Context of Green Economy

What - or howsoever we are talking about the green economy nowadays, first of all we should have a green attitude within us. The green economy should be an instrument for sustainable development, poverty reduction and for inclusive and equitable economic growth. Economic growth must be sustainable, supported by well-functioning markets, and preferential markets, and preferential access for green products at prices that reflect the scarcity value of the natural resources and value of local entrepreneurship/labor. Further, property rights must be clearly defined to enable and encourage true stakeholders to use natural resources sustainably- both individually and collectively. There must also be provisions for technology adaptation and transfer, easy finance, capacity building and favorable terms of trade and transit facilities to LDCs in order to facilitate economic transformation that is needed for sustainable development. Proven, people-centred, pro-poor, sustainable, and green development interventions should be planned considering tenurial scarcity and property rights of indigenous people and local communities to land and other natural resources. This would also require national commitment to enact appropriate legal and policy frameworks.

Developing countries in general and mountainous LDCs in particular need support for adopting the customising policies and strategies, and special provisions for meeting their additional financial, technical and capacity building requirements. Unsustainable consumption patterns, particularly in developed countries, must be changed as the trend is also catching up in urban centres of developing countries. Green economy should encourage the formulations and implementation of the policies and mechanism that are conducive in engaging governments, private sector and the civil society in the green enterprises. Training, capacity building and targeted interventions, including financial and credit facilities, can help to increase participation and enable the poor, women and socially excluded groups, and promote gender and social equity in education, skills and entrepreneurship development, health care, child welfare and social security. 

The LDCs and mountainous countries have very low capacity to control and manage the expanding ecological footprint of globalization. Special safeguard measures and global commitment is needed to ensure the promotion of the natural resources of environmentally vulnerable countries, for protection of the natural resources of environmentally vulnerable countries, for protecting livelihood that are being affected by both economic globalization and global climate change.