16 February 2009: The findings of the UN Environment Programme (UNEP) report titled “A Global Green New Deal” were presented in Nairobi, Kenya, at the opening of the 25th Session of the UNEP Governing Council, which is convening from 16-20 February 2009.

The report, commissioned on behalf of UNEP’s Green Economy Initiative and written in consultation with experts from over 25 UN bodies and external organizations, including the Organisation for Economic Co-operation and Development, the International Monetary Fund and the World Bank, suggests investing one third of governments’ planned stimulus packages, or $750 billion, on “greening” the global economy. In particular, the authors call for: stimulating clean technological innovation, promoting employment in decent jobs and protecting vulnerable groups; cutting carbon dependency and greenhouse gas emissions, reducing degradation of ecosystems and tackling water scarcity; and advancing progress towards reaching the Millennium Development Goal of ending extreme poverty by 2015. The report also urges the G20 to demonstrate leadership when they meet in April in London, UK, and to begin shaping a Global Green New Deal. Among many examples of innovation, the report cites the Republic of Korea’s plans to invest 3% of GDP in its Green New Deal. [UNEP Press Release]