Local view for "http://purl.org/linkedpolitics/eu/plenary/2002-09-25-Speech-3-030"

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"Mr President, politics works in such a way that, after each international meeting, we spend more time talking about the results that are, apparently, still unsatisfactory than about the actual progress that was made. This is what happened after Rio, this is what happened after Kyoto, even though, in the meantime, Rio and Kyoto became undeniable milestones in the area of sustainable development. The concept of sustainable development has become a chant, a sort of enchanted prayer that is uttered indiscriminately. In my view, it is obvious that there can be no sustainable development without economic and social development – it is as simple as that. Poverty is the major enemy to managing natural resources and protecting the environment in a responsible manner. Responsible globalisation must become the process of a global economic development that makes genuine global solidarity possible. State development aid is not sufficient, even if we manage to double or triple it. USD 50 billion of state aid is not much. Americans spend the same amount of money on the upkeep of their lawns! In 2001, a year that did not bode well for international investment, private investment flows towards developing countries amounted to over USD 200 billion, in other words already four times more than the total state aid. For private investment to reach all countries, we must, as a necessity, negotiate a multilateral agreement on investment protection, which involves creating international arbitration bodies responsible for resolving disputes. No private investor – no ethical investment fund, even – will invest any money without guarantees and without the prospect of a return. In the absence of any multilateral rules, there will be an avalanche of bilateral agreements. There are already more than 1 200! Yet, in all bilateral agreements, it is not the poorest partner who dictates the conditions. Sustainable development needs global standards, and these standards are also needed for investments and for their protection."@en1

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