New Report: Green Investment Will Yield Two Million New
Jobs in Two Years
Report Outlines Rapid Recovery Economic Program That Moves America Toward
A Clean Energy Future
Washington, D.C. (September 9, 2008) -- As America confronts the current
energy crisis, a new report released today by the Natural Resources
Defense Council (NRDC) and partner labor and environmental groups shows
that the U.S. can create two million jobs by investing in clean energy
technologies that will strengthen the economy and fight global warming.
The report finds that investing in clean energy would create four times
as many jobs as spending the same amount of money within the oil
industry.
“This new report shows that investing in clean energy is a win-win
solution. Shifting to clean energy will put more people to work, provide
consumers relief at the pump, help reduce global warming pollution and
revitalize our economy at a time when many Americans are hurting,” said
Frances Beinecke, President of NRDC.
“Green Recovery – A Program to Create Good Jobs and Start Building a
Low-Carbon Economy” analyzes the potential for a two year $100
billion green investment program – which would be comparable to the size
of the April 2008 federal stimulus package dedicated to consumer rebates
– to be an engine for job creation in the U.S. This type of investment
is a component of a broader clean energy strategy to create a low-carbon
economy and reduce global warming pollutions.
The program could be paid for with proceeds from auctions of carbon
permits under a global warming cap-and-trade program that will drive
private investments into clean energy and raise public revenue through
carbon permit auctions. A cap-and-trade program will enable America to
reduce global warming pollution to the levels science indicates are
needed to avoid the worst effects of global warming.
The package is illustrative of the potential for clean energy – and
specifically green infrastructure investments – to create new jobs and
strengthen the economy. The specific package would invest in six green
infrastructure priorities: retrofitting buildings to improve energy
efficiency, expanding mass transit and freight rail, constructing
“smart” electrical grid transmission systems, wind power, solar power,
and next-generation biofuels.
The report also shows that the vast majority of the two million jobs
gained from this initial $100 billion investment in clean energy would
be in the same areas of employment that people already work in today, in
every region and state of the country; for example: constructing wind
farms creates jobs for sheet metal workers, machinists and truck
drivers, among many others. Increasing the energy efficiency of
buildings through retrofitting requires roofers, insulators and building
inspectors. Expanding mass transit systems employs civil engineers,
electricians, and dispatchers.
In addition to creating two million jobs nationwide over two years, a
$100 billion initial investment in our clean energy future would:
The report proposes that the $100 billion of initial investments fund:
The report was written by the Political Economy Research Institute (PERI)
at the University of Massachusetts-Amherst, under commission by the
Center for American Progress (CAP) and released by NRDC and a coalition
of labor and environmental groups. The authors of the report are Robert
Pollin, Heidi Garrett-Peltier, James Heintz, and Helen Scharber of PERI.
For the complete report findings go to
For the 34 state fact sheets go to:
http://www.americanprogress.org/issues/2008/09/green_recovery.html
The Natural Resources Defense Council is a national, nonprofit
organization of scientists, lawyers and environmental specialists
dedicated to protecting public health and the environment. Founded in
1970, NRDC has 1.2 million members and online activists, served from
offices in New York, Washington, Chicago, Los Angeles, San Francisco and
Beijing.
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