WORLD
U.N. Seeks Oil Tax for Global Green 'New Deal'
2009-03-19 08:09am
The head of the United Nations Environment Program said Thursday investments of up to $750 billion could create a "Green New Deal" to help revive the world's economy, and that it could be funded in part by a tax on oil.
The official, Achim Steiner, said the focus of the spending should be on creating green energy alternatives such as solar and wind power, and improving energy efficiency in buildings. He said the program would create jobs and help reduce global poverty.
"The opportunity must not be lost," Steiner told Reuters, who added that the results of a UNEP study will be put before world leaders April 2 during a meeting in London over how to revive the global economy.
He said by taxing 1 percent of the world's gross domestic product, about $750 billion could be raised to fund "Global Green New Deal," inspired by the "New Deal" program of U.S. President Franklin D. Roosevelt in the 1930s.
(c) 2009 Newsroom.