16 March 2012: In a speech to the Workshop on the Rio+20 High Level Conference – Debate on Green Economy, Janez Potočnik, the European Commissioner for the Environment, has called for a transition to a green economy, underscoring that the concept is as much about economic growth, poverty eradication and social justice as it is about the environment.

Potočnik emphasized that an economy based on intensive resource use is not sustainable into the future, stressing that “there will be no growth if it is not green growth.” He identified three elements of a green economy: ensuring prices reflect the externalities of resource use; engaging the private sector to ensure improvements in resource productivity; and providing clear and predictable regulatory and non-regulatory signals to encourage the right investment decisions.

He called for the UN Conference on Sustainable Development (UNCSD, or Rio+20) to: consider how the elements of sustainable development – social, economic and environmental – can be addressed by the green economy; establish global objectives and targets, particularly on oceans, sustainable energy, improved water efficiency, stopping land degradation and loss of ecosystems, and reducing waste; ensure tangible outcomes; and ensure capacity to implement actions on the ground. [EC Press Release]