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The vision of the green economy SP/Di No 01-12 in Latin America and the Caribbean 19 From the standpoint of positive economics, redistributive green economy takes into account the facts and factual evidence of contemporary economics; it takes note of the developments and progress achieved at the present time, with special emphasis on efficiency and correct intertemporal allocation of factors of production; it considers the role of governments of all countries; it takes into account the relevance of production factors, especially labour and natural capital, based on the production function of the redistributive green economy. From the perspective of the normative economics, the concept of redistributive green economy expresses value judgments about: social justice, fair distribution of benefits among different countries and intergenerational social justice. It also attaches special importance to distribution of benefits of labour and natural capital. It provides recommendations and policy elements to be considered by all countries from the point of view of Latin American and Caribbean nations. It is vital to attach special importance to the elements of positive economics, without forgetting the normative aspects from a redistributive and inclusive approach. Other contributions to the concept of green economy In October of 2010, a meeting of experts was held at the headquarters of the United Nations Conference on Trade and Development (UNCTAD) to analyze the green economy and the implications for trade and sustainable development. On that occasion, an interesting exchange of information and views took place about the term “green economy” and its implications in the context of sustainable development and eradication of poverty. The role of the green economy was stressed as a new paradigm and the engine of sustainable development, having the potential to provide new impetus to trade and investment in the economies of developing countries. The experts said, among other things, that the concept of green economy was defined more than twenty years ago as the “economic underpinning of the idea of sustainable development.” More recently, in light of the treatment of this topic at international forums, it has been agreed that the term is an item of sustainable development and should be used to launch this process. In the base document of the meeting of experts, UNCTAD defines green economy as a productive process resulting from the improvement of human well-being and the reduction of inequalities, while limiting the significant scarcity risks at the environmental level for future generations. In addition, green economy could have several meanings and scopes and be considered: - an economic sector (land, water, biodiversity, energy, etc.) - a sector with a connotation of best practices, such as sustainable consumption and production, integrated strategies, social responsibility, etc. - a set of policies to achieve development goals (prices, taxes, subsidies, public investment or education) - a transition process that includes the previously identified policies and practices - the ultimate objective, with practices and policies being universally adopted. If it is related to trade and investment, concerns arise over the possibility that green economy could be used for protectionist purposes, to force certain economies to undertake structural changes, and/or as an element associated with the imposition of conditionalities. In any case, the different conceptions of the term “green economy” could demand greater flexibility to incorporate views and approaches of the various regions or countries and to consider several economic, social and environmental levels.PDF Image | green economy In Latin America and the Caribbean
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