Loading...
See More

Unions challenge G20 to invest in green jobs

Apr 19 2012 16:39
I-Net Bridge
Johannesburg - The International Trade Union Confederation (ITUC) has called on G20 finance ministers to drive investment of at least 2% of gross domestic product (GDP) in the green economy.

This follows an independent economic analysis by the Millennium Institute, called the green investment model, which shows that new investments of 2% of GDP in just six of the G20 countries, in each of the next five years, could create up to 42 million jobs.

It said that 24 million jobs could be created in Australia, Germany and the USA over five years, and emerging market economies including Brazil, Indonesia and SA could create over 18 million jobs.

"The G20 are the world's large economies.

"If investing 2% of GDP in just six of these economies over five years can create 42 million jobs, imagine how many could be created if finance ministers drive investment in all 20 economies," said Sharan Burrow, general secretary of ITUC.

"G20 finance ministers have to shift from austerity that is creating despair to growth and job creation.

"Putting people, and especially young people, back to work is the only way to avoid detonating a social timebomb," said John Evans, general secretary of the Trade Union Advisory Council to the OECD.
green economy  |  g20

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

SMALL BUSINESS

Scenario planner Clem Sunter says he is as passionate about economic freedom as Julius Malema, but his bet is on entrepreneurs to open up the whole economy.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Introducing tablets in schools is:

Previous results · Suggest a vote

Loading...