How do we fund the Green New Deal? This publication, published by the Green European Foundation for the Greens/EFA Group, outlines how public and private investment can be targeted at the green economy, and so provide a sustainable path out of the crisis.
Since the beginning of the crisis in 2008, countless G20 and EU Summits have not managed to stop or even slow the plunge our economies are taking.
It's time for change. It's time for something different. It's time for the Green New Deal.
The Green New Deal is a comprehensive response to the current economic, social and environmental crises. It's more than just another "eco-friendly" policy - it's a plan for a complete rethink of priorities, from the way we live and work to what we value most. A chance to reconcile our lifestyles - the way we live, produce and consume - with the physical limits of our planet.
One of its many aspects is a massive investment programme in clean energy projects, mobility, buildings and industrial production, to name a few examples. So how exactly are we going to pay for all this?
This new study explains how. It shows that the Green New Deal can create six million new jobs and save €200 billion on household and company energy bills each year. Over the next 40 years, the 2050 energy roadmap is expected to save between €175 and €300 billion on energy bills annually.
In both cases, the savings are likely to exceed the extra costs of additional investments.
And here's the kicker - most of these investments will be funded by the private sector. This study explains how.
The Green New Deal would cost about €200 billion a year. That's one third of what's being spent worldwide on environment-damaging activities, such as through the use of fossil fuels. It's less than what EU countries spend on defence. It's really not that big of an investment, for a much better, safer and sustainable return.
So, to ensure a sustainable future, for people and planet, why not give the Green New Deal a chance?
The Green New Deal, let's make it work!
Read more: Funding the Green New Deal: Building a Green Financial System
See our introduction video: Why do we need a Green New Deal?