Thoughts on the Green Economy

Katherine Hamilton on February 22, 2010 Comment

Leading thinkers from around the world gathered in DC for the National Council on Science and the Environment's 'The New Green Economy' conference in late January and Ecosystem Marketplace checked in on progress of UNEP's initiatives on a 'Global Green New Deal.' A global green economy dream team panel spoke on developments in analyzing the value of natural capital and the value of its loss, projecting economic results from 'green stimulus,' and dreaming a new green economy. What would this world look like? For starters, getting us out of our economic recession, but taking the opportunity of stimulus monies to go towards increasing the renewable energy sector, decreasing carbon-dependence, and getting new green jobs in the process.

Dreaming the green dream, waking up, and doing it.

The UNEP has called on G20 countries to invest 1% of their country's GDP to promoting green economic sectors and South Korea has emerged as the leader of the 'Global Green New Deal' (UNEP report). Who knew? South Korea is the world's green economy superstar. South Korean president Lee Myung-bak first announced the country's move to the green lane in 2008, with a 'Low Carbon, Green Growth' vision, which morphed into a 'Green New Deal' in January of 2009 after the global financial crises hit. Green stimulus projects like renewable energy, mass transit, energy conservation, and environmental restoration projects account for about 80% of the country's economic stimulus package, which is supposed to create close to a million jobs.

Back in the US, $94 billion of our 2 stimulus packages are geared to clean energy transformation, according to a January report to the Council on Economic Advisors.

For case studies on practical steps taken by countries shifting to a green economy, check out 'Rethinking the Economic Recovery: A Global Green New Deal.'

Green Economy Session Panelists: Pavan Sukhdev (UNEP), Ed Barbier (University of Wyoming), Melinda Kimble (UN Foundation), Bill Becker (Climate Action Project)

National Council on Science and the Environment Conference website