International Institute for Environment and Development 
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| International Institute for Environment and Development |
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Notification of new research competition and inaugural IIED/nef Fellowship Programme
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Greening Economics: New perspectives on the economics of environment and development Economic principles are increasingly being applied to analyse many aspects of environment from air and water pollution, to biodiversity loss and climate change. Economic tools such as cost benefit analysis and valuation which attempt to place monetary values on the environment are widely used to inform decision-making on public investment. At the macroeconomic level, economists are studying how the environment contributes to the economy as reflected in key economic indicators such as GDP, and how changes in macroeconomic policy and trade policy affect the environment. In the context of climate change, it was the Stern Review’s conclusion that taking action to reduce greenhouse gas emissions to safe levels would mean losing only 1% of GDP per year compared to huge costs of inaction, that most caught policy makers attention. Market-based instruments are being employed to tackle many environmental problems in both industrialised and developing countries . These range from the global scale, where carbon credits are traded internationally within predefined limits – so called ‘cap & trade’ – to the national and local levels, where taxes on pollution for example work to incorporate environmental externalities into the bottom-line of businesses. In developing countries there has been an explosion of interest in payment for environmental services schemes, following the lead of the pioneer, Costa Rica, which established its national scheme ten years ago. But the use of these economic approaches is fiercely debated on both practical and theoretical/conceptual grounds. The proliferation of economic studies and proposals on the environment is not matched by implementation in practice, particularly in developing countries. Investment projects have gone ahead despite valuation studies calculating that they would result in a net loss to society, and proposals to introduce market-based incentives have either gone unheeded (for example proposals to replace administrative allocation of forest concessions by auctioning) or have been greatly altered in the process of implementation. This raises questions about the relevance of environmental economic approaches to development challenges and poverty reduction. At a conceptual level, critics question whether it is really possible or appropriate to put values on the ‘priceless’, or on the uncertain, or to rely on economic approaches alone in rural communities reliant on subsistence agriculture. Social development specialists ask how much can a discipline which aims to maximise efficiency tell us about questions of inequality and poverty. There are also concerns about the assumption of rational individuals maximising utility which underlies the use of market-based incentives and the lack of attention to other factors driving behaviour such as ethical and cultural norms. Market-based incentives, it is claimed, far from improving the situation by harnessing the power of the market, may suppress cooperative behaviour or individuals’ desire to ‘do the right thing’. The political context in which such incentives are introduced also needs to be understood, and economists are often accused of giving insufficient attention toinstitutions and power relations which can affect the outcome of new policy measures. T he European Emissions Trading Scheme (ETS), for example, has been criticised for giving companies allocations to emit greenhouse gases that were higher than necessary, allowing them to make money in the process. Proponents however argue that these are teething problems, and point to the success of the sulphur trading scheme in the United States as an example of what can be achieved. The International Institute for Environment and Development (IIED) and New Economics Foundation (nef) are launching a Fellowship Programme to bring new thinking to the challenges of applying economics to environment and development. The inaugural IIED-nef Fellowship prize will be awarded to an outstanding researcher through a competitive process . The Fellowship will be full-time, for a duration of four months and the successful candidate will divide their time between IIED and nef. During this tenure, the Fellow will be expected to draw on and distil cutting edge theory and practice in their chosen area, facilitate a process of cross-fertilisation and learning between the two institutions, and formulate concrete proposals on directions for future research to make genuine progress in this vitally important area. The Fellowship will culminate in a joint IIED-nef event, where key stakeholders will be invited to share in the results of this work, and contribute perspectives on the way ahead. This is an exciting opportunity for someone to make a real contribution to both theory and practice: to both help frame the debate and chart the way forward, and to play a part in moving us from an unsustainable to a more sustainable economic system. Our intention is to stimulate innovation and fresh-thinking. We invite proposals from interested and qualified researchers, setting out their understanding of the issues and clearly identifying the work they propose to pursue through the fellowship. While we expect the successful candidate to have impressive academic credentials in economics, we will also be looking for the ability to bring insights from actual experience in government in designing and implementing public policy, or in the private sector in responding to and working to influence public policy, and/or from knowledge of other disciplines such as political science, sociology and psychology. Reflecting the importance that we attach to this inaugural Fellowship award, the successful candidate will receive a bursary of up to £15,000 on successful completion of the four-month project. Applications of not more than two sides of A4 and CVs to arrive no later than 1 March 2008 Please email iied-nef.fellowship@iied.org Or by post to: Dr. Camilla Toulmin, Director, IIED, 3 Endsleigh St., London WC1H 0DD. Shortlisted candidates will be required to submit a full proposal.  View PDF version (139KB) IIED is an international independent policy research organisation founded in 1971. IIED provides expertise and leadership in researching and achieving sustainable development at local, national, regional and global levels. In alliance with others we seek to help shape a future that ends global poverty and delivers and sustains efficient and equitable management of the world's natural resources. www.iied.org nef is an independent ‘think-and-do’ tank that works to develop a new kind of economic understanding, integrating people's well-being with the well-being of the planet, in order to more effectively address the problems of sustainable development. nef staff have substantial experience in international finance and development, research management, programme and project design and management, debt, trade, policy formulation and dialogue, publicity and capacity building. www.neweconomics.org Copyright © 2005 International Institute for Environment and Development. |
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