RESOLUTION EC 121

FORUM: ECONOMIC COMMITTEE

QUESTION OF: Measures to promote sustainable capitalism

SUBMITTED BY: Argentina

CO-SUBMITTERS:Iran, Sweden, Azerbaijan, Bahrain, Bosnia & Herzegovina, Cameroon, Chile, Cyprus, Jordan, Jamaica, Oman, Indonesia, Angola.

STATUSRejected

THE ECONOMIC COMMITTEE,

 

Noting that capitalism is significant in terms of economic growth and efficient resource allocation,

 

Reminding all nations of the Paris Agreement adopted by 196 Parties at COP 21 in Paris, on 12 December 2015 and entered into force on 4 November 2016 which aims to limit global warming by 1.5°C and encourage climate finance, 

 

Noticing with regret that along with innovation and economic expansion, capitalism is capable of causing harm to the environment, minorities, and the society,

 

Also recognizing that the usage of non-renewable resources such as oil, coal, and gas have contributed to the maximization of wealth and productive efficiency in economies along with industrialization, 

 

Regretting that depletion of resources, loss of species, pollution and climate change are among negative effects of capitalism, 

 

Stressing that sustainability is the key to maintaining a healthy capitalist system,

 

Defining that political ignorance and inaction work against sustainability and therefore prevent its success in capitalistic systems,

 

  1. Urges Member States to implement legislation relating to protecting against unsustainable practices in agriculture by:
    1. banning the usage of sewage sludge containing large amounts of heavy metals such as but not limited to cadmium, copper, nickel, lead, zinc, mercury and chromium
    2. establishing a fixed percentage on the amount of pesticides and other potentially harmful chemicals and the usage of persistent organic pollutants as they bio-amplify as well as a punitive method like taxes in case of nonconformity
    3. combating the unsustainable depletion of the soil from continuous over-cultivation through the implementation of regulations concerning farming wherever possible such as:
      1. the planting of trees in areas susceptible to erosion
      2. the practice of more efficient tillage to kill weeds with the least amount of tillage possible
      3. rotation of land used for farming and practicing crop rotation in appropriate locations on a regular basis of 3-5 years which would allow the depleted soil to recover its minerals in a cyclical fashion;
  2. Requests every member nation to gradually implement carbon taxes within the next 5 years in order to decrease emissions by reducing the demand for fossil fuels, the price will be set by the government, in which each emitter must pay for each tonne of greenhouse gas they emit, this will promote advantages such as but not limited to:
      1. Businesses to moving towards greener and more sustainable energy to avoid paying the tax, by doing so businesses will boost economic growth by substantially increasing government revenue due to the earning of these taxes
      2. Allows businesses to find affordable ways to find carbon alternatives therefore reducing the demand for fossil fuels
      3. Oil companies supporting and perhaps funding the tax
      4. A substantial increase in government revenue from the money earned by the tax,
  3. Suggests that Member States invest in transitioning from non-renewable energy sources to renewable energy sources by:
    1. passing legislation that limits the usage of coal plants by increasing taxation on coal plants incrementally in a way that:
      1. incentivizes the phasing out of coal
      2. offers the transfer of jobs from coal plants to other sources of energy  instead advocating for renewable energy and direct heating system across countries;
    2. subsidizing of renewable energy plant construction
    3. guaranteeing jobs in the renewable energy plants to workers in non-renewable energy plants
    4. giving tax breaks to green energy companies
    5. applying solar panels to use solar energy instead of natural gas for a more sustainable electricity supply
    6. taking advantage of unexploited areas for the creation of extensive wind turbines installations to effectively use wind energy;
  4. Encourages Member States to implement guidelines on industrial waste management that include:
    1. the promotion of recycling of waste where possible
    2. the utilisation of biological reprocessing to be able to compost large amounts of biological waste
    3. methods of energy recovery to be able to convert waste into renewable energy;
  5. Further recommends Member States take precautions against the extinction of species of fish by sending experts to document fish populations over time who will determine policies such as:
    1. limiting the fishing periods to times outside of their breeding season
    2. protecting the habitats of these fish from destruction due to contamination, waste or human intervention;
  6. Further urges Member States to enforce labeling laws and green advertising such that:
    1. all products would be required to indicate the level of ecological harm they cause 
    2. products that are certified to be ecologically friendly would be advertised and shown in order to:
      1. encourage companies to market products based on their ecological impact
      2. help consumers understand the impact that their consumption has on the environment;
  7. Further encourages Member States to promote the production and usage of electric vehicles in their countries by:
    1. installing charging stations in high traffic areas such as but not limited to:
      1. government buildings
      2. major highway stops
      3. major metropolitan areas
    2. subsidizing the production of electric vehicles and giving tax breaks to purchases of electric vehicles and using electric vehicles for new government vehicles.
  8. Calls upon the creation of an exclusive UN monitored international market thats sole product would be LNG (liquid natural gas) and be known as the LNG International Market in a way that
    1. will require member nations willing to be granted access to this market to comply with regulations below:
      1. that the oil produced by said country may not account for over 40% of its GDP
      2. that the country in question be part of the UN
    2. wll task the UN to subsidize 10% of the price per barrel of LNG for a duration of 3 years in order to encourage member nations to transition from oil
    3. welcomes the creation of an executive board consisting of the top current producers of LNG whose task will be maintaining a consistent price per barrel of LNG, this position on the executive board is reserved for sovereign nations who are members of the UN;