There are probably few optimistic about the global economy at this moment, in particular the EU and the US (although Warren Buffet is apparently one…), but crisis can lead to positive change. I hope that the crisis can lead to fundamental changes to systems that are no longer serving us well with a new emphasis on sustainable profits with a view on responsible growth considering environmental, social as well as economic factors.
In line with this, a report on greening the Icelandic economy recently came out with proposals towards the aim of placing Iceland at the forefront of green economies with emphasis on a clean environment, sustainable energy, innovation and education. Iceland was hard hit in the 2008 crisis but seems to be on a steep recovery path. There is a large public demand for fundamental changes towards a more humane financial and corporate systems with emphasis on transparency and equality.
One of the principles in the this green economy is the precedent that the state should set in terms of sustainability initiatives. Examples include responsible procurement policies, mandatory sustainability reporting of state owned companies (goal of 80% reporting in 2014) and implementation of ISO 14000 environmental management standard. Aid for green start up firms is proposed in the form of funds supported partially by the state. The report was prepared by a dedicated parliamentary committee and will doubtlessly be debated shortly in the parliament.
