Senior Multimedia Reporter
peter.christopher@guardian.co.tt
Economist and Independent Senator Dr Marlene Attzs has proposed policymakers adopt a “Caribbean Sustainable Development Test” ahead of strategic development plans for the region.
Attzs made the suggestion while giving the feature speech virtually on day one of the University of the West Indies St. Augustine campus’ Department of Economics’ Conference on the Economy on Thursday.
The event had the theme ‘Exploring New Opportunities for the Blue, Green and Orange Economy in the Caribbean and SIDS for Sustainable Development’
The Blue Economy is representative of ocean resources, green represents natural resources while the orange economy represents the creative sector.
Dr Attzs explained developing new sectors under “blue, green, or orange” labels is insufficient if underlying ownership structures and inequalities remain intact.
She told the audience gathered at the Learning Resource Centre auditorium that the development test, which comprised seven questions could expose the shortcomings that need to be addressed.
Dr Attzs said, “First, the question of economic additionality: Are we creating new productive capacity, or we merely shifting economic activity? Second, our environmental integrity. Are we protecting the natural assets of which our prosperity depends?
Third. An important question is that of social inclusion: who benefits, who is excluded, and who bears the cost?”
She continued, “The question of resilience comes fourth: Are we reducing our vulnerability to economic, climate, and technological shocks? And fifth, are we creating domestic value? How much of the income, ownership, employment, and knowledge generated remains in the Caribbean? Are we looking six at intergenerational responsibility? In other words, are we leaving future generations stronger productive assets and greater opportunities, or are we leaving them depleted resources and mounting liabilities and debt? “
The final question she raised looked at governance and accountability as she stated, “Do we have the institutions? Do we have the capacity and transparency to deliver and to demonstrate results?”
She used the Orange economy as an example, noting that while Carnival is connected to significant economic activity, there are questions as to how much of that economic value is retained locally versus captured elsewhere.
“The more important questions are how much value do we retain from our Carnival? Who owns the intellectual property? Who controls distribution? And how many sustainable businesses survive beyond the carnival season? These questions apply equally to our music, our literature, and other creative industries. International recognition is valuable, of course, but recognition alone does not build a sustainable creative economy,” said Dr Attzs.
She also explained that there were questions beyond economic returns that needed to be addressed in that regard.
“it also raises questions about intellectual property, raises questions about ownership, about compensation, and the growing power of digital platforms. Access to global markets is not the same as control over the value generated in those markets. We must therefore strengthen the financing, the digital capabilities, and the intellectual property systems that enable our Caribbean creators to build sustainable enterprises and retain a greater share of the wealth they generate,” she said, “And let us not forget that culture is more than a commodity. It embodies our history, our identity, and our collective memory. The challenge is for us to convert creativity to economic opportunity without reducing our cultural heritage to merely another product for sale.”
The conference is expected to continue today.
