sustainable development 20 years on from the ... - JosÃ© Eli da Veiga

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<strong>20</strong>9 In Central America and the Caribbean in <strong>20</strong>10, debt-to-GDP ratios reached high levels in some countries, such as Jamaica (104%), Grenada (99%), Belize (80%), Nicaragua (77%) and Dominica (73%), limiting their capacity to allocate resources for social and environmental purposes. Medium-to-long-term actions on the external debt are needed to enable countries to design <strong>sustainable</strong> <strong>development</strong> strategies, and not fall hostage time and again to the constraints of available resources for environmental and social protection. Debt-for-nature swaps have been implemented in this context, 7 albeit with faltering intensity since <strong>20</strong>02. Although this type of swap has done little to alleviate the debt of developing countries, in some cases the amounts forgiven have been significant and have allowed more national resources to be allocated to conservation. For example, the nominal value of a swap made between El Salvador and the United States in 1992 represented 5% of El Salvador’s GDP, and made it possible to allocate resources equivalent to 0.5% of GDP to the environment. 5. Innovative mechanisms The Monterrey Consensus recognized the “value of exploring innovative sources of finance” (United Nations, <strong>20</strong>02, paragraph 44) thereby giving rise to what has become a broad-scope initiative to conceive and implement new mechanisms to help countries of different <strong>development</strong> levels attain the Millennium Development Goals. The experimental phase of that initiative can be considered concluded. Such financing sources currently include initiatives ranging from voluntary contributions and market mechanisms to loan guarantees, in addition to various proposals for new taxes. A second group of initiatives includes mechanisms that aim to use available resources in an innovative way, improving allocative efficiency, participation, transparency, and capacity to be held accountable for use. A third and broader category includes initiatives to obtain resources from innovative sources and also use them with mechanisms that depart from more traditional financial practices, by combining with service provision and, at times, the supply and distribution of goods. Some of the initiatives already underway are stable and long-term, and at the same time make it possible to supplement official public assistance, with the stated purpose of distributing the benefits of globalization more widely (United Nations, <strong>20</strong>09). The rapid spread of the concept of innovation in this area is making it applicable to different entities, such as thematic trust funds, public guarantee mechanisms (both shared and solidarity-based), insurance and risk-transfer mechanisms, proposals for international cooperation on tax mechanisms, the issuance of securities and bonds linked to growth or the reduction of greenhouse gases, countercyclical lending and microfinance, among others. One of the main characteristics of innovative financing is its emphasis on developing broad participation by entities other than national governments, and on addressing market failures, for which the International Finance Facility for Immunization (IFFIm) is an example. 7 The most recent of these swaps have been signed between Colombia and the United States, The Nature Conservancy (TNC), and the World Wide Fund for Nature (WWF) in <strong>20</strong>04; between Paraguay and the United States in <strong>20</strong>06; between Ecuador and Spain in <strong>20</strong>05; and between Guatemala, the United States, Conservation International and the TNC, for conservation of the Guatemalan tropical forest, in <strong>20</strong>06.
210 Innovative financing mechanisms for <strong>sustainable</strong> <strong>development</strong> currently include the following: rents and special drawing rights associated with climate-change mitigation; taxes on monetary transactions; auctions of emission rights, and carbon taxes. Other current mechanisms include the Clean Development Mechanism (CDM); the Climate Change Adaptation Fund; payment for environmental services and, in general, trust funds, such as the REDD Investment Fund of Guyana; the Green Bond (Bono Verde) of Costa Rica; the National Climate Change Fund of Brazil; and the Yasuni ITT Trust Fund of Ecuador. Mechanisms specifically associated with the health sector also include the International Drug Purchase Facility (UNITAID) (an air ticket solidarity contribution); the Global Fund to Fight AIDS, Tuberculosis and Malaria (GF); the International Finance Facility for Immunization (IFFIm); the advance market commitment; and the Debt2Health initiative. 6. Emerging cooperation and South-South financing South-south cooperation is one of the most attractive features of the recent trend in mobilizing possible funds to adopt <strong>sustainable</strong> <strong>development</strong> paths. This type of cooperation is steadily growing in importance although it does not yet account for 10% of global assistance flows (United Nations, <strong>20</strong>11). It differs from traditional <strong>development</strong> assistance channels in that it has no political conditionalities, establishes horizontal linkages and, frequently, has a high level of complementarity between the cooperating parties. Over 90% of south-south cooperation still targets project financing, although budgetary support and debt sterilization are starting to account for an increasing share of the total. There are also philanthropic activities, aimed mainly at social and rural <strong>development</strong> and micro-financing. Technical cooperation is also gaining ground, as is humanitarian assistance, which is starting to expand rapidly. 7. Remittances Remittances are a major source of financing in the region (see map V.1), and are essential for the most deprived domestic economies. In <strong>20</strong>10, total remittances stabilized at US$ 58.9 billion, after falling sharply in <strong>20</strong>09 in the wake of the crisis that erupted in late <strong>20</strong>08 and affected the main countries that host Latin American emigrants (Hall, <strong>20</strong>10). This episode put a brake on the continuous growth of remittance flows over the last decade, which had increased from US$ 23.4 billion in <strong>20</strong>01, in other words four times the amount of net ODA received by the region in that year, to a maximum of US$ 69.2 billion in <strong>20</strong>08, equivalent to 7½ times ODA received. At the present time, the greater difficulty of finding employment and the lower wages in migrantreceiving countries, which affect the flow of remittances sent home, has been compounded by currency appreciation, particularly in relation to the dollar, in the migrants’ home countries. This is aggravated further by local inflation, which reduces the purchasing power of the remittances sent to the region still further (Maldonado, Bajuk and Hayem, <strong>20</strong>11). On the other hand, whereas prior to <strong>20</strong>00 the average cost of sending remittances to Latin America and the Caribbean was about 15% of the value of the transaction, today it is roughly 5.6% (Hall, <strong>20</strong>10) —a figure which, although it may seem acceptable, amounts to 36% of the ODA received in the region in <strong>20</strong>09.
