Age of green economics is upon us: UN

N Secretary-General Ban Ki-moon said that the world is on the cusp of "the age of green economics" and called on nations to cooperate to fight global warming and promote the transformation.

"With the right financial incentives and a global framework, we can steer economic growth in a low-carbon direction," Ban said in remarks prepared for delivery to a Chicago business group.

Ban, who has made the environment a centerpiece of his year-long leadership of the UN, urged the United States and other countries to partner with the "world's only truly global institution" to combat such scourges as climate change, terrorism and infectious diseases. "No nation, alone, can deal with such problems," Ban said.

"Operating effectively in today's world requires partnership. It requires co-operation, engagement and dialogue -- as well as global rules.

"Three-quarters of Americans in surveys believe the United Nations should play a larger role in the world, he said, and a similar proportion say US foreign policy should be coordinated with the international body.

The United States is the biggest single funder of the United Nations though the body has been an object of frequent criticism, particularly from Republicans, for how it is run and for the perception it impedes US goals.

Ban said global investment in green energy is projected to hit $1.9 trillion by 2020, an indication of an economic shift that will rival the industrial revolution and the technology revolution of the past two centuries.

"We're now on the threshold of another (transformation) -- the age of green economics," Ban said. "Businesspeople in so many parts of the world are demanding clear and consistent policies on climate change -- global policies for a global problem," he said.

(via Economic Times.)