Since its debut last year, the Green New Deal has created quite a stir in Washington. Some have praised it as the most ambitious national project since Franklin Roosevelt’s New Deal, while others have dismissed it as a green dream. Earlier this week, Rep. Alexandria Ocasio-Cortez (D-NY) and Sen. Ed Markey (D-MA) partnered to introduce a preview of this bold new effort to address both economic inequality and climate change.
In this episode of Columbia Energy Exchange, host Jason Bordoff is joined by one of the architects of the Green New Deal, Rhiana Gunn-Wright. Rhiana is the Policy Director for New Consensus, the progressive policy shop advancing the deal. She breaks down the thinking behind this sweeping plan, which calls for 100% clean energy as well as affordable housing and high-quality healthcare. They discuss the speed, scale and scope of the Green New Deal, and the collective spirit driving the new policy.
It has now been just over a year since the US signed into law the Inflation Reduction Act and already, it has been followed by more than US $110 billion in clean energy investments.
Rising debt levels and the ravages wrought by climate change present acute threats to achieving sustainable development goals in emerging market and developing economies.
As the world races to transition to cleaner energy sources, there exists a substantial gap between the financing required for this transition and the actual investments being made.