Page 25 - Ebook HTKH 2024

introduced an approach to the structured input-output model with a projected GDP
gradient and developed factorial models for energy consumption and CO2 emissions.

The finding is that the proposed changes in the structure of total output simultaneously
allow for an increase in GDP, reduce energy consumption, and minimize CO2
emissions.
Although used in many studies, among them are Tao Liu et al. (2023), assessments
using this GDP approach have difficulty quantifying environmental costs accurately,
which may limit its accuracy.
Environmental Performance Index (EPI): Developed by Yale and Columbia
Universities, the EPI ranks countries based on environmental health and ecosystem

vitality. Including indicators such as air quality, water resources, biodiversity, and
climate change, EPI offers a broad perspective on environmental sustainability but is
more of an assessment tool than a direct measure of economic growth.
Sustainable Development Goals (SDG) Indicators: The United Nations’ SDGs
include several indicators related to sustainable economic growth, such as clean energy
use, sustainable industrialization, and responsible consumption.

Tetiana Melnyk et al. (2020) use the System of Environmental-Economic
Accounting (SEEA) built by the UN approach for assessment to assess the change in the
environmental impact of the new economic model. In their work, the authors follow a
unified approach in building their algorithms of international organizations (ОЕСР,
UNEP, and the World Bank) to assess "green growth", especially concerning the
Sustainable Development Index. These indicators help monitor progress toward
sustainability goals but do not offer a direct measure of green economic growth.

Green Revenue Classification Systems (GRCS): Systems like FTSE Russell’s
GRCS classify and track revenue from green products and services. They focus on the
economic activities directly contributing to environmental sustainability, providing a
clear link between economic growth and environmental benefits. GRCS is particularly
useful for investors and policymakers in targeting green investments.
In this paper, the author will evaluate the green economic growth trends of two

cases of Canada and Vietnam using the GRCS method thanks to its advantages. Because
the classification system includes many levels, the author can only use two typical
indicators for each level of assessment. From the research results, the article provides
policy suggestions to speed up the process of greening the economy according to the
specific characteristics of the two countries.
2. “Green Level” of business activities
The GRCS categorizes green business activities into three tiers based on their
environmental benefits. This stratification helps stakeholders understand the varying

degrees of environmental impact associated with different business activities.
Tier 1: Significant and Clear Environmental Benefits
Tier 1 encompasses green products and services that offer substantial and
unmistakable environmental advantages. These activities are at the forefront of reducing
negative environmental impacts and promoting sustainability. Examples:

17