Many Least Developed and Developing countries at Rio+20 voiced strong hesitation about the concept of green economy principles being introduced to their nations…and who could blame them? While it is in nobody’s interest for these countries go through the environmental destruction that occurred in Europe and North America during industrialization, for a green economy approach to work it must offer a pace equal to the current growth rate. Basically, it mustn’t threaten to stall out development for the sake of the environment. The green economy models available today are vague and are still in process. We have yet to find a market mechanism or combination of mechanisms that simultaneously attract businesses and investment while placing tight environmental regulations on them. States are bound to act short-sightedly. If developing States adopt the green economy principles currently available, they may hinder income levels, and thus hinder economic development in the short term. Short term economic success, despite eventually having long-term environmental consequences, will generally be favored by the developing world.
However, I’m an optimist. We can find a way to make adherence to green policies profitable and worthwhile for businesses without subscribing to green crony capitalism. Just take a look at the Green Scissors Campaign www.greenscissors.com, in which environmental and free-market NGOs work together to cut wasteful government spending on useless and harmful environmental policies. If green economy principles are going to be a viable choice during development, the principles must lead to the adoption of clear, concise and effective environmental laws that are also affordable and easy for private industry to abide by. These laws could be largely supported by taking a look at how property rights and more effective tort laws (which don’t favor the rich or powerful companies) could be applied as positive environmental protection mechanisms. Environmental economists are also doing some groundbreaking work in this field, helping to more correctly shape understanding of the actual worth of particular natural resources to countries over time. If Asia Pacific countries can price them accordingly on the market, then they won’t be incentivizing businesses to use unrenewable resources as if they have no end and thus, will retain and grow the wealth that lies within those resources. I look to Myanmar, and the opening up of it’s borders to FDI, as an excellent example of a country who will very soon begin to face this issue.
Green Economy APFEDon EarthSummitTV – live streaming video powered by Livestream.
The event was entitled “Driving Innovation towards a Green Economy: Lessons Learned and Recommendations from the Field in Asia Pacific.
The programme works with research institutes, local non-governmental organizations and participating communities to pilot small-scale, innovative, sustainable development projects. As the programme continues for it’s final year, the lessons learned about what worked (to strengthen local communities ability to retain or reverse the environmental degradation that damaged their livelihoods) and what failed to produce results, continues to be analyzed over time to see longer-term effects.


