Using economic instruments for sustainable development
Utilizing the potential of economic and financial instruments to make capital work for the environment and sustainability rather than against it.
Economic instruments (usually taxes and charges) are used to achieve specific and sustainable local, national and international development goals. There is scope for appropriate economic instruments, including market mechanisms, to be used to meet the objectives of sustainable development and fulfilment of basic needs. Their effective use can be explored by governments, in cooperation with business and industry, as appropriate.
Integrating environmental considerations into sectoral policies requires proper pricing of environmental resources and internalization of environmental costs. Market-based instruments cannot, however, entirely replace direct regulations and administrative interventions in environmental policy. They have to be linked to and supplement clearly defined standards on emissions and environmental quality insofar as the existing legal framework is not sufficient.
Reason #1. Inadequate research and development capacity
 Assisting coastal and island states to expand marine research capabilities
Reason #1. Inadequate research and development capacity
 Enhancing scientific and technological research
Scientific experimentation and technological applications for more effective means of creating material progress.
Reason #1. Inadequate research and development capacity
 Coordinating production research and development
Assimilating data and articulating global needs. The effect is global interdependent economic network.
Reason #1. Inadequate research and development capacity
