Wednesday, May 09, 2012
[IWS] World Bank: INCLUSIVE GREEN GROWTH: THE PATHWAY TO SUSTAINABLE DEVELOPMENT [9 May 2012]
IWS Documented News Service
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
INCLUSIVE GREEN GROWTH: THE PATHWAY TO SUSTAINABLE DEVELOPMENT [9 May 2012]
[full-text, 192 pages]
This report argues that sustained growth is necessary to achieve the urgent development
needs of the world’s poor and that there is substantial scope for growing cleaner without
growing slower. Green growth is necessary, effi cient, and affordable. It is the only
way to reconcile the rapid growth required to bring developing countries to the level
of prosperity to which they aspire with the needs of the more than 1 billion people still
living in poverty and the imperative of a better managed environment.
Press Release 9 May 2012
World Bank Urges Governments to Think Green for Inclusive Growth
South Korea Pledges $40 million to Promote Green Growth for All
SEOUL May 9, 2012 –The World Bank today released a report urging governments to think green when pursing growth policies, which can be inclusive, efficient, affordable and above all necessary to sustain economic expansion in years ahead.
Launched at the Global Green Growth Summit in Seoul, Inclusive Green Growth: The Pathway to Sustainable Development, lays out an analytical framework that factors atmospheric, land and marine system limitations into plans for economic growth needed to further reduce poverty. The report debunks the myth that a green growth approach is a luxury most countries cannot afford – pointing instead to political barriers, entrenched behaviors and a lack of appropriate financing instruments as the chief obstacles.
The new World Bank Inclusive Green Growth report emphasizes five main points:
- Greening growth is necessary, efficient and affordable – it is critical to achieving sustainable development.
- Political barriers, entrenched behaviors and norms, and a lack of financing instruments are the chief obstacles to greening growth. Green growth must focus on the policies and investments that need to be made within the next 5-10 years – to avoid getting locked into unsustainable paths, damaging policy reversals and costly public health consequences.
- Progress requires multi-disciplinary solutions, blending economics, political science, and social psychology – to tackle political economy constraints, overcome deeply entrenched behaviours and social norms and develop the needed financing tools.
- Green growth is neither monolithic nor static – strategies will vary across countries, reflecting local contexts, preferences and resource bases. All countries, rich and poor, have opportunities to green their growth without slowing it.
- Green growth is not inherently inclusive, but can be designed to be so. While better environmental performance will generally benefit the poorest and most vulnerable, green growth policies must be carefully designed to maximize benefits and minimize costs for them, particularly during the transition.
An overview and the complete report can be found at www.worldbank.org/inclusivegreengrowth.
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