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Green Growth Paths |
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1. Sustainable Consumption and Production (SCP) By adopting sustainable consumption and production (SCP) practices there is an opportunity for countries to improve the eco-efficiency of economic growth. Given that there are limits to the capacity of the Earth’s ecosystems to absorb pollution and provide natural resources, the only way to maintain economic progress in the long term without approaching these limits is to decouple economic growth from environmental degradation. In practical terms this means getting more from less; including more efficient and profitable production, using less raw materials, bringing competitive advantage; more value added to a product, with less pollution and waste in the process; and more consumer needs fulfilled, with less energy, water or waste. The major innovation and strength of SCP is to provide a holistic perspective that integrates the whole life cycle of products and services, combines production and consumption related practices, covers the triple bottom line of economic, environmental and social aspects, follow an interdisciplinary perspective and offers a framework for a consistent policy approach. The role of the public sector is to create a conducive environment for more investments necessary to provide for sustainable consumption choices. |
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2. Greening Business and Markets Green businesses are defined as enterprises which consider environmental protection as an essential component of their long-term business objectives, both by promoting eco-efficient production activities and by marketing sustainable products and services. Almost all businesses have the potential for improvements both in efficiency and resource use spurring greater environmental sustainability while reducing costs and maximising profits. Across the region corporations and small and medium-sized enterprises (SMEs) are becoming the agents of change for sustainability and have managed to turn protection of the environment into a business opportunity. By introducing policies, legislation and incentives and encouraging companies to pursue the greening of their business practices, governments can significantly contribute to the achievement of the Millennium Development Goals (MDGs) particularly in regards to poverty alleviation (goal 1) and to environmental sustainability (goal 7) while adapting to the impacts of climate change. Governments can use a variety of Green Growth policies to create an enabling environment for businesses to adopt green practices. It is critical to raise awareness amongst the private sector and the public that in this time of resources scarcity, environmental stewardship and corporate social responsibility are business opportunities rather than additional costs. Huge potentials exist for firms accross the region to develop new environmentally sound technologies and climate-friendly goods and services. For more information click here
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It is widely recognised that infrastructure provides the foundation for economic and social development and is key to improving livelihood opportunities as well as delivering critical needs and services to communities. Patterns of infrastructure development determine the environmental sustainability of economic growth and are critical to building low-carbon economies. The development and expansion of infrastructure, however, often has serious environmental repercussions. As cities grow, highways lengthen and water, energy and sanitation services are expanded. Infrastructure is very intensive in resource use, including energy, water, materials and land. Without careful planning, infrastructure can lock countries into unsustainable production and consumption patterns that may prove difficult to reverse. A sustainable infrastructure system is one that facilitates a higher-quality delivery of housing, transport, energy, water, waste and sanitation services, with less use of resources, to support social and economic development in an integrated, eco-efficient and inclusive manner. By adopting sustainable infrastructure higher-quality services can be delivered with less use of resources and lower negative environmental impacts, as well as lower vulnerability to the impacts of climate change. |
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4. Green Tax and Budget Reform (GTBR) Green Tax and Budget Reform (GTBR) is a fundamental fiscal policy instrument for: reducing poverty; raising fiscal revenues; and improving eco-efficiency, public health, and environmental quality. It is a key driver for sustainable infrastructure, greening business, and sustainable consumption and production. GTBR entails two major complementary policy initiatives that should be implemented in coordination to maximize effectiveness. The first, green taxation, involves levying taxes on environmentally relevant activities and products, such as the extraction of natural resources or pollution. Green subsidy reform, the second component, consists of gradually eliminating counterproductive subsidies that favor unsustainable development and redirecting fiscal funds towards areas that support Green Growth and poverty reduction. The combination of such actions sends a price signal to consumers that more correctly reflects the real cost of production, or in economic terminology, internalizes negative externalities. In efforts to reduce the tax burden and correct the distortionary effect of traditional tax structures, GTBR aims to be revenue neutral, whereby income taxes, pension payments, and/or the VAT are reduced to compensate for increased green taxation. For more information click here 5. Eco-efficiency Indicators To enable countries in the region to improve the ecological efficiency of the national, system-wide economic development planning, UNESCAP has identified the need to develop a new set of Eco-efficiency Indicators (EEI). The purpose of the EEI is to measure and compare the eco-efficiency of economic growth of different countries and to identify policy measures to improve this. The EEI will strengthen the role of the public sector and will provide a powerful policy formulation tool to increase its influence on the pattern of economic growth at a national system-wide level. For more information click here 6. Investment in Natural Capital
Investments in natural capital can take many forms. Any expenditure that results in the improved sustainable management of ecosystems that support socio-economic progress can be viewed as an investment in natural capital. Investments to reduce soil erosion and nutrient loading through improved watershed management would be a “natural capital investment” alternative to an investment in a water treatment plant. In many ecosystem service markets, such as in Viet Nam and Indonesia, the economic impacts of declining ecosystem services flows are real, immediate and quite local. Such scenarios create ideal opportunities for payments for ecosystem services (PES) to be implemented— which work to preserve and enhance the services these ecosystems provide and also to augment rural incomes and provide alternative livelihoods. Specific investment mechanisms can allow multiple stakeholders to invest in the sustainable management of environmental systems that support the economy and society. Innovations in the Costa Rican Payments for Ecosystem Services (PES) system, for instance, allow the private sector and individuals to make payments through a website to invest in forest management. Tourists can also make a similar investment through airlines flying to Costa Rica and through Costa Rican hotels. International payments for ecosystem services through forest carbon markets can complement investments from local beneficiaries (e.g. water and energy users) to ensure that services such as carbon sequestration and watershed protection continue to benefit the local economy and communities, but also mitigate climate change.
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