The Rio+20 UN conference on sustainable development is over. The conference declaration, titled “The Future We Want”, is a weak and meaningless document. It aims at the lowest common denominator consensus to say it all, but to say nothing consequential about how the world will move ahead to deal with the interlinked crises of economy and ecology. Is this the future we want or the future we dread?
2011’s person of the year, according to Time magazine, is “the protester”. Clearly, this is the image that has captured the world—from dissent against the lack of democracy and repression in large parts of West Asia to anger against economic policies in vast and disparate parts of the world. People, all over, are saying enough is enough. But what will happen to these voices in the coming years? Will the movements of protesters be enough to change the way the world runs its business? Do these movements even know what they want?
Now that Europe’s debt crisis is unfolding all around us, shouldn’t we question why the world is determined to live beyond its means and not worry how it sabotages our common future? The debt crisis is a mere symptom of a deeper malaise. The fact is that countries, private companies and individual households can run only if they can borrow against their assets and hope that the debt will grow slower than the value of their asset. Most financial analysts will now tell you that this business is doomed because of the Ponzi scheme nature of the loan business, where borrowing is used to speculate to get more loans and so repayment becomes difficult and over time impossible.
Next year, in June, world leaders will get together in the joyful city of Rio de Janeiro, Brazil, to mark 20 years of UNCED—the Earth Summit (see Down to Earth, May 15, 1992).
Industry sees sense in going green
Date: Dec 2010
Top News is a compilation of important environmental news topics selected by environmental experts from the Asia-Pacific region as well as by international organisations and research institutes from twenty-one countries in the region.