The Organisation for Economic Cooperation and Development (OECD) commits to assisting EECCA countries in accelerating policy reforms, including by devising regulatory and economic instruments. These instruments will strengthen the rule of law and compliance with environmental requirements that contribute to the greening of economic growth. The work would also include activities aimed at greening industry and strengthening the green growth measurement framework by using green growth indicators and other environmental accounting tools.
The commitment includes two main components. The first component includes efforts on promoting “smart’ environmental regulations, developing policy instruments to address challenges of urban air pollution, addressing environmental impacts of mining, and supporting the development of Extended Producer Responsibility (EPR) Systems. The second component includes efforts on measuring and assessing progress towards green growth in the EECCA region.
The commitment falls under overarching actions and focus areas 1 and 2 of the Batumi Initiative to improve the measurement and valuation of natural capital; and promote the internalisation of negative externalities and the sustainable use of natural capital.
Implementing partners will collaborate under EU funded EaP GREEN Project.
The commitment is relevant to SDGs 3, 7, 9, 11, 12, 13, and 17.