UNCTAD-SELA seminar on the circular economy as a strategy for development: The role of the legislature

The challenges to economic and social development in Latin America and the Caribbean are not limited to those resulting from the pandemic. Even before the crisis, the region was facing severe economic and social problems, with unemployment and undernourishment rates on the rise since the commodity super-cycle closed in 2014. The region's economic structure, overly dependent on commodity extraction, will need to change if the Sustainable Development Goals are to be achieved.

A repertoire of strategies will need to be implemented to achieve a sustainable and inclusive economic recovery that addresses pre-existing structural weaknesses. Among these strategies, the circular economy is an attractive alternative, as it promises not only job creation, increased innovation and the creation of growth opportunities, but also progress towards environmental goals, such as reducing greenhouse gas (GHG) emissions, reducing plastic waste, and regenerating ecosystems.

The Circular Economy seeks to eliminate waste and pollution by design, keep products and materials in use, and regenerate natural systems. By following these principles, several companies and public entities have managed to reduce their costs, reduce their negative environmental impact, and even provide better products and services to their beneficiaries, while restoring previously damaged natural environments.

The circular economy is simultaneously an environmental strategy and a strategy for economic development. The transition to the circular economy would create 4.8 million additional jobs and economic growth in Latin America and the Caribbean. Partly due to an international trade context where it is increasingly important to meet sustainability criteria. The environmental benefits are also immense: this strategy would make it possible to avoid 45% of the greenhouse gas emissions that are due to the way we produce goods and food, making its implementation crucial to combat climate change.

There are legislative barriers that hinder the transition to the circular economy, as well as legislative initiatives that could promote it. In this event, SELA in cooperation with UNCTAD seeks to identify and share some of these challenges and opportunities, whose understanding would allow parliaments in the region to devise reforms and initiatives that generate economic, social and environmental benefits.

Objectives

• To present to Latin American and Caribbean parliaments the circular economy as a strategy for economic and social development, consistent with their commitments to the Sustainable Development Goals and the Paris Agreement.
• Identify areas where legislative development would be beneficial to create the necessary conditions for the transition to the circular economy.
• Identify and share a repertoire of legislative actions that can support the implementation of the circular economy.

More detailed information on the event may be found on SELA's website.

Core content

1. The circular economy as a development strategy for Latin America and the Caribbean.
2. Regulatory advances in circular economy: LAC and the world.
3. Challenges facing the transition in the private sector that require legislative attention.
4. Round table of participants

Purpose

To disseminate knowledge among Latin American and Caribbean parliaments on strategies for sustainable and inclusive economic development, from a Circular Economy perspective.

Target audience:

Members of parliaments, senates and national assemblies in Latin America and the Caribbean; legal-technical staff of these entities.

Format:

Online conference to be held over two days, with two hours of sessions per day.