NON-PAPER"GREENELEMENTS FROMMEMBERSTATES´RECOVERY PLANS"

1. The case for a "green new deal"

The global economic crisis is putting unprecedented pressure on Europe. The real economy issuffering from a significant shortfall in demand, financial markets remain volatile and creditchannels are not yet functioning properly. Unemployment is forecast to rise from 7% in 2008to 10.9 %1in 2010. This is testing the EU's resilience and speed of reaction. It is alsochallenging our capacity to co-ordinate and it reinforces the need for solidarity among the 27Member States (MS).The Commission and Member States have responded positively with the Commissionproposing a European Economic Recovery Plan (hereafter 'the Recovery Plan').2Combiningcoordinated national action with EU measures, budgetary support of €400bn3is now beinginjected into the EU economy to boost purchasing power and generate growth and jobs.A central element of the Community part of the EERP has been adopted, with support tostrategic projects in the field of energy, and broadband internet4. Projects in the field ofenergy will amount to €3,980 million, be spread over 2009 – 2010 and broken down asfollows: gas and electricity infrastructure (€2,365 million); offshore wind energy (€565million); carbon capture and storage (€1,050 million)5.One of the strategic objectives of the Recovery Plan is to "speed up the shift towards a lowcarbon and resource efficient economy". It clearly states that the crisis should not deflectattention from the EU's longer-term interests and the need to invest in its future.This orientation was fully supported by the Heads of State and Government at the December2008 European Council6.The case for action on green issues is compelling: climate change and the scarcity ofresources will not disappear. While in the short-term, the urgency to act could be eased dueto reduced economic activity, this will be only a temporary effect. In the longer run,substantial changes in the way that our economy functions are needed to mitigate and adapt toclimate change and a resource-constrained world.The current situation should be used as an opportunity to build a foundation of a new systemas there is clearly scope for the objectives of economic recovery and environmental protectionto complement each other. This is why the Recovery Plan identifies a number of greenmeasures that can be targeted and timely, including actions on climate change, energyefficiency, clean technologies, developing green skills, and promoting green products.123

Economic Forecast, Spring 2009. European Commission, ECFIN, March 2009COM(2008) 800. "A European Economic Recovery Plan"European Council 19/20 March 2009, Presidency Conclusions (7880/09)The package also contains measures to tackle new challenges identified in the "health check" of theCommon Agricultural Policy (CAP): using the existing rural development mechanisms, this would direct€ 0.5 billion to launch the work of tackling these "new challenges": climate change, renewable energy,water management, biodiversity and dairy restructuring.European Parliament legislative resolution of 6 May 2009 on the proposal for a regulation of theEuropean Parliament and of the Council establishing a programme to aid economic recovery by grantingCommunity financial assistance to projects in the field of energy (COM(2009)0035 – C6-0049/2009 –2009/0010(COD))Council document no. 17271/08, Presidency conclusions.

Strategically, greening the economy is also a no-regret option. Saving energy and resourcesimproves overall productivity. Thus, for businesses, improving carbon-efficiency should cutcosts and improve their international competitiveness. For the economy at large, they providean opportunity to accelerate the structural reforms needed for the transition to a low-carboneconomy as well as bolstering aggregate demand by encouraging private investment,improving productivity, stimulating new technologies and providing an infrastructure thatallows for strong and sustained growth in the future. With a longer term view, such measuresmay contribute to fighting future food shortages, natural resources scarcity, and helpingenergy security.Also, environmental investments are often relatively job-rich7and contribute to job creationin many sectors of the economy that are not directly dependent on the environment, such asthe construction sector and manufacturing. One possible barrier to green jobs is lack of theright skills. However, this challenge is also an opportunity. Retraining and boosting skillsshould be good for workers and also for the economy and the environment. In combinationwith a tax shift from taxes on labour to taxes on energy use and pollution throughenvironmental tax reform, positive effects on jobs, the economy and the environment can befurther reinforced, also in a longer-term perspective. There is also a budgetary attraction tofront-loading green investments as part of recovery packages. Such investments willotherwise need to be made in later years, when public budgets will be under more pressurebecause of the debts accumulated during the current economic crisis. At the same time, weneed to avoid investments that lead to increased greenhouse gas emissions (and extra costs) inthe future.Some first elements of a'Green New Deal'can thus be seen in many Member States'economic recovery packages (which in some cases besides national recovery plans, includeregional recovery plans and individual measures). But beyond discussions at EU level, thereis also an emerging global consensus that this needs to be one of the ways forward. Severalrecent analyses all point in this direction8. Countries ranging from Japan to South Korea tothe USA have all announced steps to green their own economies through their recovery plans(see box below).In the conclusions of the Environment Council of 3 March 2009, the Commission is requestedto "compile green elements from Member States´ crisis response"9. The remainder of thispaper is a first response to this request. It identifies such elements on the basis of informationfrom public sources or provided by Member States.

