Green New Deal Geopolitics

Over a decade ago, the world slid into the worst economic and financial crisis since the Great Depression. Governments cobbled together multi-billion dollar economic stimulus packages as a response. This crisis gave birth to the concept of the Green New Deal. The idea of using economic stimulus packages to simultaneously boost the economy and prevent climate change was gaining traction. Unfortunately, few national governments pursued it.

A decade later, the opportunity has re-emerged. The world economy is again — a decade later — standing on the brink of an economic downturn amid climate catastrophe. In this situation, a Green New Deal, as formulated ten years ago, would be a win-win.

The new European Commission led by President Ursula von der Leyen has come to accept this reality and has unveiled its “European Green Deal”. This European flagship policy is a new economic growth strategy that aims to turn the EU into the world’s first climate-neutral continent by 2050. It is about time the Commission advanced such an agenda, something similar to what Greens across Europe have been backing for years.

The Green New Deal was always about connecting economic and climate issues and addressing them simultaneously. It allowed the Greens to formulate a coherent economic and financial policy and break out of their eco-niche as they grew up politically…