Exchanging information on national use of economic instruments

Description

Exchanging information on national use of economic instruments involves systematically sharing data, experiences, and best practices among countries regarding tools such as taxes, subsidies, and market-based mechanisms. This strategy aims to enhance policy effectiveness, avoid duplication of efforts, and address transboundary challenges by enabling informed decision-making. It remedies inefficiencies and knowledge gaps, supports harmonization of approaches, and fosters innovation in tackling issues like environmental degradation, resource management, and sustainable development.

Implementation

This strategy features in the framework of Agenda 21 as formulated at UNCED (Rio de Janeiro, 1992), now coordinated by the United Nations Commission on Sustainable Development and implemented through national and local authorities.

Given that the use of economic instruments and market mechanisms is relatively recent, Agenda 21 recommends that exchange of information about different countries' experience with such approaches should be actively encouraged. In this regard, governments should encourage the use of existing means of information exchange to look at effective use of economic instruments.