Thursday, June 03, 2010

SOME PARTS OF ASIA ARE SURGING FORWARD WITH GREEN INVESTMENT

SOME PARTS OF ASIA ARE SURGING FORWARD WITH GREEN INVESTMENT

By Kevin Stoda, Philippines

According to the Jerry Liao’s report in TECH101 this past month, “Asia is surging forward with green investments.” The article bases its reporting on Edward Barbier’s recent book and on UNEP’s work through the University of Wyoming on new global green deals. China and the Republic of Korea are leading the planet with 3 percent of their GDP on greener technologies and greener economic initiatives. Saudi Arabia is investing about 1.7 percent of its GDP in the same manner, with Australia at 1.2 percent. This contrasts with the USA, which currently has only 0.7 percent of its GNP targeted towards global green technologies and economic development. (Surprisingly, Germany, formerly a global leader in this area, is doing even worse in 2010-perios with only 0.5 percent of its stimulus packages targeted to green energy, green technology, and greener economic development.)

While it is true that the current U.S. administration’s stimulus package targets 12 percent of its monies towards developing greener energy and markets, the U.S. is barely competing with China, which is spending nearly 1/3 of its current stimulus package on such green sectors of the economy. This is especially notable because ‘China is already the leading global producer of solar cells, wind turbines and solar water heaters.” This means that already one million people are actively working in these sectors in China. Moreover, China is making massive spending increases in greener mass transport, i.e. trains and better rail services, now and during this coming decade.

Meanwhile, South Korea’s “green new deal plan’s allocating 95 percent of its fiscal stimulus or three percent of its GDP into environmental sectors including low emission vehicles. Its five year green growth investment plan . . . . will spend $60 billion to cut carbon dependency with the aim of boosting economic growth to 2020 and generating up to 1.8 million jobs.”

The author of this summary of UNEP and Professor Barbier’s research published in TECH101, Jerry Liao, also noted, “In the techworld, we will find I.T. providers embracing green technologies as well. Check out the latest notebooks, LCD panels, printers, and other devices, most of which contains green components.”

However, Liao’s main message to Filipino readers lies in his introduction to the article, “With green issues such as climate change and carbon emissions gaining prominence everyday, each one of us should make it a concern on how to save planet Earth from all those dangers. “ He then explains that it is also in the best interests of every corporation to get involved.

This is the kind of prioritizing which Western economies need to be focusing more on when they talk of reform and how to implement change.

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