Thursday, January 27, 2011

Government Investment Green Jobs and Economic Recovery

Green jobs can fuel economic recovery. This is the logic behind President Obama's pledge to invest $150 billion to create 5 million green jobs in the US over the next 10 years.

The convergence of automation and globalization have permanently eliminated millions of jobs. High rates of unemployment are a function of a changing global economy.The green economy can create jobs and fuel the ongoing recovery.

Research from the United Nations Environmental Programme (UNEP) has indicated that transitioning to a sustainable, low-carbon economy can create millions of green jobs. The US Department of Labor has projected significant growth in green jobs between 2008-2018.

If these predictions are to materialize, governments will have to invest. This means governments will have to set and meet ambitious goals that will help to accelerate the growth of the green economy. President Obama made clear his commitment in his 2011 State of the Union address when he announced his desire to see America pursue clean energy, electric vehicles and an end to oil subsidies.

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