2. Analysis of Member States' recovery packages

2.1. Main features

The European Economic Recovery Plan has identified the need for a coordinated response –at the EU and at national and regional levels – to address the current economic situation.Since then a large number of Member States have developed recovery plans10.7

The first message to be drawn from an analysis is that approaches vary between MS. The totalsize of national anti-crisis packages11differ between MS (e.g. from €100 million in MT to€81 billion in DE, and from 0.1 % of GDP in CY to 2.3% of GDP in ES12). Some MS havedeveloped overall recovery plans covering macro-, micro-economic and employment relatedissues, while other MS have adopted separate documents (at national and/or regional levels)to address, for example, macro-economic or environment related issues. Some MS have notadopted any recovery plan, but rather have adapted their National Reform Programmes to thecurrent situation.

Box 1. National recovery plans in the context of Community policy frameworks

Member States´ recovery plans are implemented in the context of Community policy, fundingand regulatory frameworks. Many of the recovery measures have a sectoral and a national orlocal dimension. While designing their recovery measures, it is important that MS shouldrefrain from creating any direct or indirect barriers to free movements within the

Internal

Market

and should comply with

state aid

rules13.Since the start of the crisis, some Community frameworks have been adjusted in ways thatfacilitate green national measures:••The possibility to use European

Cohesion Policy

funding to invest in energy-efficiencyand renewable energy in the field of housing has been extended to all Member States.Governments' and EIB support in form of

subsidised guarantees and loans

have beentargeted to help overcome the current financing problems for R&D and innovationprojects. For example, eco-innovative products can benefit from financing from the RiskSharing Finance Facility, a joint Commission-EIB fund in support of private R&Dprojects.The Commission adopted in December 2008 a

temporary state aid framework

providing Member States (until end 2010) with, inter alia, additional possibilities to grantsubsidised loans for the production of green products, early adapting to or going beyondfuture Community product standards which increase environmental protection. MemberStates are using the possibilities resulting from this framework and a number of decisionshave been taken on this basis.One of the recovery measures is to speed up

public procurement procedures

to facilitatepublic investment and government consumption. The Commission recognized that thecrisis justifies the accelerated procedure for major public projects. In its national recoveryplan, IE plans to introduce environmental considerations into the public procurementprocess in 2009. LV also plans to promote green public procurement.

their recovery packages are new measures to be introduced as a response to the current crisis,measures that had already been identified in earlier adopted programmes or that had beenforeseen in any case but have been brought forward and adjusted to address the crisis.Furthermore, some MS are developing or continue to implement environmental plans that arenot part of announced recovery plans. The number of foreseen "green measures", as well asdepth of the approach also varies significantly from one Member State to another. Informationon these 'green measures' was obtained from a number of different sources, varying from MSofficial documents to public sources14.The total

sizes

of the "green" parts of MSs' packages differ between countries. According tosome analysts, the share "green" efforts range from 1.3% in Italy to 13% in Germany, and21% in France15; the size depends a lot, however, on the definition of what are the greenelements and on the definition of what belongs to the package.In general, the

'green' elements

identified by most of the MS in their recovery plans areenergy efficiency, renewable energy, development of public transport and infrastructure andcar scrapping schemes. Fewer MS identified eco-technology and innovation, water and wastetreatment, or environmental taxes as a part of their anti-crisis package. Most of the "green"measures foreseen by MS will be used in their fight against climate change, thus they willcomplement national measures to implement the Community climate change package as theywill help to achieve GHG reduction targets.As concerns the

type of instrument,

Member States used public investment, loans and loanguarantees, and subsidies. A few MS have also indicated their intention to use allocationsfrom EU funds (Structural and Cohesion Funds), as well as loans from the EIB. A number ofMS also foresee the use of broader fiscal instruments, varying from household tax deductions(i.e. for energy efficiency projects) to taxes on pollution.As for the

timing

of foreseen "green" measures, a number of MS (AT, BE, CZ, DE, DK, EE,ES, FI, FR, IE, IT, LT, LV, NL, PT, SE, SI, UK16) plan an immediate implementation ofmeasures, starting in 2009 and covering either one year, two (2009-2010) or three years(2009-2011) periods. Additionally, the UK foresees bringing forward capital spending forenergy efficiency related projects from 2010-2011.

