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Glossary

Green transition

(16:37 or p.5 in the transcript)

The green transition means a shift towards economically sustainable growth and an economy that is not based on fossil fuels and overconsumption of natural resources. A sustainable economy relies on low-carbon solutions that promote the circular economy and biodiversity.For companies, the manufacturing industry and municipalities, the green transition can mean investments in clean energy production, circular economy solutions and hydrogen technology, and the introduction of different kinds of new services and operating models. Low-carbon roadmaps and sustainability strategies drawn up by different sectors are an important part of this package. What the green transition means in daily lives includes, for example, phasing out fossil oil heating and shifting to electric cars. For the society as a whole, it can mean different kinds of incentives and subsidies for these and legislation that supports the green transition. The green transition also means questioning individual consumer habits and ways of thinking, e.g., using machines and appliances that consume less electricity or being ready to pay more for products manufactured that cause less emissions.source