During the Delhi Ministerial Dialogue on Green Economy and Inclusive Growth held 3 October 2011, Nicaragua put forward some of its major proposals and concerns of about Green Economy:
Nicaragua believes that the process toward Rio+ 20 may not only have the general goal, established by the United Nations, of reaching a "renewed political commitment" toward Sustainable Development. We propose to go beyond. We advocate for a strong commitment with life in Mother Earth, with the human wellbeing toward social and environment justice. This is, indeed, what Nicaragua subscribed as the first signatarian country of the Universal Declaration for Human and Mother Earth wellbeing.
Nicaragua has expressed concern that the debate on Green Economy can distract the attention on sustainable development. Also, has expressed concern that United Nations' vision on Green Economy favors the perspective of developed countries, for example, there are no longer references to Ecological Economy but to Green Economy. The pillars of the interrelation between economy and environment, also known as Ecological or Green Economy, have been discussed since Rio 1992. However, in March 2011 the developed countries submitted their own interpretation of Green Economy and called it "a guide for poverty reduction".
It is a major problem that developed countries translate Green Economy into technological, renewable energy, and transportation commitments based on their own models. Although these subjects are certainly part of the Ecological Economy, are only initial steps in the long way toward sustainability but not the solution to the existing conflict between development and human life in Mother Earth.
Therefore, as stated in several previous forums, Nicaragua proposes the inclusion of the following criterion and commitments in building up the concept of Ecological Economy:
•A solidarity and compassion for Mother Earth's principle. In other words, that the human wellbeing should be along with ecological justice to Mother Earth.
•Fair trade and solidary prices in commerce with developing countries,
•The understanding that technological development should not imply appropriation and mercantilization of planetary biomass but, instead, its caring and safeguarding in order to guarantee water, trees, soil and oxygen to present and future generations.
•Ancestral and indigenous knowledge should be taken into consideration in developing Ecological Economy
•Developing countries with almost zero participation in greenhouse gas emissions should receive financial compensations, in retribution for the negative consequences of global warming provoked by developed countries
•The application of shared but differentiated responsibility principle, and,
•Investment in developing countries to facilitate their adjustment to climate change.