Box 2. The stimulus packages of non-EU countries

In response to the global crisis, US, Japan, China and South Korea prepared their recoveryplans, the sizes of which vary from $787bn in US (5.5% of GDP) and $586bn in China (7.4%of GDP) to 38.1bn € (3.0% of GDP) in South Korea. Interestingly enough, the percentage ofgreen measures included in them vary widely – they range from 69% in South Korea through34% in China and 17% in the US to 2% Japan respectively. Japan concentrates solely onenergy efficiency measures, whereas South Korea supplements these measures with waste andwater investments. Major areas of investments in China cover electricity grids and railinfrastructure. Water conservation initiatives are also undertaken. The US stimulusencompasses the biggest range of measures: starting with energy efficiency and the promotionof renewable sources of energy (around $43bn) through waste and water treatment and publictransport (around $37bn) up to investments in R&D and innovation ($3.4bn). Fiscalincentives are also envisaged in the plan, mostly through grants and tax credits.141516

2.2. Main green measures in the national recovery plans

a. Energy efficiency

Independent of the European Economic Recovery Plan, all EU Member States have adoptedNational Energy Efficiency Action Plans as mandated by the Energy Services Directive, andmost have started implementing them. The Recovery Plan calls on Member States to setdemanding targets for ensuring that public buildings and both private and social housing meetthe highest European energy-efficiency standards and consider introducing a reduction ofproperty tax for energy saving buildings.Most MS17intend to introduce measures pertaining to energy efficient renovations of publicbuildings and private households. For example, FR is introducing a zero-rate loan for buyingor constructing a low energy house; while a low interest rate loan for energy savinginvestments is to be introduced in AT, BE and EE. FR also foresees measures related toenergy efficiency in agriculture (e.g. tractors, buildings). IE has identified an additionalmeasure regarding accelerated capital allowances for the purchase of energy efficientequipment (e.g. energy efficient data-server systems) by companies. IE also intends tocomplete an East West electricity interconnection and plans a further electricityinterconnection to the UK and the Continent. IE also is to review its Building Regulation, toimprove energy consumption and CO2 emissions by 60% over 2005 standards. Some MSs(LT, SK) plan to use EIB and EBRD loans to finance energy efficiency related projects.MT will provide grants to enterprises to carry out energy audits for their systems. MT alsointends to distribute energy saving lamps to all familiesThe foreseen budget for the planned measures to increase energy efficiency variessignificantly between MS (although the difference in per capita terms is less) – it ranges from17M€ (EE) (12.68€/capita18) to 3.2 billion€ (DE) (38.93€/capita).

b. Renewable energy

The use of renewable energy has generally increased over the last years in the Member States.Nineteen MSs19included measures related to renewable energy in their national recoveryplans. The measures include plans to increase energy generation from wind power plants(EE, FI, HU, IE, LT, MT, NL, PT, UK) and solar power (FR, HU, IT, MT, PT, SK),to investment in ocean energy technologies (IE) in order to increase the share of renewableenergy and to meet the targets that have been agreed upon by the Community.PL supports investments in the field of renewable sources of energy and environmentalinvestments for cities and communal enterprises, while EE plans to invest in alternativeenergy sources in transport. CZ, HU, LV and NL are to promote production and use ofbiomass.The foreseen budget for these measures varies from 8 million euro (1.48€/capita) (SK) to2.8 billion UK £ (3.3 billion euro; 53.93 €/capita) (UK).

