Edited by Stephen Tully
Chapter 84: Additional initiatives
i. UNCED: Rio Declaration on Environment and Development, 1992 Commentary: One of the many positive and longstanding contributions made by business is the economic development of States: UNCTC (1988), TNCs in World Development: Trends and Prospects, New York. ‘Sustainable development’ is defined as development which meets the needs of present generations without compromising the ability of future ones to satisfy their own requirements: Brundtland, G. (ed.) (1987), Our Common Future: The World Commission on Environment and Development, Oxford: Oxford University Press (the Brundtland Commission). The Rio Declaration (see UNCED Report, UN Doc A/CONF.151/26 (1992) Vol I) builds upon the 1972 Stockholm Declaration from the UN Conference on the Human Environment, UN Doc A/CONF.48/14/Rev.1 (1973). Of the 27 Principles, Principle 16 provides that: ‘National authorities should endeavour to promote the internalization of environmental costs and the use of economic instruments, taking into account the approach that the polluter should, in principle, bear the cost of pollution, with due regard to the public interest and without distorting international trade and investment’. Also emanating from UNCED was the ‘Non-legally Binding Authoritative Statement of Principles for a Global Consensus on the Management, Conservation and Sustainable Development of All Types of Forests’, UNCED Report, UN Doc A/CONF.151/26 (Vol. III) (1992). See further, EC proposal for the development of a code of conduct for European logging companies COM(89)0410. For PVIs in this field, see the Forest Stewardship Council (FSC, www.fsc.org) and the FSC ‘Principles and Criteria’, Document 1.2 (1993) (revised 2000); American Forest and...
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