A Global 'Green' New Deal Still Within Reach | Asia Society Skip to main content

Unsupported Browser Detected.
It seems the web browser you're using doesn't support some of the features of this site. For the best experience, we recommend using a modern browser that supports the features of this website. We recommend Google Chrome, Mozilla Firefox, or Microsoft Edge

  • Arts
    • Arts & Culture
      • Film
      • Literature
      • Performing Arts
    • Asia Society Museum
      • Visit
      • Exhibitions
      • Programs
      • Collection
      • Asia Society Triennial
      • The Asia Arts and Museum Network
      • Learn
    • Asia Arts Game Changer Awards
      • About
      • Honorees
      • Ceremonies
      • Photos
      • Support
    • Creative Voices of Muslim Asia
      • Resources
      • Exhibitions
      • Videos
  • Education
    • Chinese Language Learning
    • Global Education
    • Discover Asia
    • About
  • Policy
    • Asia Society Policy Institute
      • Center for China Analysis
      • Topics
      • Countries & Regions
      • Publications
      • Initiatives
      • Watch & Listen
      • Events
      • About
      • Support Us
    • Center on U.S.-China Relations
      • Home
      • About
      • Projects
      • Events
      • Reports
      • COAL + ICE
    • ChinaFile
      • Reporting & Opinion
      • Conversation
      • Library
      • Multimedia
  • Initiatives
    • Arts
      • Arts & Museum Summit
      • Asia Arts Game Changer Awards
      • The Asia Arts & Museum Network
      • Creative Voices of Muslim Asia
      • U.S.-China Museum Summit
      • U.S.-Asia Entertainment Summit
    • Leadership
      • Asia Game Changer Awards
      • Asia 21 Next Generation Fellows
      • Diversity Leadership Initiatives
      • U.S.-China Dialogue
    • Policy
      • Asia Society Policy Institute
      • Center on U.S.-China Relations
    • Sustainability
      • Asia Society Policy Institute
      • Coal + Ice
  • Countries & Regions
    • Column One
      • Afghanistan
      • American Samoa
      • Armenia
      • Australia
      • Azerbaijan
      • Bahrain
      • Bangladesh
      • Bhutan
      • Brunei
      • Cambodia
      • Central Asia
      • China
      • Cook Islands
      • Cyprus
      • East Asia
      • East Timor
      • Fiji
      • French Polynesia
      • Georgia
      • Guam
    • Column Two
      • Hong Kong
      • India
      • Indonesia
      • Iran
      • Iraq
      • Israel
      • Japan
      • Jordan
      • Kazakhstan
      • Kiribati
      • Kuwait
      • Kyrgyzstan
      • Laos
      • Lebanon
      • Macau
      • Malaysia
      • Maldives
      • Marshall Islands
      • Micronesia
      • Mongolia
    • Column Three
      • Myanmar
      • Nauru
      • Nepal
      • New Caledonia
      • New Zealand
      • Niue
      • North Korea
      • Northern Marianas
      • Oceania
      • Oman
      • Pakistan
      • Palau
      • Palestine
      • Papua New Guinea
      • Philippines
      • Qatar
      • Samoa
      • Saudi Arabia
      • Singapore
      • Solomon Islands
    • Column Four
      • South Asia
      • Southeast Asia
      • South Korea
      • Sri Lanka
      • Syria
      • Taiwan
      • Tajikistan
      • Thailand
      • Tibet
      • Tokelau
      • Tonga
      • Turkey
      • Turkmenistan
      • Tuvalu
      • United Arab Emirates
      • Uzbekistan
      • Vanuatu
      • Vietnam
      • Wallis and Futuna
      • West Asia
      • Yemen
  • Current Affairs
    • Topics
      • Business
      • Climate Change
      • Governance
    • Programming
      • Beyond the Headlines
      • Business of Asia
    • Center on U.S.-China Relations
      • Home
      • About
      • Projects
      • Reports
      • Past Events
    • ChinaFile
      • Reporting & Opinion
      • Conversation
      • Library
      • Multimedia
  • Look & Listen
    • Asia Society Magazine
    • ChinaFile
    • Podcasts
    • Video Gallery
  • Events
    • Upcoming Events
    • Past Events
  • Visit
    • Visit Us
      • Hong Kong
      • New York
      • Texas
    • Global Network
      • Australia
      • France
      • India
      • Japan
      • Korea
      • Northern California
      • Philippines
      • Seattle
      • Southern California
      • Switzerland
      • Washington, D.C.
  • About
    • About Asia Society
    • Inclusion & Diversity
    • Background & History
    • Board of Trustees
    • Senior Leadership
    • Global Staff
    • Global Council
    • Careers
    • Interns and Volunteers
    • Financial Statements
    • For the Media
      • Press Releases
  • Support
    • The Campaign for Asia Society
    • Corporate Engagement
      • Business Council
      • Technology and Innovation Council
      • Global Talent and Diversity Council
      • Rising Executives Network
