UNEP´s ´Green Economy Report´ outlines pathway towards low-carbon, resource-efficient economy
Friday, 04 March 2011 12:44 | 
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On 21 February, the UN´s Environment Programme (UNEP) released a major report which claims that investing 2% of global GDP in green growth would enable the shift towards a low-carbon, resource-efficient economy, while boosting economic growth, jobs creation and fostering social justice...
The report, entitled 'Towards a Green Economy: Pathways to Sustainable Development and Poverty Eradication',focuses on ten key sectors which are driving the defining trends of the transition to a green economy. "Greening" agriculture, buildings, energy supply, fisheries, forestry, industry, tourism, transport, waste management and water would enable to halve our global ecological footprint by 2050, the report reads. It further shows that a green economy can generate consistent and positive outcomes for increased health, growth and economic output, decent employment and reduced poverty.
This will require to leverage huge funding estimated at $1.3 trillion per year. According to the authors, the bulk of this amount would have to come from private capital. World governments will have to create adequate and favourable enabling conditions, such as appropriate domestic fiscal measures and policy reforms, international cooperation through trade, aid, market infrastructure, and capacity-building support. The authors believe that much of the huge amount needed for green investments could be generated by eliminating the 1% of global GDP going to environmentally harmful subsidies (to areas such as fossil fuels and agricultural pesticides). Furthermore, UNEP sees opportunities for innovative financing mechanisms in the planned ´Green Climate Fund´ (agreed in Cancún to finance climate adaptation and mitigation efforts in developing countries) and in REDD+ funding schemes.
"A Green Economy is not about stifling growth and prosperity", said Pavan Sukhdev, the head of UNEP's Green Initiative. "It is about reconnecting with what is real wealth; re-investing in rather than just mining natural capital, and favouring the many over the few."
The ´Green Economy Report´ is to feed into next year´s global sustainability summit, Rio+20. According to countries like Germany, Sweden and the Czech Republic, achieving the transition to the ´green economy´ will require a reform of global environmental governance and the strengthening of UNEP. Speaking during a meeting of the UNEP´s governing council in Nairobi last week, Germany´s Environment Minister Norbert Röttgen argued that UNEP must have the same status as other UN agencies such as the World Health Organisation (WHO) and the Food & Agriculture Organisation (FAO). Along the same line, France is calling for the creation of a brand new World Environmental Organisation (WEO).
This will require to leverage huge funding estimated at $1.3 trillion per year. According to the authors, the bulk of this amount would have to come from private capital. World governments will have to create adequate and favourable enabling conditions, such as appropriate domestic fiscal measures and policy reforms, international cooperation through trade, aid, market infrastructure, and capacity-building support. The authors believe that much of the huge amount needed for green investments could be generated by eliminating the 1% of global GDP going to environmentally harmful subsidies (to areas such as fossil fuels and agricultural pesticides). Furthermore, UNEP sees opportunities for innovative financing mechanisms in the planned ´Green Climate Fund´ (agreed in Cancún to finance climate adaptation and mitigation efforts in developing countries) and in REDD+ funding schemes.
"A Green Economy is not about stifling growth and prosperity", said Pavan Sukhdev, the head of UNEP's Green Initiative. "It is about reconnecting with what is real wealth; re-investing in rather than just mining natural capital, and favouring the many over the few."
The ´Green Economy Report´ is to feed into next year´s global sustainability summit, Rio+20. According to countries like Germany, Sweden and the Czech Republic, achieving the transition to the ´green economy´ will require a reform of global environmental governance and the strengthening of UNEP. Speaking during a meeting of the UNEP´s governing council in Nairobi last week, Germany´s Environment Minister Norbert Röttgen argued that UNEP must have the same status as other UN agencies such as the World Health Organisation (WHO) and the Food & Agriculture Organisation (FAO). Along the same line, France is calling for the creation of a brand new World Environmental Organisation (WEO).
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