With their low-carbon profile, rich natural assets and promising policy initiatives, the world's 48 least developed countries are well-positioned to jump start the transition to a green economy, according to a new UN report released?Monday in Turkey.

"The priority for the new program of action is to build strong economies that can withstand external shocks," UN Secretary-General Ban Ki-moon said in a summit of the leaders from 48 poor countries in Istanbul at the start of a UN Conference on Least Developed Countries(LDCs).

The joint report, issued by the United Nations Environment Programme (UNEP), the United Nations Conference on Trade and Development (UNCTAD) and the UN Office of the High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States (UN-OHRLLS), points to the economic and human development opportunities of a green economy transition for LDCs.

Some 10,000 delegates, including 50 heads of state and government, 10 vice presidents, 94 ministers and chairmen of 47 international organizations, representatives of the private sector, scientists and members of nongovernmental organizations, are attending the event, which is chaired by Turkish President Abdullah Gul.

While developed and emerging countries face substantial costs of 'decarbonization', as well as costs linked to retiring inefficient fossil fuel-based technologies, the report suggests that LDCs can avoid these hurdles by maintaining and expanding sustainable economic activities they are already utilizing.

For example, low-carbon, labour-intensive agriculture and community-based forestry are sustainable practices that have existed for decades in these countries, and they will be central elements in greening these sectors.

In addition, the report, Why a Green Economy Matters for the Least Developed Countries, finds that new opportunities offered by a green economy will help LDCs meet their Millennium Development Goals.

Structural constraints, including dependence on fragile agriculture, limited access to energy and low economic diversification, which have previously prevented LDCs from significantly reducing poverty and achieving higher rates of development, resulted from investments and policies that undervalued the importance of the economic sectors most relevant to the livelihoods of the poor.