Financial Recovery and a Sustainable New Deal

UK Prime Minister, Gordon Brown, is about to address the USA Congress and a global New Deal plus financial stimulus is on the agenda. So will this be a financially and environmentally sustainable new deal? There are some signs.

A snapshot – we have far more funding for energy programs in the US than any bill in history. The UK aims to access a £1 billion economic boost from energy. 3.9 of the 42 billion Australian financial stimulus goes to home insulation and solar hot water.

It is not just government. Recently investors, with US$ 3 trillion in assets, highlighted that climate actions can create $144 billion in savings. McKinsey, in its revised global Pathway to a Low Carbon Economy, finds the global investment required to address climate change is reasonable and “many of the opportunities would see future energy savings largely compensate for upfront investments.”