The Organization for Economic Cooperation and Development (OECD) launched a consultation titled ‘Green Growth and Developing Countries’, was launched on June 17 at the Fair Ideas Forum, a Rio+20 side event, organized by the International Institute for Environment and Development. It involved high level discussions on a green economy draft document. Although the concept of a green economy has been heavily criticized by some developing countries, the goal is to reconcile the environment with economic growth and poverty reduction.
There are concerns that green economy policies could lead to new trade barriers and a corporate takeover of natural resources. The central problem is that the phrase has multiple definitions, and its mechanism (markets and pricing, government subsidies and regulation, government investment, capacity building, and stakeholder partnerships and collaboration) may be contradictory.
Although it is much misunderstood, green growth may be the best option for developing countries to achieve sustainable development.
Click here for the Green Growth and Developing Countries consultative draft report document (pdf).
© 2012, Richard Matthews. All rights reserved.
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