RESOLUTION EC-122

FORUM: ECONOMIC COMMITTEE

QUESTION OF: Measures to promote sustainable capitalism

SUBMITTED BY: Lebanon

CO-SUBMITTERS:Qatar, Peru, Tajikistan, Rwanda, New Zealand, Paraguay, Singapore, Ukraine, United States of America, Switzerland, Turkmenistan.

STATUSApproved

THE ECONOMIC COMMITTEE,

Strongly alarmed by the adverse effects of capitalism on the state of the earth,

Welcoming the idea of a sustainable ecological movement to support a more sustainable capitalistic
society,

 

Acknowledging the dire effects of corruption that plagues many member nations and leads to the
destabilization of capitalism,

Keeping in mind that without the right steps, the idea of capitalism will suffer in the eyes of many if
ecological steps are not taken

Aware of the large environmental footprint that firms and businesses leave in production, transportation,
and supplying goods,

Noting the depletion of natural resources such as fossil fuels that are used to generate energy and
ecosystems which are destroyed for their natural resources such as coal and forests,

Further noting the loss of 60% of the biodiversity of species is due to their natural ecosystems being
redeveloped by capitalism for its commodity productions,

Alarmed by the inequality in opportunities among economic classes, races, and genders allowing the
wealthy to thrive and grow while the poor are overworked and payed limited wages,

Reminding member states of the existence of LNG (Liquid Natural Gas) that has the potential to serve the
same purpose oil and is 40%-50% less harmful to the planet.

  1. Calls for the creation of a new organization called Index of Green Companies (IOGC) with the goal of evaluating companies without bias and declaring whether they are a Green Company or not by:
    1. informing member nations that no company is exempt from this rating and that every company will eventually be evaluated
    2. ensuring the public has access to the results provided to ensure transparency and help customers make sound decisions about their purchases;
  2. Asks for the creation of an exclusive UN monitored international Market known as the LNG International Market for the trading of LNG (liquid natural gas) such that:
    1. member nations seeking access to this market would have to ensure that the oil produced domestically may not account for over 40% of the country’s GDP
    2. the UN would 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. an executive board consisting of the top current producers of LNG would be created with the task of maintaining a consistent price per
      barrel of LNG, reserved for current member nations of the UN;
  3. Proposes a 1% tax, of its market value on oil produced with the tax revenues going to a fund known as the Oil Transition fund that will aid with:
    1. the smooth transition of companies and establishments to more ecological systems
    2. the support of organizations that depend on fossil fuels until a resolution is found;
  4. Establishing effective measures to counter the abuse of taxpayers money in all member states by means such as but not limited to:
    1. developing a global organization known as United Nations Counter-Corruption Community or the (UNCCC) that would be run by the United Nations which would visit member nations to assess the current state of governments in regards to corruption by means such as but not limited to:
      1. analyzing the cash flow and balance statements of countries and the national reserves to monitor whether the money is being used and invested in the manner it had been appropriated
      2. examining the current anti-corruption infrastructure in place
    2. creating a public system for the citizens of the world to see how their governments perform in the eyes of the UNCCC;
  5. Invites member states to create, support, or fund organizations that are researching and developing innovative ideas and technologies to combat climate change such as:
    1. more sustainable packing materials
    2. more affordable electric vehicles;
  6. Advises all member states to provide a government sponsored sustainable capitalism course, one that could educate on current emission levels, wage inequality, among other subjects to business leaders such as but not limited to investors and corporate executives;
  7. Urges all nations to consider a sustainable pathway for tourism development with some good examples of these paths being:
    1. adopting the LEED standards for sustainable building development with regards to hotels and resorts
    2. encouraging the use of locally-grown produce as opposed to imported produce in restaurants;
  8. 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, wherein the tax amount would be set by the government, in which each emitter must pay for each ton of greenhouse gas they emit, that would promote advantages such as but not limited to:
    1. Businesses moving towards greener and more sustainable energy to avoid paying the carbon tax and thus helping in acheiving the goal of sustainable capitalism
    2. Businesses finding affordable ways to find carbon alternatives therefore reducing the demand for fossil fuels
    3. Increased government revenues from heavy emitters and users of fossil fuels that should be reinvested into sustainable and renewable forms of energy