Realizing a "Green New Deal"
UNEP-Commissioned Report Underlines How
Environmental investments Can get the Global and
National Economies Back to Sustainable Work
25th Governing Council/Global Ministerial
Environment Forum 16-20 February
Nairobi, 16 February 2009 - One
third of the around $2.5 trillion-worth of planned
stimulus packages should be invested on 'greening' the
This would assist in powering the
global economy out of recession and onto a Green, 21st
century path a new report released today by the UN
Environment Programme (UNEP) says.
The estimated $750 billion of green
investment, equal to about one per cent of current
global GDP, could trigger significant, multiple and
potentially transformational returns.
Allied to innovative market mechanisms and fiscal
policies, these include:
- Stimulating clean tech innovation, stabilizing and
boosting employment in decent jobs and protecting
- Cutting carbon dependency and
greenhouse gas emissions, reducing degradation of
multi-trillion dollar ecosystems and their goods and
services and tackling water scarcity
- Furthering the opportunity to
achieve the Millennium Development Goal of ending
extreme poverty by 2015
The G20, comprising of the 20 largest developed and
developing economies, who next meet in London in April,
is the first opportunity to begin shaping a Global
Green New Deal.
Such a Deal can also set the
stage for a successful outcome to the crucial UN climate
change meeting later in the year in Copenhagen,
These are among the findings of the
Global Green New Deal report, written in
consultation with experts from over 25 UN bodies and
external organizations including the OECD, the
International Monetary Fund and the World Bank.
The report, A Global Green New
Deal, commissioned on behalf of UNEP's Green
Economy Initiative was written by Professor Edward B
Barbier of the University of Wyoming.
Prof. Barbier is a leading expert
on the economics of sustainability, and co-authored with
the late Prof. David Pearce, the landmark Blueprint
for a Green Economy.
Its findings, alongside those of
the UNEP Year Book 2009, are being presented today to
over 100 environment ministers attending UNEP's
Governing Council/Global Ministerial Environment