São Paulo – This Wednesday (13th), the ambassador Luiz Alberto Figueiredo, chief negotiator for Brazil at the United Nations Conference for Sustainable Development, Rio+20, stated that the developing nation group G77+China has presented a proposal to establish a US$ 30 billion fund to finance sustainable development.
At a press conference held in Rio de Janeiro, Figueiredo said the proposal has been presented by the 132 poor and emerging countries that comprise the G77, during negotiation rounds for the conference in New York early this month. Brazil, China, Chile, Algeria, Argentina, Egypt, Lebanon, Kuwait, Mauritania and Saudi Arabia are some of the countries in the bloc.
Machado did not provide details regarding the proposal, but said it can help the countries move forward in the negotiations for the final document, which will be signed by heads of state at the summit scheduled to take place from June 20 to 22. One of the obstacles to the negotiation is the way in which the sustainable projects will be financed and implemented.
“The G77+China group has the idea to establish a US$ 30 billion sustainable development fund. This is a proposal that counts on the group’s backing and is part of the negotiation underway,” said the ambassador.
The “zero draft,” a document comprising the proposals of participants and which provides the basis for the negotiations, provides that emerging countries must have access to financing in order to promote sustainable development in their territories. The document advises for financial institutions such as the World Bank, the International Monetary Fund (IMF) and regional development banks to support green economy initiatives.
Rousseff calls for commitment
In her opening address at Pavilion Brazil at the Rio+20, which features an exhibit of Brazilian federal government projects and will host debates, president Dilma Rousseff said all countries must make commitments for sustainable development, especially the wealthy ones. She said concern over the issue must not be limited to times of economic stability, in a reference to the Eurozone crisis.
“A pro-growth stance of preservation and conservation is intrinsic to the notion of development, most of all amidst crises,” she said. She also said sustainability is one of the “axes of our notion of development.” Dilma should return to Riocentro, the pavilion in which most of negotiation and discussion at the Rio+20 takes place, from the 20th to the 22nd this month, when all heads of state attending the conference will meet.
*Translated by Gabriel Pomerancblum