c. Transport

More than a half of the MS20have included measures related to development of

public

transport and infrastructure

in the national recovery plans. Similar measures are foreseenin most of these MS, e.g. investments in rail transport (AT, DK, ES, FR, UK), in rail transportinfrastructure (BE, CZ, DE, DK, EL, FR, IT, UK), ports and inland waterway transport(DE, FR, MT). BE and EL also plans investments to metro and tram lines. Additionally, somespecific measures have been identified in a few MS, e.g. CZ is planning to lower railway feesand to invest into rail transportation. ES aims to rebuild its rail network to shift the transportfrom road to rail. DE and FI foresee investment in infrastructure improvements to mitigatenoise. DK and FI plan investments in bicycle paths, while MT is to introduce bicycle grants.IT will finance installation of particulate emissions abatement devices by public transportcompanies.As concerns the budgets, there are between 12 million euro (EE) (8.95€/capita) and 5.5 billioneuro (66.9€/capita) (DE) foreseen for these measures in the MS.Thirteen MS (AT, CZ, DE, ES, FR, IT, LU, MT, NL, PT, RO, SE, SK) are introducing

car

scrapping schemes

on a basis of emission-related criteria, while UK has introduced a carscrapping scheme without identification of such criteria. According to their plans, measuresencouraging replacement of cars over certain age (varying between 9 years in DE, IT, 10years in LU, SK, ES, PT, RO, 13 years in AT and NL) by new cars21with lower emissionswould be put in place. In PT the premium is differentiated depending on the age of thescrapped car. The ambition of the emission-related criteria for the new cars also varies amongMS. Some MS base them on CO2 emissions: for instance, the limit for the new cars is 160gCO2/km in France and Spain, 140g CO2/km in Portugal and Italy. Other MS focus onemissions of conventional air pollutants: in Austria, Germany and Italy new cars have to meetat least the Euro 4 norm. In the NL, a premium is also granted for buying a used car not olderthan 8 years if it meets the Euro 3 norm. Beyond the scrapping scheme, DE is to introduce anexemption on circulation tax for one year on the purchase of new environment-friendly cars in2009. The eco-premium introduced by Portugal varies depending on the age of a car (€ 1,000for cars older tan 10 years, and € 1,250 for cars older than 15 years).

The MS intend to spend between 22.5 million euro (2.7€/capita) (AT) and €5 billion(61€/capita) (DE) on these measures.Beyond budgetary measures, SE intends to tighten the requirements for the share ofenvironmental cars in public procurement; IE intends to develop its national cycling andwalking strategies, while DK plans to provide better parking facilities for bicycles and carsaiming to encourage use of public transport.

d. Eco-innovation

Several national recovery plans also put an emphasis on eco-innovation. Fifteen MS (CZ, DE,DK, EE, ES, FI, FR, IE, LV, MT, NL, SE, SI, SK, UK) identified such measures in theirrespective plans. DK plans to support innovation to improve fuel efficiency. DK and ES planto promote electrical and plug-in hybrid cars, while DE and NL plan to invest in electric cardevelopment. IE aims at achieving 10% of its road transport being electrically powered by2020. IE also announced in its plan an intention to set out a strategy to develop clean energytechnologies. SE will support pilot and demonstration projects for second-generation biofuels.NL, SI and SK are also to promote investment in energy innovation. The elements of DE, SE2021

and UK plans that are aimed at supporting the automotive industry include guarantees tounlock EIB loans to support lending for conversion to lower carbon technologies.IE announced its intention to create Competence Centres with industry, includingCompetence Centres for composites, energy efficiency, bio-energy and bio-refinery.The budgets for these initiatives range from 13 million euro (9.69€/capita) (EE) to 1 billionUK£ (EUR 1.2 bn.;19.61€/capita) in the UK.

e. Water and waste management, nature conservation

Five MSs (FI, FR, MT, NL and UK) have identified in their stimulus packages waterinfrastructure-related measures. The measures vary from measures against rising sea level(NL) and flood defence (UK), to water supply measures and waste water projects (FI, FR,MT).The MS intend to spend between 19.2 million euro (3.62€/capita) (FI) and 20 million euro(0.31€/capita) (FR).The recovery plans of four MSs (EE, FR, MT, UK) contain measures pertaining to reductionof waste generation (EE), converting disused landfills (MT), and investments in technology toconvert food waste into energy (UK). The budgets for these measures range from 8 millioneuro (19.5€/capita) (MT) to 8.5 million UK£ (EUR 10 million; 0.16€/capita) in the UK.Two MS (DK and MT) explicitly mention nature conservation in their national plans.Denmark's Green Growth Plan includes nature conservation within the plan for theagricultural sector. It foresees the reduction of nitrate leaching, phosphorus and pesticides, aswell as increase in nature protection area up to 75,000 ha. MT has identified its plans relatedto new afforestation and the management of protected areas.

