European Tribune - Comments - Is Sustainable Development sustainable?

Is Sustainable Development sustainable? | 47 comments (47 topical, editorial, 0 hidden)

Re: Is Sustainable Development sustainable? (4.00 / 2)

Spain is aiming to change its economic model away from construction and towards the "sustainable economy".

Salgado pide a los bancos y cajas 10.000 millones para el fondo de economía sostenible · ELPAÍS.com		Salgado asks banks and S&Ls for €10bn for the sustainable economy fund - ElPaís.com
La vicepresidenta segunda del Gobierno y ministra de Economía, Elena Salgado, ha clausurado el IX Encuentro Financiero Internacional organizado por Caja Madrid y EL PAÍS, acto en el que ha pedido hoy a los bancos y cajas que aporten el 50% del futuro fondo para la economía sostenible que se pondrá en marcha en 2010 y que ascenderá a 20.000 millones de euros. Cuando llegue la recuperación, ha afirmado Salgado, el sector financiero español deberá "redirigir la asignación de recursos hacia sectores sostenibles, es imprescindible su participación en el fondo".		[Spain's] Second Deputy Prime Minister and minister for the Economy, Elena Salgado, has closed the 9th International Financial Meeting organised by [S&L] Caja Madrid and El País, an event in which she asked banks and S&Ls to contribute 50% of the future Sustainable Economy Fund which will kick off in 2010 and will reach €20bn. When the recovery arrives, Salgado claimed, the Spanish financial sector will have to "redirect the resource allocation towards sustainable sectors, its participation it the fund is a requirement".
Salgado ha defendido el papel de la banca para superar la crisis, aunque ha añadido que su función "será también determinante en la recuperación". En ese momento, una fecha que los organismos internacionales fijan para el inicio de 2010, la ministra se ha mostrado confiada en que "todas las entidades estén en disposición de atender todas las demandas de crédito que se les presenten".		Salgado has defended the role of the banking sector in overcoming the crisis, although she has added that its function "will also be decisive in the recovery". At that time, a date that international organizations place in early 2010, the minister is confident that "all [Spanish banking] entities will be in a position to attend to all the demands for credit that will be presented to them".
Asimismo, ha añadido que el sector será "importante también para decidir la dirección del nuevo modelo productivo hacia una economía más sostenible redirigiendo la asignación de recursos". Es decir, dando préstamos a proyectos vinculados al cambio de modelo, participando en los proyectos de infraestructuras y, por otra parte, adoptando posturas que faciliten un "comportamiento menos cíclico del crédito en un futuro" y ayuden a eliminar la "volatilidad de la financiación" a través de la aportación de reservas.		As well, she has added that the [banking] sector will be "important to decide the direction of the new productive model towards a more sustainable economy by redirecting the allocation of resources". That is, by giving loans to projects linked to the change of model, taking part in infrastructure projects and, on the other hand, adopting a posture that "facilitates a less cyclical behaviour of credit in the future" and to help eliminate the "volatility in financing" through reserve contributions.

How much of this will turn out to be just greenwashing, I don't know.

A man of words and not of deeds is like a garden full of weeds; a man of deeds and not of words is like a garden full of turds — Anonymous

by Migeru (migeru at eurotrib dot com) on Wed Jul 8th, 2009 at 10:20:33 AM EST

Is Sustainable Development sustainable? | 47 comments (47 topical, 0 editorial, 0 hidden)

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