Reorient policies towards sustainable development: UN

At the conference “Sustainable Development Challenges in Asia” hosted in honour of His Majesty the King’s 70th anniversary of his accession to the throne, Stefanos Fotiou, Unescap’s director of environment and development division, stressed the need for policies that integrate the three dimensions, to address challenges that the global economy is facing. The challenges tend to rise further given an increasing number of middle-income earners.

“The efficient management of natural resources is at the centre of sustainable development as well as the Sufficiency Economy Philosophy. In Asia-Pacific, the management of natural resources must address three key challenges in the development context: First, the rising demand for natural resources and the ecosystem services that they provide; second, increasing inequality on the access to resources; and third, increased resource depletion.”

 

Impressive growth

Asia has registered impressive economic growth in the past decades, but income inequality has been on the rise in most nations while access to basic services remain limited. To Fotiou, these can be addressed with right policies as well as the governments’ openness to hear voices from civic societies in resource allocation.

In the next decades, he stressed the need for new infrastructure and the need to decouple impacts on the environment and financial resources, if the world is to achieve the 17 Sustainable Development Goals in 2030. Referring to a report by United Nations Conference on Trade and Development, he said developing countries globally need some US$2.3 trillion (Bt80 trillion) investment in science and technology and other areas to boost their trade potential and finance and investment infrastructure.

He admitted that the budget is huge, but it is only 3 per cent of the size of the global economy that is estimated at $80 trillion. The goals are achievable if countries reorient policies towards sustainable development, he said. This requires the creation of policies that encourage long-term well-being benefits, prevent violations to nature and financial capital, as well as change the mindset of institutions.

According to Fotiou, some countries have started to implement the SD goals in their economic development plans. Sri Lanka, for instance, has appointed a Sustainable Development Minister while some have established committees on sustainable development or set goals.

The UN is also scaling up its role in this regard, aiming to launch annual reports. It also seeks to focus on capacity building in countries that are facing challenges. In this regard, he praised His Majesty’s Sufficiency Economy philosophy for the marginal poor, hailing it as a right approach for the Thai government and companies operating in Thailand to achieve sustainable development.

“The Sufficiency Economy [philosophy] illustrates the power of value-based approaches, anchored strongly on Asian culture and values, and rooted in genuine respect for people and for nature, to influence choices and decisions at all levels – from the individual to the family, community and the national level.”

However, he noted that there is no recipe for all countries. Each will need their own model.

The one-day event was wrapped up with experiences from Bangladesh’s Yunus Centre, Taiwan’s Buddhist Compassion Relief Tzu Chi Foundation, and Thailand’s Mae Fah Luang Foundation.

In Bangladesh, social enterprises play a key role.

Yunus Centre’s Lamiya Morshed highlighted the successful sustainable business model, which now involves millions of the poor in Bangladesh. Starting with a loan to 42 people, Grameen Bank has extended $19 billion to over 8 million people. The social enterprise has widened its focus in cooperation with international companies like Danone, BASF and Intel. Now, it is encouraging children of their bank’s clients to become entrepreneurs.

Created by a nun, Buddhist Compassion Relief Tzu Chi Foundation is now extending medical services and humanitarian relief to the underprivileged in different corners of the world, operated solely with donations and by volunteers.

“The 17 SD goals are very easy and achievable, through loving and caring for all human beings,” said Monica Sy from the foundation.

Mae Fah Luang shared its success stories in reviving forests, leading to sustainable income for farmers in the areas. After years, more of the farmers’ children are now going to vocational schools and universities.

“Sustainable development can be implemented anywhere, not just Thailand,” said MR Disnadda Diskul, chairman of Mae Fah Luang Foundation. “The world is heading to a tipping point, on the verge of collapse. Mother Earth is not compromising and holding our children as hostages,” he warned.