London School of Economics - Fight slump with green spending

February 19, 2009

Academics have called for £280 billion to be spent worldwide on green policies as governments strive to tackle the credit crunch. Countries should spend on measures that will address the growing threat of climate change, stimulate economic recovery and lay the foundations for sustainable low-carbon growth, according to a report published by former members of the Stern Review on the Economics of Climate Change team. Lead author Alex Bowen, principal research fellow at the Grantham Research Institute on Climate Change and the Environment at the London School of Economics, said: "Our assessment shows that (£280 billion) spent globally in the next 18 months on green policies and investments ... will help us deal with the economic crisis, create jobs and tackle climate change."

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