A Green New Deal
For policy proposals, see Green New Deal.
A Green New Deal is a report released on July 21, 2008 by the Green New Deal Group and published by the New Economics Foundation, which outlines a series of policy proposals to tackle global warming, the current financial crisis, and peak oil.[1] The report calls for the re-regulation of finance and taxation, and major government investment in renewable energy sources. Its full title is: A Green New Deal: Joined-up policies to solve the triple crunch of the credit crisis, climate change and high oil prices.[2]
Main recommendations
- Government-led investment in energy efficiency and microgeneration which would make 'every building a powerstation'.
- The creation of thousands of green jobs to enable low-carbon infrastructure reconstruction.
- A windfall tax on the profits of oil and gas companies - as has been established in Norway - so as to provide revenue for government spending on renewable energy and energy efficiency.
- Developing financial incentives for green investment and reduced energy usage.
- Changes to the UK's financial system, including the reduction of the Bank of England's interest rate, once again to support green investment.
- Large financial institutions - 'mega banks' - to be broken up into smaller units and green banking.
- The re-regulation of international finance: ensuring that the financial sector does not dominate the rest of the economy. This would involve the re-introduction of capital controls.
- Increased official scrutiny of exotic financial products such as derivatives.
- The prevention of corporate tax evasion by demanding financial reporting and by clamping down on tax havens.[3][4][5]
Authors
Colin Hines explains the Green New Deal
The authors of A Green New Deal are:
- Larry Elliott, Economics Editor of the Guardian
- Colin Hines, Co-Director of Finance for the Future
- Tony Juniper, former Director of Friends of the Earth
- Jeremy Leggett, founder and Chairman of Solar Century and SolarAid
- Caroline Lucas, Green Party of England and Wales leader, MEP and Member of Parliament for Brighton Pavilion
- Richard Murphy, Co-Director of Finance for the Future and Director of Tax Research LLP
- Ann Pettifor, former head of the Jubilee 2000 debt relief campaign and Campaign Director of Operation Noah
- Charles Secrett, Advisor on Sustainable Development, former Director of Friends of the Earth
- Andrew Simms, Policy Director of the New Economics Foundation
See also
References
- ↑ Mark Lynas (July 17, 2008) "A Green New Deal" New Statesman
- ↑ New Economics Foundation, (July 21, 2008) http://www.neweconomics.org/gen/greennewdealneededforuk210708.aspx
- ↑ David Teather (July 21, 2008) "Green New Deal group calls for break-up of banks", The Guardian
- ↑ Jeremy Lovell (July 21, 2008) "Climate report calls for green 'New Deal'", Reuters.
- ↑ Riley Smith (July 31, 2008) "Group Suggests a Green New Deal in the UK to Fight Climate Change", Celsias.com.
External links
- Full text of A Green New Deal from the New Economics Foundation
- The Green New Deal Group
- UNEP Global Green New Deal
- Caroline Lucas on A Green New Deal at the Guardian
- A green New Deal: Green, easy and wrong, article at The Economist
- Support the Green New Deal for Europe
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