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PaulS's picture

Green New Deal - a solution?

As we are heading towards economic meltdown in the face of the triple challenges of the credit crunch, climate crunch and energy crunch, a new group calling itself The Green New Deal has put forward a policy package that aims to address this triple crunch. Their inaugural report looks at how the UK and US recovered from the Great Depression of the 1930s and also draws important lessons from Britain World War II experience, oil-crunched Cuba in the 1990s as well as nef's work on well-being.

Peak Oil and Climate Change present threats and imperatives of a scale unprecedented in human history. By taking up these imperatives through a de-carbonized retrofit of the nation’s (and ultimately the world’s) transport, food, and manufacturing systems, policy makers can address a number of crises simultaneously—environmental decline, resource depletion, geopolitical competition for control of energy, unemployment, balance of trade deficits, malnutrition and food-related health problems, and more.

If we (meaning, ultimately, the human species) cannot agree upon and undertake this course of action, then we will have lost what is almost certainly our last chance for collective survival.

Click here for more information and to download the report:
http://www.neweconomics.org/gen/z_sys_publicationdetail.aspx?pid=258

The authors of the report include: Andrew Simms, Ann Pettifor, Caroline Lucas, Charles Secrett, Colin Hines, Jeremy Leggett, Larry Elliott, Richard Murphy and Tony Juniper.
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Borrowing £50bn per year to finance something like the Green New Deal is just about the only sensible way forward.

£50bn sounds a lot, but it is less than 1% of UK GDP.

Now think of the benefits, in comparison to business as usual:

- Reducing future Oil import bills - that alone will easily finance the investment
- Reducing energy consumption overall, thus further reducing oil and gas import bills
- Exporting the accumulated experience to countries that will follow a few years later ... and they all will sooner or later (or bankrupt under the ever increasing burden of oil/gas import costs)
- If UK given precedence, the whole economy could start coming out of recession a lot sooner. The Government are taking about taking some capital projects forward for the same reasons. The Green New Deal would be an excellent choice.

Well worth a read. If you agree, perhaps you should be asking your MP and Councilors for support.