Working Group on Economic and Regulatory Instruments for Environmental Management

(Participants from Bolivia, Chile, El Salvador, Jamaica, Peru, USA and Venezuela).

The working group on Economic and Regulatory Instruments for Environmental Management outlined an action plan based on the ideas considered crucial for the hemisphere. The group acknowledged that the theme of environmental management instruments is a relatively new concept, not yet fully developed in the hemisphere.

The working group discussed the importance of identifying specific relevant environmental policy instruments, as well as related commercial and agricultural policy instruments. The group stressed the importance of identifying current legislation in the region that successfully blends regulatory with economic approaches. They proposed to create a group of experts, working through National Focal Points and the OAS Secretariat, to analyze the legislation and relevant environmental policies. As a result of the analysis, a study could be published in the Internet, quoting the most successful cases and experiences of countries in the region.
Another activity that the group proposed is the analysis of the environmental management instruments by means of studies and seminars. Again, the working group recommended that the outcome of these seminars be published in the Internet.

Another relevant theme for the working group was the development of environmental legislation and the strengthening of institutional training through workshops and seminars organized by FIDA. The training would include specific subjects, such as eco-labeling and voluntary instruments, and which could be developed over time based on the research and analysis conducted by the proposed working group.

The working group discussed the need to organize a long-term inter-American dialogue on investment and environment, through public meetings, to obtain a productive exchange of ideas.
FIDA could serve as a liaison between the countries in order to facilitate the realization of the proposed activities and the dissemination of the results.

The timeframe for the realization of the objectives and proposed activities was divided in short, medium and long term, considering short term as 6 months, medium as one year and long term as two years. For example, the working group determined that the website could be created in 6 months, while the workshops and seminars could be organized in one year and the publication of the results, studies and analysis could be done in 2 years.

The participants concluded that environmental management instruments are an important mechanism to create incentives for reducing environmental contamination. At the same time, these instruments will depend on efficient monitoring mechanisms and a basic system of penalties for those that violate environmental laws and policies.