GREEN ECONOMY A SIDS Perspective.

1. GREEN ECONOMY A SIDS Perspective. 4th October 2012 Presentation by D. Dogley

2. General Understanding of Green Economy • A tool not a paradigm • Simplest terms GE is one which is low carbon, resource efficient and socially inclusive • SIDS advocated for “Oceans-based Blue Economy” is an integral part of GE.

3. What should it do? In practical terms GE should: • create growth in income and employment • be driven by public and private investments • reduce carbon emissions and pollution, • enhance energy and resource efficiency, and • prevent the loss of biodiversity and ecosystem services. • supported by targeted public expenditure, policy reforms and regulation changes.

4. SIDS-Sustainable Development Challenges • characterised by their small populations, remoteness, prevalence to natural disasters • Dependent on imports and small and narrow base of economy (no economies of scale) • Heavy debt to GDP in excess of 100% • development impeded by the global economic down turn-economic volatility • significant impacts from climate • Seen large erosion of trade preferences

5. Sustainable Development Challenges • High costs of energy, transportation and communications, • creating high prices in-country lowers competitiveness at the international level • Risk of investments higher –also borrow at higher interest rates • Piracy in the Indian Ocean • disproportionately high costs of investments per capita in infrastructure

6. SIDS position vis a vis Green Economy • SIDS has always supported/ promoted sustainable development and low carbon economy • Current development pattern not sustainable for SIDS-HDI proof of recess not progress • Support motivated by threat posed by climate change -350ppm • Result in increased vulnerability and threat to long term survival as viable states

7. Green Economy and AIMS Sub-region • In July 2011-island states belong to AIMS region embraced the concept of GE • The concept of GE still new-implications unknown • However, it was felt that more needed to be done to achieve a common understanding • Another concern was the overall costs to shift from current economic setup to GE • Will there be support, if yes from where

8. AIMS Prepcom meeting Outcome on Green Economy (July 2011) • There is no one-size-fit all solution for the Green Economy. Each SIDS has to define Green Economy depending on their specific context and devise the enabling conditions. • For SIDS, the Blue Economy should be an integral part of the Green Economy for sustainable development and poverty eradication

9. AIMS Prepcom meeting Outcome on Green Economy (July 2011) • Recommendations: • 1) Assess both the opportunities, risks and challenges associated with the transformation to Green Economy. • 2) Develop a coordinated approach to access sustainable financing for the transformation to Green Economy and establish a technological expertise sharing mechanism (both North-South and South-South). • 3) Collect and share existing best practices in the AIMS sub-region and develop regional expertise, e.g. through establishing regional centres of excellence.

10. GE in context of SD and poverty Eradication- (RIO+2) outcome doc • one of the important tools for sustainable development • respect each country’s sovereignty over their natural resources • used to justify discriminatory restriction on trade • country can choose an appropriate approach • underscore the importance of governments taking a leadership role

11. Key questions to overcome Challenges • How can SIDS overcome these inherent and emerging challenges and build resilience across all sectors? • What strategies and best practices that exists that they can learn from? • What sources of financing is available to meet the cost of transforming to a GE? • What capacities and technology are required?

12. Key Elements for Transformation to GE-national level • Political will and governance • Integrated and comprehensive plan covering all sectors and the blue economy • Engagement of and collaboration between the public, private Sectors and Civil society • Strengthening of institutions and local capacities-create enabling conditions • New and additional financial mechanisms • Monitoring and evaluation

13. Commonwealth Framework for Transformation-national level • Recognise the value of ‘natural capital’ and its potential for growth • Introducing spatial planning • Transforming patterns of economic investments • Creating new approaches to governance • Growing the institutional and human capacity to act

14. Conclusion • SIDS have embraced GE • A number of plans and initiatives exists already in SIDS • New investments main economic activities –green labels, fish farming, co-management of sites • Investment in protected areas • However, more dialogue, studies, best practices investment and support required

15. Conclusion • However, more dialogue, studies, best practices investment and support required • Transfer of technology • Identification of priority areas for action • Identification of risks and challenges and potential solutions • Establish regional partnerships and cooperation such as the western Indian ocean challenges

16. Conclusion –action at regional and international level • Strengthening of regional and sub-regional organization to provide support-IOC • Regional conventions e.g. Nairobi convention support institutional strengthening and capacity building • Conduct sectoral studies on best practices • UN agencies especially UNEP needs to create awareness and support adoption and implementation processes

17. Innovative Financing Mechanisms • A debt for climate adaptation swap especially for marine ecosystem conservation • Carbon trading –using ecosystem based adaptation approach for blue carbon • Access to grants- EU, GEF, Adaptation Fund, SIDS DOCK platform • Access to low interest loans

18. Thank you