‘Green economy needs 2% of every nation’s income, says UN’

The Guardian, 21 February 2011

The United Nations will call on Monday for 2% 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 2% 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 6% rise, and create up to 6m additional jobs across member states.

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