In this day and age, some people believe that environmental issues originate from developing the economy. From my point of view, I agree with this opinion; nevertheless, I also believe that applying a wide range of feasible development schemes does not affect the environment.
On one hand, there are numerous factors of economic growth damaging the environment. Initially, the detrimental pollutants from various factories cause an adverse influence on the environment. For example, China is one of the most developed countries in the world laying a significant emphasis on developing national industry, particularly in factories, but the waste disposal from these has been a challenging problem for the government. As a result, the pursuit of high growth poses a serious threat to the atmosphere’s quality and leads to severe damage to the health of citizens living nearby. In addition, economic development is causing the depletion of natural resources. This is due to the fact that developing the economy needs abundant materials, such as fossil fuels and non-renewable energy, which is leading to the loss of crucial sources serving the future’s demands.
On the other hand, a number of areas are paying attention to fostering the national economy by using environmentally-friendly energy. This includes wind and solar power, which are the available resources and do not contribute to pollution. For instance, in Singapore, the government encourages all companies to use these materials to manufacture products that enhance the air quality and save energy for the future. As a result, it not only facilitates the development of the whole national finances but also creates a favorable chance to preserve the environment.
In conclusion, while economic growth has negative impacts on the environment, there are several alternative approaches that help the government address this issue in order to develop the whole national economy comprehensively. It is also recommended that various stakeholders should devise a comprehensive plan to overcome environmental issues related to promoting the financial system.