The greening of economic growth series ESCAP, its partners and Asia-Pacific countries have advocated "green growth" as a strategy to achieve sustainable development in the resource-constrained, high-poverty context of the Asian and the Pacific region. The conventional "grow now, clean up later" approaches to economic growth are increasingly placing the futures of regional economies and societies at risk. The forward-thinking policymaker is tasked to promote development based on eco-efficient economic growth and at the same time, record more inclusive gains in human welfare and socio-economic progress. In order to assist policymakers in responding to such challenges, ESCAP’s activity on green growth has been developed to focus on five paths: sustainable infrastructure development; investment in natural capital; green tax and budget reform; sustainable consumption and production; and the greening of business and markets. The ESCAP “Greening of economic growth” series provides policymakers with quick access to clear, easy-to-read guidance to specific "green growth" policy tools and actions.
This paper summarizes the additional uncertainty that is created by climate change, and reviews the tools that are available to project climate change (including downscaling techniques) and to assess and quantify the corresponding uncertainty.
Assuming that climate change and other deep uncertainties cannot be eliminated over the short term (and probably even over the longer term), it then summarizes existing decision-making methodologies that are able to deal with climate-related uncertainty, namely cost-benefit analysis under uncertainty, cost-benefit analysis with real options, robust decision making, and climate informed decision analysis. It also provides examples of applications of these methodologies, highlighting their pros and cons and their domain of applicability. The paper concludes that it is impossible to define the “best” solution or to prescribe any particular methodology in general.
Instead, a menu of methodologies is required, together with some indications on which strategies are most appropriate in which contexts.
This TEEB for Water and Wetlands report underlines the fundamental importance of wetlands in the water cycle and in addressing water objectives reflected in the Rio+20 agreement, the Millennium Development Goals and forthcoming post 2015 Sustainable Development Goals. The report presents insights on both critical water-related ecosystem services and also on the wider ecosystem services from wetlands, in order to encourage additional policy momentum, business commitment, and investment in the conservation, restoration, and wise use of wetlands.
TEEB Water and Wetlands aims to show how recognizing, demonstrating, and capturing the values of ecosystem services related to water and wetlands can lead to better informed, more efficient, and fairer decision making. Appreciating the values of wetlands to both society and the economy can help inform and facilitate political commitment to policy solutions.
The Durban conference decided to establish a new market based mechanism that is to cover a broad segment of a country’s economy. The question is, however, which developing countries would actually be able to implement such a mechanism. The introduction of the EU emission trading system highlighted the many challenges that even advanced developed countries face when establishing a carbon market. This paper therefore, aims to explore the essential prerequisites for the implementation of new market mechanisms (NMM). In addition to a theoretical discussion it considers the cases of China and Mexico.
This summary was prepared by Eldis.
This Policy Brief attempts to change the terms of the debate surrounding climate change policy. The authors argue that policymakers should do more to encourage innovation and investment in green research and development rather than focusing solely on the setting of a carbon price. Using a model developed by Aghion in a previous paper, they argue that a carbon price would have to be about 15 times higher in the first five years and 12 times higher in the next five years if innovation is not properly subsidized by governments. The authors also provide several policy recommendations for incentivising this type of green growth in the private sector.