Sri Lanka proposes new World Bank

(December 16, Colombo, Sri Lanka Guardian) Sri Lanka's Environment and Natural Resources Minister Patali Champika Ranawaka has stressed the need for a new set of parameters and guidelines to measure development and overhaul the archaic, obsolete old set of yardsticks which only went on to give a false sense of prosperity to a handful of industrialized countries.

He said these nations more often than not caused irreparable damage to the planet in their efforts to reach material prosperity.

He noted:

"They plundered the resources of other countries, squandered the carbon quotas of dozens and dozens of environment – friendly nations like ours. Through exceeding their own quota in emissions, the industrialized countries have exploited not only the rights of the developing countries, but also the rights of the unborn in both worlds."

The minister made these observations at the United Nations Climatic Change conference at Poznan, Poland on Saturday December 13. The confab was held with the aim of making a clear international commitment to an effective global response to climate change, to be agreed upon in Copenhagen at the end of 2009. Participants agreed that the first draft of a concrete negotiating text would be available at a UNFCCC gathering in Bonn in June of 2009.

Following is the full text of the minister's speech.

"With the hope that all of us at COP14/MOP4 will make the much expected contribution to the clarion call for the protection of mother earth, on behalf of the government of Sri Lanka let me extend my greetings and well wishes to the Polish government, the mayor and the people of the charming city of Poznan, for hosting this UN Climatic Change conference.

As we busy our selves with the task of creating a successor for the Kyoto protocol in the run up to Copenhagen, let me remind that I take pride in the fact that I represent a country that with its 0.6 Mt annual per capita carbon emissions has a long way to go before reaching the ceiling 2.1 Mt of CO2 eq. As at present, 82 countries world wide exceed this threshold level of per capita emission.

I represent a country which has no intention of exhausting the quota for the simple reason that we love this mother earth to core and we do not want see an end to the existence of human race on this planet. And we take pride in the fact that we are making this sacrifice at a time so many industrialized countries have selfishly and ruthlessly plundered the carbon quota of other countries and made this earth a less healthy place for all of us.

While humbly taking the moral high ground on carbon emissions, as the Minister of Environment and Natural Resources of Sri Lanka let me propose to introduce a new set of parameters and guidelines to measure development and overhaul the archaic, obsolete old set of yardsticks which only went on to give a false sense of prosperity to a handful of industrialized countries. More often than not these nations caused irreparable damage to mother earth in their efforts to reach material prosperity. They plundered the resources of other countries, squandered the carbon quotas of dozens and dozens of environment – friendly nations like ours. Through exceeding their own quota in emissions, the industrialized countries have exploited not only the rights of the developing countries, but also the rights of the unborn in both worlds.

The aim of Sri Lanka's proposal is to address the inadequacies of the old set of yardsticks used by the UN to gauge development, sans the environment aspect.

Therefore, we propose to use a new index with more appropriate parameters such as per capita and total carbon emissions of a country and an ecological index to showcase the state of the world with the impact of human activity on it.

After an exhaustive and well documented study the Ministry of Environment and Natural Resources of Sri Lanka has launched the world's first Sustainable Development Index (SHDI). Brazil leads world's first SHDI closely followed by Sweden and Bolivia in the second and third places respectively. Norway is in the 10th slot and Australia is one slot behind them. The United Kingdom is placed 55th placed and you have India four places behind. Right behind India, are Pakistan and Nepal. The United Sates of America which has occupied 12th slot in the Human Development Index is placed 94 in the Sustainable Human Development Index.

In order to remedy the grave injustice caused to environment- friendly nations by the over-ambitious nations, may we propose that the errant nations pay their dues in the form an environment debt they owed to present and future generations of the affected countries.

While the SHDI prepared by Sri Lanka throws light on nations that have conducted irresponsibly in this regard, we propose that we do a proper study to estimate their environment debt and kick off a comprehensive compensation programme. Such an attempt will ensure environmental justice for the wronged – in the present and the generation yet to be born.

Before concluding let me also reiterate that at this juncture we need a paradigm shift in the approach of the World Bank (WB)/International Monetary Fund (IMF) which was founded in 1945, some 63 years ago. The pronounced aim of the WB at the time of the formation was assisting countries affected by World War 2, which itself was a direct repercussion of the economic recession of 1929. However to this date World Bank/IMB has not been able to counter allegations that it was set up to further the business interests of the United States.

We have come a long way since 1945.

Now we are again on the verge of an economical crisis, and in order to survive this, short term capital infusions will not be of much use.

The battle lines have completely changed. The war affected nations have raised their heads too ambitiously, impoverishing a new set of countries.

There are new issues, new challenges and new battles. We are witnessing a complete realignment of global power politics.

Today we have a black gentleman as President-elect of the United States and entire world placed on red alert with the fast aggravating, grave threats to ecology.

None of these were envisioned in 1945 when the World Bank was formed. Now we are witnessing a second economic recession. It is clear that Short term capital infusion in this crisis will not serve any purpose.

Therefore, we expect a change of the WB/IMF role in the CTF at the Copenhagen conference since it has been proven beyond doubt that WB/IMF is investing heavily on Coal-fired power plants.

Sri Lanka is therefore proposing the setting up of a new Bank, a Global Sustainable Development Bank to reverse this lethal trend and put the human race back on the right track."

At Poznañ, the finishing touches were put to the Kyoto Protocol's Adaptation Fund, with Parties agreeing that the Fund would be a legal entity granting direct access to developing countries. Progress was also made on a number of important ongoing issues that are particularly important for developing countries, including: adaptation; finance; technology; reducing emissions from deforestation and forest degradation (REDD); and disaster management.

The next major UNFCCC gathering will take place next from 29 March to 8 April next year in Bonn, Germany. - Sri Lanka Guardian