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STORIES
17 July 2019

In response to the global climate and ecological emergency, leading global labour, economic and environment institutions came together for the first time to commit to new principles to achieve green and fair economies, at the United Nations High-Level Political Forum in New York on 16 July 2019.

The diverse institutions ― including the OECD, ILO, UNDP, UNEP and the Green Economy Coalition ― are calling for a different approach to governing economies to avoid environmental breakdown, one that puts people and nature first.

They are launching a framework for economic reform ― ‘Principles, priorities and pathways for inclusive green economies: Economic transformation to deliver the SDGs’ ― comprising a series of catalytic activities and key principles to guide collective action in diverse contexts.

Few countries are on track to achieve either their national targets for tackling climate change or the Sustainable Development Goals (SDGs). Humanity is facing unprecedented and interrelated challenges, including climate change, biodiversity loss and growing inequality.

According to the Intergovernmental Panel on Climate Change, countries have only eleven years to prevent the worst impacts of climate change (October 2018). The Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES) has confirmed that nature is facing an unprecedented decline and one million species are threatened with extinction (April 2019).

The transition to inclusive green economies demands a significant shift in the way our economies are managed, measured and governed. Key steps include recognising the multiple values of nature in economic decision-making; prioritising wellbeing and the equitable distribution of opportunity and outcome; aligning prices, subsides and incentives with the true costs to society; embracing new models of development that enable economic growth without raising resource consumption; and supporting public participation and social dialogue.

The collaborating institutions are:

  • Global Green Growth Institute (GGGI)
  • Green Economy Coalition
  • Green Growth Knowledge Partnership (GGKP)
  • International Labour Organisation (ILO)
  • Organisation for Economic Co-operation and Development (OECD)
  • United Nations Development Programme (UNDP)
  • United Nations Environment Programme (UNEP)
  • UN Partnership for Action on Green Economy (PAGE)
  • UNDP–UNEP Poverty-Environment Action for Sustainable Development Goals (Poverty-Environment Action)
  • Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ)

They are inviting other institutions to join their shared mission for green and fair economic transformation.

For the full report, please see: ‘Principles, priorities and pathways for inclusive green economies: Economic transformation to deliver the SDGs’.