This chapter examines the concept of green growth by integrating theoretical perspectives, policy instruments, and empirical evidence, with a focus on the complex interplay between environmental sustainability and economic performance. Green growth posits that economic development can be decoupled from environmental degradation through targeted policy interventions and technological innovation. The first section revisits classical and modern economic growth theories, evaluating how green growth is supported or challenged within these frameworks. Key theoretical approaches such as decoupling theory, ecological modernization, the Porter hypothesis, and innovation-driven transitions are critically assessed. The chapter also discusses major critiques of green growth, including the physical limitations of absolute decoupling, rebound effects from efficiency gains, and concerns about equity and structural inequality embedded in the green capitalism paradigm. The second section focuses on carbon pricing mechanisms—carbon taxes and emissions trading systems—as well as green fiscal policies including public investments, subsidies, and tax reforms. Evidence from multiple case studies suggests that these instruments can effectively reduce emissions while supporting economic performance when designed and implemented coherently. Issues such as revenue recycling, sectoral targeting, and institutional capacity are emphasized as key success factors. The third section synthesizes empirical evidence from both developed and developing countries. Studies highlight the importance of political stability, policy consistency, and social protection mechanisms in mitigating potential negative impacts on growth and distribution. The chapter concludes that while green growth is not universally attainable under all conditions, it remains a viable and necessary development strategy when pursued through integrated, context-sensitive, and socially inclusive policies.