The Organization for Economic Cooperation and Development (OECD) issued a report on Thursday praising Colombia’s progress toward membership in the area of economic transparency, but stresses the need to do more to steer economic development in an environmentally sustainable and socially equitable direction.
The OECD stated that Colombia “demonstrates a high level of commitment to the international standard for transparency and exchange of information for tax purposes,” and is ready for phase two of the peer review process, to take place in early 2015.
The report goes on to say that “Colombia has a solid legal and regulatory framework ensuring that ownership and accounting information is available for all relevant entities, and Colombian authorities have full access to this information for exchange purposes.”
MORE: Colombia takes step towards joining OECD
Colombia’s rich natural heritage as one of the world’s most bio-diverse countries is coming under increasing pressure from extractive industries, livestock grazing, urbanization and car use.
MORE: Colombia only Invests 1% into conserving its biodiversity: new documentary
The Environmental Review recognized the role that armed conflict plays in environmental destruction, and the implementation of policy.
“Internal armed conflict has undermined the rule of law, exacerbated many environmental pressures (mainly from illegal mining, cultivation of illicit drug crops and deforestation), and restricted access to protected areas and the management of natural resources.”
“Until recently, environmental policies and institutions failed to keep pace with these pressures, and in some cases have been weakened.”
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Founded in 1961, the Organization for Economic Cooperation and Development (OECD) is coalition of 34 countries with a mission to promote policies that will improve the economic and social well being of people around the world, emphasizing responsible and sustainable economic, social, and environmental practice.
Sources
- Acerca de la Organización para la Cooperación y Desarrollo Económicos (OCDE website)
- International community continues making progress on tax transparency (OECD Report)
- Colombia must do more on environment for sustainable economic growth, says OECD
- Environmental performance reviews: Colombia 2014 (OECD Report)