The Seoul G20 summit ended on 12 November, 2010. On November 9, Achim Steiner, the UN Undersecretary General and Executive Director of UNEP, wrote about the important role the G20 can play 'embedding a fundamental transition to a more sustainable global economy that looks beyond the current, narrow definition of wealth and GDP.'The G20 has acted to stabilize banks and to counter the financial and economic crisis. Steiner hoped that the G20 meeting in Seoul could have been 'a watershed in international financial and economic affairs, where the pledge, made at the G20 in London, toward a green and more sustainable recovery moves from communique to concrete commitment.'
The G20 must deal with the important issues of averting economic crises similar to the recent recession and 'the even bigger and more complex ones emerging as a result of climate change, environmental degradation and unsustainable overexploitation of the planet’s natural assets.'
As Steiner pointed out, there are some very promising signs that more and more countries are understanding the urgency of the climate change crisis. Korea has earmarked close to 90 percent of its funds to a short- and long-term vision of green growth. The country’s leaders have also made the indivisible link between the leadership role of public policy making in terms of unleashing private sector investment into clean tech and other green sectors.
The costs associated with climate change are being factored into the thinking of an increasing number of banks and pension funds who are beginning to see rising risks to their investments from the loss of ecosystems. Increasingly people understand that the disruption to food supplies, supply chains and other challenges linked with natural resource losses are a much bigger threat than international terrorism.
Related Posts
The G20 and the Transition to a Greener Economy
The G20 and the Green Economy
Greenpeace's G20 Checklist
Spain Renews its Commitment to Clean Energy at the G20
UN Chief Asks G20 to Focus on a Sustainable Recovery
The Economics of Ecosystems and Biodiversity
G20 Summit in Toronto Ends with Little Action on Climate Change
G20 Must Cooperate for a Sustainable Recovery
G20 and Central Bank Governors Joint Communique
G20 Disagreements and Global Economic Reforms
Program and Plans for G8 and G20 Summits in Canada
UN Climate Change Initiatives Post Toronto
G20 Security Concerns Force Cancellation of Sustainable Supply Chain Event
G20 Protestors Dilute Green Message
Canadians Disappointed with Conservative's Lack of leadership at the Toronto G20 Summit
The G20 and the Developing World Disagree on Proposed Climate Change Protocols
Competing National Priorities
End Fossil Fuel Subsidies
Local Business Promotes Green Agenda for G20 in Pittsburgh
G20 Lays the Foundation for a Better World
Global Warming Exposes Resources but Arctic Meeting Leaves Some Out in the Cold
G8's More Aggressive GHG Targets
0 comments:
Post a Comment