In response to the financial and economic crisis, UNEP has called for a “Global Green New Deal” for reviving the global economy and boosting employment while simultaneously accelerating the fight against climate change, environmental degradation and poverty. A Policy Brief outlining these recommendations was prepared in April 2009. This report is a follow-up to that brief that was launched during the G20 (Pittsburgh Summit) in September 2009.
The review of country experiences with green stimulus packages reveals that much more needs to be done if the G20 is to follow through on its commitment to accelerate the transition to the Green Economy. UNEP reiterates its Global Green New Deal call, and urges G20 governments to invest US$ 750 billion of the US$ 2.5 trillion stimulus package (about 1 per cent of global GDP) towards building a green economy – one that reduces carbon dependency, addresses poverty, generates good quality and decent jobs, maintains and restores our natural ecosystems, and moves towards sustainable consumption.