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SUSTAINABLE DEVELOPMENT 20<
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Alicia Bárcena Executive Secretary
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4 8. Protection of fishery resource
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6 Table II.1 Ratification of multil
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8 Figure V.7 Figure V.8 Figure V.9
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11 FOREWORD In December 20<
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13 INTRODUCTION The United Nations
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15 The Rio Declaration contains 27
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17 Box 2 (concluded) 24 Warfare is
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19 this regard, the International C
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21 The dynamic on which these data
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23 Bibliography Acquatella, J. and
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26 inequality, access to basic serv
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28 Figure I.3 LATIN AMERICA AND THE
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30 air (see the section on health),
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36 The problem of unreliable servic
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38 Figure I.11 LATIN AMERICA AND TH
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40 Concerning tenure, certain struc
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42 Thanks to the improvements in wa
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44 One of the greatest health risks
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46 In Latin America and the Caribbe
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48 Figure I.14 UNDERNUTRITION AND O
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50 Generally speaking, national hea
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52 covered by existing retirement s
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54 Box I.3 MAINSTREAMING DISASTER-R
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56 patterns in Latin America, with
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58 In fact, despite achievements ma
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60 The second productivity feature
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62 for groups that are usually bypa
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64 Figure I.18 LATIN AMERICA AND TH
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66 2009). In addit
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68 production will, however, height
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70 Lastly, climate factors are also
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72 C. ENERGY: ENERGY INTENSITY, EFF
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74 Fuel subsidies for private vehic
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76 Table I.9 LAWS FOR THE PROMOTION
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78 reduction must also be mainstrea
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80 Box I.7 URBAN SUSTAINABILITY IN
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82 Box I.8 THE ECO-EFFICIENCY OF UR
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84 Figure I.21 SELECTED COUNTRIES:
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86 E. STRENGTHENING THE STATE AND A
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88 Bibliography Acquatella, Jean (<
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90 Fresco, Louise (20</stro
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92 Perroti, D.E. and R. Sánchez (<
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94 (2010b), Achiev
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96 Table II.1 RATIFICATION OF MULTI
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98 Box II.1 (concluded) Union of So
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100 Table II.3 LATIN AMERICA AND TH
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102 The same applies to the incenti
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104 Figure II.1 LATIN AMERICA AND T
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106 Box II.2 LATIN AMERICA AND THE
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108 Figure II.3 SHARE OF GLOBAL GRE
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110 Figure II.7 PER CAPITA CO 2 EMI
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112 Figure II.10 CARBON INTENSITY O
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114 Table II.4 LATIN AMERICA AND TH
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116 coast and in marine areas, the
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118 Box II.4 CENTRAL AMERICA: BIODI
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120 25 Figure II.1
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122 The valuable assets related to
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124 monitoring have been instrument
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126 Box II.7 LATIN AMERICA AND THE
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128 technology transfer is successf
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130 Table II.6 AGRICULTURAL PRODUCT
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132 (a) Integrated water resources
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134 concessions, authorizations and
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136 water flows caused by land-use
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138 Climate change will exacerbate
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140 With regard to the safe recover
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142 MERCOSUR countries are implemen
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144 Unlike in the early 1990s, all
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146 Bibliography Acquatella, J. (<s
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148 Li, J. and M. Colombier (<stron
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150 WHO (World Health Organization)
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152 1. Statistics and indicators Si
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154 3. Technology and environmental
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156 2. Citizen participation in env
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Page 177 and 178: 176 Bibliography Acuña, G. (<stron
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Page 221 and 222: 220 1. Science and
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Page 225 and 226: 224 2. Scientific capacities and te
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Page 229 and 230: 228 IDB (Inter-American Development
Page 232 and 233: 231 Chapter VI GUIDELINES FOR ACHIE
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Page 240 and 241: 239 (f) Send proper signals to esse
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Page 244 and 245: 243 As part of the preparatory proc
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Page 248 and 249: 247 All of these initiatives seek t
Page 250 and 251: 249 (a) Reform curricula to include
Page 252 and 253: 251 (ii) Support initiatives to for
Page 254 and 255: 253 (b) For Latin America and the C
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