The Green Economy, Boon or Menace?

MEXICO CITY, Jan 20 (Tierramérica) (IPS) - The development of the green economy is the subject of pitched debate among specialists. While some believe it will deepen social inequalities and increase corporate control over natural and biological resources, others highlight its potential role in protecting the environment and creating employment.

In its study "Who Will Control the Green Economy?", published Dec. 15, 2011, the ETC Group argues that the development of a green economy will primarily benefit large corporations, unless changes are made to the current models of production and consumption of goods and services and international governance.

It reveals that large transnational corporations in the energy, pharmaceutical, food and chemical industries are already forming alliances to exploit biomass and grab control of natural resources like land and water.

The study takes a specific look at a range of different sectors, including synthetic biology, bioinformatics and genome data generation, marine and other aquatic biomass, seeds and pesticides, plant gene banks, fertiliser and mining industries, forestry and paper, the animal pharmaceutical industry and livestock genetics. The United Nations Environment Programme (UNEP) defines the green economy as "a system of economic activities related to the production, distribution and consumption of goods and services that result in improved human wellbeing over the long term, while not exposing future generations to significant environmental risks and ecological scarcities."

The green economy will be a central theme at the United Nations Conference on Sustainable Development (Rio+20 ), taking place Jun. 20- 22 in the southern Brazilian city of Rio de Janeiro, 20 years after the first Earth Summit held in the same city in 1992.

The objective of the conference is to secure renewed political commitment for sustainable development, assess the progress to date and the remaining gaps in the implementation of the outcomes of the major summits on sustainable development, and address new and emerging challenges Rio+20 will focus specifically on two themes: a green economy in the context of sustainable development and poverty eradication, and the institutional framework for sustainable development. (END/2012)