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UNEP’s Global Green New Deal Gains Momentum with Investments from Japan and South Korea

 Japan and the Republic of Korea Launch Green New Deals

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]