26 May 2011 10:05:09
OECD: Green policies and growth can work together
The Organisation for Economic Co-operation and Development (OECD) has published a new report on the policies needed to steer the world towards green growth.
According to the OECD Green Growth Strategy, governments must follow two key policy lines if they are to take advantage of the "trillions of dollars" worth of investment which is available from environmentally-sustainable investment.
The first series of initiatives must be targeted towards preserving natural capital while encouraging economic growth. It argues that a loss of resources, such as water, could undermine future development.
Meanwhile, the second set should focus on discouraging pollution by making it more expensive and encouraging the efficient use of natural resources.
Angel Gurria, OECD secretary general, said: "This report shows that green and growth can go together. With the right policies in place, we can create jobs, increase prosperity, preserve our environment and improve the quality of life."
In his response, UK energy and climate change secretary Chris Huhne said a joint effort has to be made to generate the investment needed to bring about green growth, claiming the government is already doing this through the Green Investment Bank and electricity market reforms.