9 January 2009: In an effort to spur economic growth, Japan and the Republic of Korea have both announced plans to invest billions of dollars in green projects.
Speaking about the countries’ plans, Achim Steiner, Executive Director of the UN Environment Programme (UNEP), noted that investments in clean technologies and renewable energy infrastructure can “counter […]
9 January 2009: In an effort to spur economic growth, Japan and the Republic of Korea have both announced plans to invest billions of dollars in green projects. Speaking about the countries’ plans, Achim Steiner, Executive Director of the UN Environment Programme (UNEP), noted that investments in clean technologies and renewable energy infrastructure can “counter recession and unemployment” and lay the basis for more sustainable economic growth in the 21st century.
Japan plans to provide zero-interest loans to
environmentally-friendly companies, and ultimately to create up to one
million jobs. The Republic of Korea plans to invest 38 billion dollars
in 36 projects, which it hopes will create 960,000 jobs. Steiner added
that UNEP’s Global Green New Deal and Green Economy Initiative are
“clearly two ideas whose time has come.” Steiner highlighted that the
announcements echoed the UN Secretary-General’s call in Poznań, in
December 2008, for a Green New Deal as the best chance for securing a
climate agreement in Copenhagen in December 2009. [UNEP Press Release]