      • Enhancements to Membership
      • Corporate Membership
      • Global Corporate Leaders
    • Membership
    • Donate
    • Donor Privacy Statement
ASIABLOG
Subscribe
Search
  • Arts
    • Arts & Culture
      • Film
      • Literature
      • Performing Arts
    • Asia Society Museum
      • Visit
      • Exhibitions
      • Programs
      • Collection
      • Asia Society Triennial
      • The Asia Arts and Museum Network
      • Learn
    • Asia Arts Game Changer Awards
      • About
      • Honorees
      • Ceremonies
      • Photos
      • Support
    • Creative Voices of Muslim Asia
      • Resources
      • Exhibitions
      • Videos
  • Education
    • Chinese Language Learning
    • Global Education
    • Discover Asia
    • About
  • Policy
    • Asia Society Policy Institute
      • Center for China Analysis
      • Topics
      • Countries & Regions
      • Publications
      • Initiatives
      • Watch & Listen
      • Events
      • About
      • Support Us
    • Center on U.S.-China Relations
      • Home
      • About
      • Projects
      • Events
      • Reports
      • COAL + ICE
    • ChinaFile
      • Reporting & Opinion
      • Conversation
      • Library
      • Multimedia
  • Initiatives
    • Arts
      • Arts & Museum Summit
      • Asia Arts Game Changer Awards
      • The Asia Arts & Museum Network
      • Creative Voices of Muslim Asia
      • U.S.-China Museum Summit
      • U.S.-Asia Entertainment Summit
    • Leadership
      • Asia Game Changer Awards
      • Asia 21 Next Generation Fellows
      • Diversity Leadership Initiatives
      • U.S.-China Dialogue
    • Policy
      • Asia Society Policy Institute
      • Center on U.S.-China Relations
    • Sustainability
      • Asia Society Policy Institute
      • Coal + Ice
  • Countries & Regions
    • Column One
      • Afghanistan
      • American Samoa
      • Armenia
      • Australia
      • Azerbaijan
      • Bahrain
      • Bangladesh
      • Bhutan
      • Brunei
      • Cambodia
      • Central Asia
      • China
      • Cook Islands
      • Cyprus
      • East Asia
      • East Timor
      • Fiji
      • French Polynesia
      • Georgia
      • Guam
    • Column Two
      • Hong Kong
      • India
      • Indonesia
      • Iran
      • Iraq
      • Israel
      • Japan
      • Jordan
      • Kazakhstan
      • Kiribati
      • Kuwait
      • Kyrgyzstan
      • Laos
      • Lebanon
      • Macau
      • Malaysia
      • Maldives
      • Marshall Islands
      • Micronesia
      • Mongolia
    • Column Three
      • Myanmar
      • Nauru
      • Nepal
      • New Caledonia
      • New Zealand
      • Niue
      • North Korea
      • Northern Marianas
      • Oceania
      • Oman
      • Pakistan
      • Palau
      • Palestine
      • Papua New Guinea
      • Philippines
      • Qatar
      • Samoa
      • Saudi Arabia
      • Singapore
      • Solomon Islands
    • Column Four
      • South Asia
      • Southeast Asia
      • South Korea
      • Sri Lanka
      • Syria
      • Taiwan
      • Tajikistan
      • Thailand
      • Tibet
      • Tokelau
      • Tonga
      • Turkey
      • Turkmenistan
      • Tuvalu
      • United Arab Emirates
      • Uzbekistan
      • Vanuatu
      • Vietnam
      • Wallis and Futuna
      • West Asia
      • Yemen
  • Current Affairs
    • Topics
      • Business
      • Climate Change
      • Governance
    • Programming
      • Beyond the Headlines
      • Business of Asia
    • Center on U.S.-China Relations
      • Home
      • About
      • Projects
      • Reports
      • Past Events
    • ChinaFile
      • Reporting & Opinion
      • Conversation
      • Library
      • Multimedia
  • Look & Listen
    • Asia Society Magazine
    • ChinaFile
    • Podcasts
    • Video Gallery
  • Events
    • Upcoming Events
    • Past Events
  • Visit
    • Visit Us
      • Hong Kong
      • New York
      • Texas
    • Global Network
      • Australia
      • France
      • India
      • Japan
      • Korea
      • Northern California
      • Philippines
      • Seattle
      • Southern California
      • Switzerland
      • Washington, D.C.
  • About
    • About Asia Society
    • Inclusion & Diversity
    • Background & History
    • Board of Trustees
    • Senior Leadership
    • Global Staff
    • Global Council
    • Careers
    • Interns and Volunteers
    • Financial Statements
    • For the Media
      • Press Releases
  • Support
    • The Campaign for Asia Society
    • Corporate Engagement
      • Business Council
      • Technology and Innovation Council
      • Global Talent and Diversity Council
      • Rising Executives Network
      • Enhancements to Membership
      • Corporate Membership
      • Global Corporate Leaders
    • Membership
    • Donate
    • Donor Privacy Statement

