Since its creation in 1999, the G-20 (the Group of Twenty Finance Ministers and Central Bank Governors) has helped to strengthen the economic stability of nations around the world.
This week on April 2, the summit will not only tackle the financial crisis, but it will also try to develop a stimulus plan to tackle global climate change.
This week’s meeting
One of the hopes of British Prime Minister Gordon Brown for the summit is to deal directly with the threat of climate change, which has become a huge factor in the economic downfall of many countries. Due to climate change, some countries have been unable to produce crops, they don’t have access to clean drinking water and homes have been destroyed.
This week’s G-20 meeting all comes before a new climate treaty that hopes to be signed in Copenhagen next week. This treaty hopes to create a $2-3 trillion global stimulus on green causes, such as building wind energy farms that will create new jobs and focus more on green energy.
So, how else would bringing up the topic of global climate change positively affect the economy? Governments could benefit from investing in green bonds that are invested in clean energy.
What do you think about a global climate change stimulus? After spending trillions to bail out banks, some countries may need more than just some convincing.
Source: Reuters
Hope something fruitful will come out of this meeting. Climate change was never a priority in some countries for whatever reason.
Some believe that we are no longer in “Prention” phase but in “curing” phase. Whatever stimulus the governments are talking about, they should do it in the same seriousness as bailing out banks. The bailouts are not to “prevent” but the “cure”. The bailouts were rushed out in the same manner as rushing a patient to hospital, even with the knowledge that ill-practices such as big fat bonuses are given away.
We should rush the planet earth to hospital now. Spending on research on soar and wind are not of any help. We stimulus should insted pump into places where these equipment can be installed immediately.
Hopefully, a binding climate treaty will be reached, and the earth saved.