 |
The Future of Sustainability: Have Your Say! Week Three - “The New Economy and Biodiversity”
How do we build a new economy that benefits people and the planet? I think that the market will have key role to play in the future of sustainability. As Professor William Adams report says, “the market is capable of driving massive changes in environment and human opportunity on a scale and at a speed that dwarfs the regulatory powers of citizen, state or global organization” (p.12). But there are big challenges to turning the market into a force for sustainability. We need better ways of making markets account for the ecological truth and help reduce poverty. And we need new strategies to influence consumer choices so they prefer sustainable products and services. There are many creative ways to link markets with biodiversity. Take markets for ecosystems services for example. Powerful incentives to landowners, poor farmers and conservationists can come from markets for watershed protection, carbon sequestration, and biodiversity services. Mitigation of climate change, through the payment for CO 2 emission credits under the Kyoto protocol and similar policies, has been one of the most promising emerging new environmental markets. “Bottom of the pyramid” markets, a concept developed by C.K. Prahalad from the University of Michigan , also combines social development with commerce. Low income families, at the base of the pyramid, gain from small loans for new products, such as mobile phones, that bypass middle-men and create new opportunities to help improve their living standards. I believe conservation organizations will need to work much more proactively with businesses. They will also need to work with policy makers to help develop market-based environmental policies. In the future, every single organization should automatically measure its ecological footprint and pay for it. But at the moment we lack the metrics to measure environmental shortcomings and successes. Compared to the economic world, the environmental community has not good been at measuring itself so we lack the tools to know if we are making a difference. I would like to see a new economy shaped by the many exciting innovations in sustainable production and manufacturing. Some progressive companies, using nature and ecosystems as design principles for business practices, consider full lifecycle systems (‘cradle to cradle’ thinking) when delivering services. They work to minimise waste, eliminate toxics, increase resource productivity and produce net positive benefits to people and planet. What about the role of trade in the new economy? Trade is a key driver of economic growth and investment, but how do we make it friendlier to the environment and poorer groups in society? How could we convince WTO that environment and sustainability are necessary elements in trade? Finally, effective communication that convinces non-environmental sectors of the importance of our environment is critical. Emerging economies, such as China , are of crucial importance. We have an opportunity to leap frog to new systems of sustainable production and consumption. But we can’t do it alone. We need help from the international community and greener technologies to set ourselves on the sustainable development pathway. Let me give you an example of the impact of China on the world. 10% of China ’s export goes to Wal Mart. It would have an enormous impact on China and the world if we convinced the company to only buy products grown or produced in a sustainable way. Some conservation organizations are already pushing businesses in that direction, and we need to push harder – together with leading businesses. The goal: a new economy that is based on the fundament of a clean environment, not simply as a cost, but also as an opportunity. How do we develop markets and business models that conserve biodiversity and enhance ecosystem services? What do you think? I look forward to your hearing your views. |