A Global 'Green' New Deal Still Within Reach

August 18th, 2011
(United Nations Photo/Flickr)

The latest turmoil in global stock markets following Standard & Poor’s decision to downgrade its rating of the United States government has led many to fear another serious economic downturn. We asked our Sustainability Roundtable to discuss what hopes might exist for global cooperation on sustainability issues like food security, energy policy, and climate change amid a renewed economic crisis. Is it possible for any of these issues to play an important part of international policy discussions?

Shen Yamei is an assistant research fellow specializing in American foreign policy and China-US relations at the China Institute of International Studies (CIIS).

In the Chinese ideogram, "crisis" is the combination of risk and opportunity. While growing uncertainties and fears of a prolonged recession have made the global development agenda more difficult to pursue, the economic downturn, in parallel with the persisting food crisis and ongoing climate change, does offer a real opportunity for achieving sustainable development — albeit against strong odds.

At face value, the three dimensions of sustainable development (i.e. its economic, social and environmental dimensions), unfold along different trajectories. Deep down they correlate substantially with each other. Countries could use the tight breathing space in the course of the economic slowdown to strengthen strategic planning work and fully incorporate sustainability considerations into overall development scenarios.

To walk out of the multi-layered economic, social and environmental labyrinth, it is far from enough merely to manage financial flows with ethics and responsibility. The U.S. credit rating downgrade amid a mounting debt situation is the latest testimony to the transient life of massive counter-cyclical fiscal stimuli in shoring up the economy. Implementing fundamental and structural policy reforms with concerns for economic growth patterns, social welfare and environmental sustainability is a pressing need.

In March 2009, the United Nations Environmental Program issued a report on the Global Green New Deal. The report recommended a bigger share of investment in greening the world economy, so as to bring about economic recovery in the short term while laying the foundation for sustainable development in the long run. In that vein, the search for new growth points in the post-crisis world economy must incorporate energy and environmental concerns.

To illustrate: the architecture for the financial system needs to be re-written as countries prepare to create the next generation framework of global emissions governance. And conversely, conservation and renewable energy policy could be more appealing when it does not take an excessive toll on economy in general and in particular for countries and regions where basic food supply still matters.

In addition, to address sustainability issues like food security, energy shortage and climate change, the potential in developing sustainable agriculture, low-carbon manufacturing industry, and labor-intensive tertiary industry is huge.

However, even though many countries have put forward green strategies in order to escape the legacy of the international financial crisis, the green economy is still in an initial phase of development. Countries will not be immune from practical and cost-benefit calculations such as how much it will cost to upgrade traditional industries to a green level, how deep the green mode can soak into modern production and lifestyles, and how much of a competitive edge the green economy will bring for them. In all, the situation is grim, but not hopeless.

economic crisis
green
shen yamei
sustainability roundtable
sustainable development
unep
china
asiablog
east asia
About
  • Mission & History
  • Our People
  • Become a Member
  • Career Opportunities
  • Corporate Involvement
visit us
  • Hong Kong
  • New York
  • Texas
global network
  • Australia
  • France
  • India
  • Japan
  • Korea
  • Northern California
  • Philippines
  • Seattle
  • Southern California
  • Switzerland
  • Washington, D.C.
resources
  • Arts
  • Asia Society Magazine
  • ChinaFile
  • Education
  • Policy
  • Video
shop
  • AsiaStore
initiatives
  • Arts & Museum Summit
  • Asia 21 Next Generation Fellows
  • Asia Arts Game Changer Awards
  • Asia Game Changer Awards
  • Asia Society Museum: The Asia Arts & Museum Network
  • Asia Society Policy Institute
  • Asian Women Empowered
  • Center on U.S.-China Relations
  • Coal + Ice
  • Creative Voices of Muslim Asia
  • Global Cities Education Network
  • Global Talent Initiatives
  • U.S.-Asia Entertainment Summit
  • U.S.-China Dialogue
  • U.S.-China Museum Summit
Connect
Email Signup For the media
Asia Society logo
©2023 Asia Society | Privacy Statement | Accessibility | Terms & Conditions | Sitemap | Contact

Asia Society takes no institutional position on policy issues and has no affiliation with any government.
The views expressed by Asia Society staff, fellows, experts, report authors, program speakers, board members, and other affiliates are solely their own. Learn more.

 

 

  • Visit Us
  • Hong Kong
  • New York
  • Texas
  • Global Network
  • Australia
  • France
  • India
  • Japan
  • Korea
  • Northern California
  • Philippines
  • Seattle
  • Southern California
  • Switzerland
  • Washington, DC