For the past decade or so, there has been a lot of debate in policy circles on how to get governments and the private sector to work together more collaboratively in order to catalyse the transition to green growth. The good news is that in that time many factors have come together to make this more of a reality. Governments, including in developing countries, are increasingly committed to a low-carbon future; there is, in theory, adequate capital available to finance the transition; and there has been a recent boom in the technology needed to make green growth more affordable and feasible.
The missing element, then, is better co-ordination and cooperation between the private sector and governments to make this possible. In order for that co-operation to be most effective and efficient, both groups need to take some crucial steps on their own. Fundamentally, however, without sufficient political will on the part of governments and long-term thinking and commitment on the part of private-sector actors, transitioning to a low-carbon economy will be difficult if not impossible.
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©OECD Yearbook 2015
2015 OECD Yearbook
2015 OECD Forum