Green technology investment to combat recession
Investment in green technology and infrastructure should be boosted if governments want to avoid recession, according to a new report.
Deutsche Asset Management (DeAM) has published a study calling on governments to stimulate their economies by investing in green technology and committing to combat climate change.
Rather than back away from reducing carbon emissions because of a degrading financial situation, DeAM urged countries to see investment in the clean technology sector as a way of avoiding recession.
Mark Fulton, DeAM's global head of climate change investment research, said: "The current crisis is making the necessity of tackling climate change an opportunity to stimulate growth through investment opportunities."
The report echoes promises made by Gordon Brown at a conference of the British Wind Energy Association.
He affirmed the government's commitment to keeping carbon emissions and renewable targets.
Mr Brown said that sticking to the climate change goals would create 160,000 jobs and a renewables market worth £100 billion.
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