Mainstreaming sustainability, opportunities & conflicts
The Challenges
Case Study - In the context of managing the challenges facing us today, there will be instances where short-term economic needs continue to conflict with long-term concerns. Principles of sustainable development should be employed to accommodate conflicting needs, and to develop policies that will avert future disputes.
Short-term economic needs can conflict with long-term concerns...
There are ways in which economic policy instruments can be used to address immediate economic needs, whilst simultaneously contributing to averting problems in the longer term: so-called 'win-win' scenarios.
But what when these dual concerns, to address immediate and future needs, diverge? International economic decision-making is failing to provide the kind of inclusive and deliberative process that is needed if we are to manage the implications of such divergences.
How should legitimate policy objectives be decided?
For instance, some multilateral environmental agreements (MEAs) allow countries to ban imports of specific products, such as endangered species or ozone depleting substances.
In some cases, restrictions may be imposed to protect consumers from products that could be environmentally damaging or dangerous, such as some chemical products.
On the other hand, environmentally friendly imports may be restricted in order for competing countries to protect their domestic industry. How should decisions be made about whether such practices, and the policy objectives that they seek to promote, are legitimate?
Incorporating sustainable development principles in economic decision making...
The challenge is for policy makers to find ways to effectively incorporate principles of sustainable development into decision-making and dispute resolution. Averting and resolving such disputes will require the involvement of institutions with expertise extending beyond that offered by the WTO.
