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ECONOMIC INSTRUMENTS FOR ENVIRONMENTAL …
ECONOMIC INSTRUMENTS FOR ENVIRONMENTAL MANAGEMENT AND SUSTAINABLE DEVELOPMENT Page 1 UNITED NATIONS ENVIRONMENT PROGRAMME (UNEP) Environment and Economics Unit (EEU) ECONOMIC INSTRUMENTS FOR ENVIRONMENTAL MANAGEMENT AND SUSTAINABLE DEVELOPMENT by Theodore Panayotou International Environment Program Harvard Institute for International Development Harvard University December, 1994 Prepared for the United Nations Environment Programme's Consultative Expert Group Meeting on the Use and Application of ECONOMIC Policy INSTRUMENTS for ENVIRONMENTAL Management and Sustainable Development, Nairobi, February 23-24, 1995 ENVIRONMENTAL Economics Series Paper No.
and victim of environmental degradation, where natural resource exploitation is the engine of growth, where formerly planned economies struggle to restructure and recover, imposing constraints on economic activity to protect the environment for its own sake rather than as an input in sustainable development has very limited appeal.
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