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## Green Growth Declaration of OECD

In June 2009, the OECD Council Meeting at Ministerial level declared that OECD countries strengthen efforts to pursue green growth strategies and encourage green investment and sustainable management of natural resources. The ministers also expressed their resolve to make further efforts to use “efficient and effective climate policy mixes” and encourage “domestic policy reform,” with the aim of avoiding or removing environmentally harmful policies that might thwart green growth, such as subsidies. Further, the Ministers invited OECD to “develop, as a horizontal project, a Green Growth Strategy in order to achieve economic recovery and environmentally and socially sustainable economic growth.”

## Declaration on Green Growth (Excerpt)

WE, THE MINISTERS REPRESENTING THE GOVERNMENTS of Australia, Austria, Belgium, Canada, Chile, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Israel, Italy, Japan, Korea, Luxembourg, Mexico, the Netherlands, New Zealand, Norway, Poland, Portugal, the Slovak Republic, Slovenia, Spain, Sweden, Switzerland, Turkey, the United Kingdom, the United States and the European Community:

## CONSIDERING that:

1. Economic recovery and environmentally and socially sustainable economic growth are key challenges that all countries are facing today ... Green growth will be relevant going beyond the current crisis, addressing urgent challenges including the fight against climate change and environmental degradation, enhancement of energy security, and the creation of new engines for economic growth. The crisis should not be used as an excuse to postpone crucial decisions for the future of our planet.

2. In order for countries to advance the move towards sustainable low-carbon economies, international co-operation will be crucial in areas such as the development and diffusion of clean technologies, for example carbon capture and storage, renewable energy technologies, and application of green ICT for raising energy efficiency, and the development of an international market for environmental goods and services …

## DECLARE that we:

4. STRENGTHEN our efforts to pursue green growth strategies …, acknowledging that “green” and “growth” can go hand-in-hand.

5. ENCOURAGE green investment and sustainable management of natural resources. In this respect, we are resolved to make further efforts to use efficient and effective climate policy mixes, including through market-based instruments, regulations and other policies … We will consider expanding incentives for green investment, in particular in areas where pricing carbon is unlikely to be enough to foster such private sector responses … Approaches to recognize the value of biodiversity should be encouraged … We are resolved to share information on green investment flows and policies, and best practices.

6. ENCOURAGE domestic policy reform, with the aim of avoiding or removing environmentally harmful policies that might thwart green growth, such as subsidies: to fossil fuel consumption or production that increase greenhouse gas emissions; that promote the unsustainable use of other scarce natural resources … We also work towards establishing appropriate regulations and policies to ensure clear and long-term price signals encouraging efficient environmental outcomes …

7. ENSURE close co-ordination of green growth measures with labor market and human capital formation policies

8. STRENGTHEN international co-operation. In this respect:

8.1. We recognize that special efforts need to be made at the international level for co-operation on developing clean technology ..., fostering market mechanisms, and augmenting, streamlining and accelerating financing and other support to developing countries in their fight against climate change and the loss of biodiversity, and support in their water management ...

8.2. We are resolved to make every effort to reach an … international post-2012 climate agreement at COP15 in Copenhagen in December 2009, by which all countries will take measurable, reportable and verifiable nationally appropriate mitigation commitments or actions as well as adaptation actions …

## I NVITE the OECD to:

9. DEVELOP, as a horizontal project, a Green Growth Strategy in order to achieve economic recovery and environmentally and socially sustainable economic growth ... The Strategy will analyze green growth measures in OECD as well as in major non-member countries, ... An interim report on the progress should be delivered to the 2010 MCM.