What is the Green New Deal?

The Green New Deal is a proposed package of legislation in the United States, designed to tackle climate change. It was introduced by Democrats and could revolutionise the American economy, if it is ever put into practice.

If the name “Green New Deal” sounds familiar, it’s likely because it refers to President Roosevelt’s New Deal of the 1930s. That consisted of a series of public works programs and financial reforms, aiming to revive the economy in response to the Great Depression of 1929.

This important moment in American history is indeed inspiring the left wing, who wish to implement a Green New Deal. They believe that global economic and environmental crises are both caused by a system which is at breaking point. And that if governments do nothing to combat this, we could be on our way to disaster.

The proposals call for a 10-year mobilisation to drastically reduce carbon emissions in the USA. Firstly, fossil fuels (gas, carbon and petrol) would be abandoned and workers would be trained to perform new jobs in a post-ecological transition society.

Massive investments in transport, agriculture and energy would be required to make them cleaner. Meanwhile, polluting energies would no longer be subsidized under the Green New Deal. By 2030, 100% of the USA’s electricity would be sourced from renewable and zero-emissions power. To address social justice, the government would have a duty to provide job training to those who previously worked in fossil fuel industries.

One of the leading figures behind the Green New Deal is Democrat congresswoman Alexandria Ocasio-Cortez. She first made history by being the youngest ever woman to be elected to Congress in 2018, and has made a name as a real media phenomenon.

See acast.com/privacy for privacy and opt-out information.

Learn more about your ad choices. Visit megaphone.fm/adchoices

Fast Money 11/02/18