The First Global Green Prosperity forum opened in Beijing on July 30 and invoked "environomics" as the way forward for business and government.

"Environomics" refers to environmentally safe prosperity, according to Deng Jihai, secretary general of the International Green Economy Association (IGEA).

The financial crisis has prompted a shift toward green development, which is viewed as a way to drive prosperity in concert with what's good for the environment, Deng said.

He added that the IGEA would conduct the first evaluation system of "green & prosperity" for companies worldwide, which will measure energy consumption and wealth creation as it relates to the environment and green development, and then rank the top 100 companies. The list will be available this November.

Cheng Siwei, former vice chairman of the Standing Committee of the National People's Congress, hopes green development will produce social benefits.

"Only the real economy can generate wealth, so it takes a key place to achieve green prosperity," Cheng said, "However, that means socially prosperous rather than individually wealthy."

The green industry, still in its infant stage, needs financial support from governments at different levels, Cheng said. On one hand, subsidies or long-term loans at a preferential interest rate should be granted to encourage enterprises to explore green technology; on the other hand, government procurement should give priority to green products.

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