption of sustainable technologies, crucial for fostering development in line with environmental sustainability principles (Söderholm, 2020). This study aims to explore the integration of green industries and clean technologies into Thailand’s economic framework, a critical step for advancing sustainable development and enhancing the green economy. Employing qualitative methodologies, the research involved in-depth interviews with a diverse group of eight stakeholders, including industry leaders, policymakers, and sustainability experts, to gather detailed insights into the implementation challenges and success factors. Content analysis was used to interpret the data collected. The findings underscore the importance of addressing significant challenges such as financial constraints, technological limitations, and regulatory inconsistencies. A strategic approach, incorporating government incentives, public-private partnerships, and international cooperation, is advocated to ensure alignment with environmental sustainability goals. Continuous monitoring and adaptive management are highlighted as essential for maintaining the relevance and effectiveness of these strategies. Ultimately, this strategic framework may serve as a model for global best practices in green economic development, marking a potential transformative advancement in sustainability.

Keywords: Green Economy, Green Industry, Green Technology, Sustainable Development

Authors’ individual contribution: Conceptualization — S.P. and R.S.; Methodology — S.P. and R.S.; Validation — S.P. and R.S.; Formal Analysis — S.P. and R.S.; Investigation — S.P. and R.S.; Resources — S.P. and R.S.; Data Curation — S.P. and R.S.; Writing — Original Draft — S.P. and R.S.; Writing — Review & Editing — S.P. and R.S.; Visualization — S.P. and R.S.; Supervision — R.S.

Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

JEL Classification: Q01, Q56, Q58, O13, O44

Received: 20.05.2024
Revised: 22.09.2024; 11.10.2024; 17.03.2025
Accepted: 07.04.2025
Published online: 10.04.2025

How to cite this paper: Priwarapan, S., & Sonsuphap, R. (2025). Green economy governance and regulation: Green industry and clean technology for sustainable development. Corporate Governance and Sustainability Review, 9(2), 8–17. https://doi.org/10.22495/cgsrv9i2p1