Concerns grow that rich countries may not transfer promised resources to poor nations due to crisis

It is now believed that the economic and financial crisis that has hit Europe and the United States could have a negative impact on the Rio+20 Sustainable Development Conference in June.

According to André Correa do Lago, Brazil’s chief Rio+20 negotiator, although the conference itself is not in danger, the commitment that rich nations have made to transfer financial resources to poor nations so they can move ahead with sustainable development projects may be under threat.

“Obviously, at a time when rich nations need funds to resolve their own problems it will be difficult for them to take on commitments for the transfer of resources to developing nations,” explained Correa do Lago. But, he added, the present social and economic crisis does create a favorable environment for questioning the present model of production and consumption.

“If the idea is to have a different world, with new paradigms, the effect of the crisis will be to contribute to a discussion of significant changes. The crisis leads people to think of alternatives,” declared Correa do Lago, as he pointed out that the goal of Rio+20 is to deal with problems in terms of long-term solutions that go far beyond the present economic crisis.