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21 February 2011

Green economy needs two per cent of every nation's income, says UN

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Global green investment drive 'would pay off in terms of jobs, cleaner air and energy use' 

The United Nations will today call for two per cent of worldwide income to be invested in the green economy, a move it says would boost jobs and economic growth.

The call is expected to be matched by statements of support for low-carbon investment from heads of state including President Barack Obama of the US and Hu Jintao of China, and several chiefs of multinational companies.

An investment of two per cent of global GDP would more than pay for itself in the form of millions of new jobs, the development of new industries, health benefits from cleaner air, energy efficiency savings and a reduction in greenhouse gas emissions, the UN is expected to say.

These findings are also backed up by a report to be published today by the German government, which warns that Europe will suffer continued low growth rates unless investment in green projects is increased. Raising the level of ambition in the EU's climate targets would increase European GDP by up to $842bn, a six per cent rise, and create up to six million additional jobs across member states.


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