Future Perfect

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] 179

ustainability

olicies

, P

rogrammes

and

their

conomic

mpact

The second transformation requires that production systems

become more efficient (that they produce more while consuming less)

and that the impact of the man-made infrastructure that is needed to

realize their market values is minimized, mitigated or compensated.

Production systems and infrastructure should be well planned follow-

ing the best benchmarks available and constrained by the protected

area network that protects the region’s critical natural capital.

For the third transformation, markets for ecosystem services must

be created or expanded following a sustainable path, and incentives

adopted to correct potential market failures. The values of the neces-

sary ecosystem services to a specific product have generally not been

incorporated in the prices, as they are perceived to be free of charge.

Initiatives such as payment for ecosystem services for freshwater and

carbon, as well as green taxes, are the first steps towards the recogni-

tion of monetary values for nature’s services by national societies.

The fourth transformation requires the progressive reduction – and

eventually the complete elimination – of the aggregate consumption

of products that are not produced following the best sustainability

standards available. The power of consumers is immense and has not

been adequately used to promote transformational changes to how

the markets operate. In a country whose government is an important

consumer, legislation supporting only the purchase of sustainable prod-

ucts by governmental organizations can quickly promote the incentives

that sustainable products need to become competitive in the market.

For the fifth transformation, financial resources coming from indi-

viduals, corporations and government must be directed mostly at

sustainable economic activities. Developed countries should make

sure that overseas development aid is used to maintain critical

natural capital and support the emergence of sustainable

economic activities, rather than to support the traditional

development models that have failed everywhere. The

private sector should incorporate social and environ-

mental safeguards in its investments above and beyond

the requirements of national legislation. Global stand-

ards built by different stakeholders working together

will certainly put some constraints on how investment

flows circulate around the world and which activities

they support.

The sixth transformation is one that assumes that HSEs

require a positive societal relationship with nature’s values

and effective governance of ecosystem services. As a conse-

quence, societies need to develop new and innovative

social agreements that define how ecosystem services will

be valued and managed. To be effective, these agreements

should define in simple terms:

• How the values of ecosystem services will be

incorporated in national accounts

• Who will own or have the rights to use ecosystem

services

• The process and tools that will be used by societies

to make decisions on the management of ecosystem

services.

All this must be done while taking into consideration

the interests of all stakeholders, particularly the most

vulnerable sectors of society.

Cajas Park, southern Ecuador, 2007. Healthy, sustainable economies depend on natural ecosystems