There is no shared understanding of the term ‘Green Economy’. In the context of Rio, it can be conceptualised as an economic system that functions to deliver optimal environmental, employment, and social outcomes. As economic growth and inclusiveness are inherent parts of this concept, it buttresses the related model of sustainable development.

Scientific support for ‘green’ economies is increasing, as these models can effectively address the gaps contained in current economic models. Even so, political support remains the main challenge. This is largely attributable to trade concerns, such as: 1. increased implementation cost and compliance complexity of ‘green’ norms, standards, and technical regulations; 2. investment challenges; and 3. trade competitiveness concerns.

Other issues include technology transfer (access and affordability) and IPR issues, as well as the possibility that progressing green economy measures may strain current multilateral trade and dispute settlement systems.

There is widespread agreement on the common ‘green’ goals of reducing pollution and natural resource depletion, and having a more equitable economic development. The following are steps that the public, industries, local and national governments and agencies, and international institutions can take to promote these ends:

1. Increased leadership at all levels (international, national, and public) to promote green growth.
2. Identification of public and private investment sources, coupled with a potential reworking of the present investment framework.
3. Viewing trade as advantageous to promoting the green economy, and increasing information sharing and harmonization.
4. Promoting innovation and technology transfer of environmentally sound technologies, including through the collection, use, and dissemination of bilateral and regional green development initiatives at the international level.