7 February 2012: The Organisation for Economic Co-operation and Development (OECD) has published an article by its Secretary-General, Angel Gurría, titled “Green Growth: Making it Happen,” explaining why green growth should be seen as a new source of growth in hard economic times.

Gurría begins by stressing that green growth is not meant to supplant sustainable development, but rather is a “practical and flexible approach for making progress along the economic and environmental dimensions of sustainable development, while taking full account of the social consequences of greening the growth dynamics of our economies.” Green growth offers developing countries and emerging-market economies the opportunity to leapfrog over unsustainable modes of production and consumption, he says.

Gurría also notes that, while green growth strategies must be country-specific, there are common green growth policy “ingredients,” including: a price on carbon; phasing out of inefficient subsidies; promotion of green innovation; and de-risking green investments to encourage expansive private capital investment. He warns that protectionist interests can hamper investment in green growth, and that attention must be paid to improve coherence between investment and environmental goals.

Finally, the article draws a connection between green growth and the UN Conference on Sustainable Development (UNCSD, or Rio+20). According to Gurría, the Conference provides a window of opportunity to lay the foundations of a stronger, cleaner and fairer world. Green growth, he writes, will be key to coming up with “concrete, workable solutions” to this end. [Publication: Green Growth: Making it Happen]