UN: $40 billion needed to ensure transition to green economy

Joseph Mercadillio cycles with his son Jose Isaiah Mercadillio in a forest reserve in Manila on Environment Day (AFP, Jay Directo)

 

 

 

 

 

 

 

 

 

 

AFP
By Staff
June 5, 2011

NAIROBI — Investing $40 billion annually in the forest sector is needed for the world to transition into a low carbon, resource-efficient green economy, according to a UN report released here Sunday.

The additional investment “could halve deforestation rates by 2030, increase rates of tree planting by around 140 per cent by 2050,” said the report published by the Nairobi-based United Nations Environment Programme (UNEP). “Carefully planned investments would also contribute to increased employment from 25 million today to 30 million by 2050,” it also added.

The cost of ensuring a green transition would equal $40 billion a year or around 0.034 per cent of global GDP, the report said.

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