(Excerpts from a statement by Maurice F. Strong, delivered to theSpecial United Nations General Assembly Event on Rio+20, New York, October 25th, 2011)
“Time precludes my elaborating on the various actions that could be taken at Rio+20 which would make it a major milestone on the pathway to sustainability. As most of these have already been raised at the High-level Symposium in Beijing and the Delhi Ministerial Dialogue in New Delhi, I will note them only briefly here.
Objective evaluation by civil society organizations in each country of their performance in implementing their commitments at the Earth Summit and other fora;
Establishment of a process of continuing assessment of the performance of each country in its implementation of past commitments and accountability for them. This should lead to a system in which countries which fail to meet their commitments are subject to penalties and sanctions.
Establishment of an investment instrument in the form of “Earth Bonds” to be purchased by private sector foundations, funds and individuals, for investment in sustainable development projects, principally in developing countries; The World Bank’s initiative in issuing Green Bonds to finance climate change projects provides a useful precedent. The World Bank and/or its private sector affiliate the International Finance Corporation could also be the issuers of the Earth Bonds. They and the regional development banks could initiate and manage projects funded by the Earth Bonds. A high level group of experts is now developing the proposal.
Agreement to establish a system based on Principles 21 and 22 agreed at the Stockholm Conference in 1972 through which victims of environmental damage in one country resulting from development in another country can seek legal recourse and compensation for the damages they have suffered.
Under today’s conditions, this and other measures that I am raising will be deemed unrealistic. But denial cannot change the reality, only increase its dangers. What seems unrealistic today will become inevitable tomorrow, too late to change. The need for such actions is real and urgent. Rio+20 cannot do it all but it can and must set these processes in motion and give them the support and impetus they require.”
via Maurice F. Strong.