Entrepreneurial Activities on Green Economy Through Industry 5.0 on Environmental Sustainability With Special Reference to Bangladesh: A Macroeconomic Stability

Introduction

Entrepreneurial activities are needed to nurture green investment, businesses, finances, marketing and awareness through green plans and approaches which help the macroeconomic scenario of both developing and developed countries. Ghobakhloo et al. (2022) described that the industry 5.0 can donate to sustainable development, clarification in what way the expansion of the situation drives ought to achieve to activity through their synergies and influence to the proposed sustainability values. This ultimately helps entrepreneurial activities to attain macroeconomic sustainability of a country. Park and Yeung (2022) argued that an environment induces individuals to invest period and determination in developing physical, organizational, and human capital tolerantly. As a result, for an economy Industry 5.0 on environmental sustainability is significant.

The socio-political debate on the elements of sociocracy related to the green economy includes common property over land and capital goods. Pre-agricultural stages inform about power structures, distribution, and fulfillment of the community needs. The concept and meaning of green economy are rapidly expanding between academics and practitioners, as well as green economy publications including green economic policy and strategies, toolkits, and reports. Green economy is defined in national and local strategies and is analyzed within the historical context of structural power struggles and the influence of international development organizations over the management of natural resources, and the strong influence of international development organizations. Green economics integrates individuals and societies with nature to acknowledge their role in the economy. The green economic scenario as schemes need to clarification with macroeconomic condition so that challenges may face with weather modification, biodiversity damage, excess, and contamination in diversified countries. As such macroeconomic stabilization may be created by the green economic implementation. Saniuk, Grabowska, and Straka (2022) recommended that industry development ought to focus on three extents of development—human-centric, sustainable, and resilient and need to be created. Concerns with the protection of individual and community rights (Mill, 1859) correspond to the green economy seeking to enhance the welfare of the populace attached to individual needs, rights, and well-being. Critiques of the green economics thought as the concept of homo economicus to be rational to take decisions and in its place comprise of gross national happiness and subjects to deal with pragmatism against mathematical consistency, and the dynamism as an alternative to the irrelevant philosophy. The green economics approach argues the existence of the intention to construct models aimed to achieve the reconciliation between efficiency and distributive justice. Traditional organizations and enterprises can pressure the green economy model to be pushed out. Jones (2019) observed that Romer’s ultimate contribution stems from an appreciation that doctrines, because they are non-rival, are in their very essence different from other goods. Social and financial inclusion, removing income inequality and social justice with proper utilization of natural resources and environmental catastrophe need to be minimized for the community of a country is very much important for environmental sustainability and economic progress. Dalziel, Saunders, and Saunders (2018) described that wellbeing economics can donate to intensifying human capabilities for living the types of lives they can worth and have aim at value.