f. Fiscal instruments

More than half of the MS (CZ, DE, DK, FI, FR, HU, IE, IT, LT, LU, MT, NL, RO, SE, SI,UK) have also identified new fiscal instruments in their plans, both in terms of taxes onenvironmentally-harmful activities and fiscal incentives for green behaviour:Several countries decided to link car taxation to CO2 emissions. In DE circulation taxes onmotor vehicles will in future partly be linked to the emission of carbon dioxide, in MT aprimarily CO2 emission-based registration tax has been introduced for vehicles, in the NL thebasis for car taxation is changed from list prices to CO2 emissions. IE also intends tointroduce modifications to the vehicle tax system, which should encourage improvements inthe efficiency of the car fleet, and to encourage a move from advanced plug-in hybrid vehiclesto full electric vehicles. LU abolished the deductibility of the motor vehicle tax fromcorporation tax. However, not all measures introduced by the MSs in this area are aimed atgreening their economies. In February 2009, RO decided to reduce the previously increasedcar pollution tax. CZ introduced a VAT deduction on passenger cars for entrepreneurs; ELtemporarily reduced the registration tax on vehicles.Several countries have increased excise duties on fuels or gas (RO, SI, UK) while some ofthem have decreased them (IT). The UK also increased tax differentials between leaded andunleaded petrol and standard and ultra-low sulphur petrol and diesel. LT foresees a cut from80% to 60% the share of excise revenues from the sale of petrol, diesel fuel and energyproducts funding the Road Maintenance and Development Programme. DK intends to7

introduce a "smart road pricing" so that driving in rush hour will be more expensive. LVincreases by 5% a reduced rate for VAT for public transport services, supply of thermalenergy, electricity and natural gas to individuals.As concerns aviation, the UK doubled the air passenger duty and intends to restructure it to afour-distance band structure with the aim of sending better environmental signals. Severalother countries (CY, MT, NL, GR) however, mostly in order to improve the competitivesituation of the tourism sector, took measures going in the opposite direction and decreasedairport landing fees or ticket taxes levied on airline companies.DK is introducing a tax reform, which proposes to lower taxes on personal income in order toincrease employment and to raise taxes on pollution. FI plans an increase of environmentaltaxes for industry and commerce. IE and FR plan to introduce a Carbon Levy/Tax. FI, IT, NLand SE plan to increase household tax deductions to boost repairs and renovation related tohousehold energy use and other issues. Furthermore, IE specifies that its Commission forEnergy Regulation is to carry out a fundamental review of energy prices and tariffs. MT is tointroduce a tax credit for photovoltaic cells. IT introduced a surcharge on the corporation tax,applicable to companies operating in research and exploitation of energy products andelectricity. The revenues are to be distributed, via a system of anonymous pre-paid cards, tothose unable to foot food and energy bills.

3. What can be learned from the national packages?

Taking the available information together, it can be said that most of the MS have taken stepsto use the crisis to green the economy to some extent and maintain their commitment to fightclimate change, however, the intensity of such efforts vary widely between MSs. They haveidentified their measures to be taken in similar fields (namely, energy efficiency, renewableenergy, transport, eco-innovation), while only five MSs (FI, FR, MT, NL and UK) haveidentified measures related to water and waste treatment. Green products related measureswere only very rarely included in the national recovery plans (apart from measures to supportgreener cars).Only seven MS (CZ, DE, EL, FI, IE, NL and UK) make an explicit reference thatimplementation of green measures will lead to creation of green jobs (for details see boxbelow). Ireland will establish a High-Level Action Group on Green Enterprise which willreport to the government within four months, setting out an Action Plan for developing greenenterprise in Ireland.Box 3. Employment impact of green measuresCZ estimates that the implementation of the Green Investment Scheme (amounting to 900 M€) willcreate between 3,900 and 7,900 jobs per year (including secondary effects).EL intends to provide a training programme in “green jobs” combined with guaranteed employment of30% of the trainees (e.g. in the field of sustainable growth, renewable energy, sustainable productionof energy, management of outcast litter, HYTA, re-establishment of landscape etc). This programme istargeted at 7,000 unemployed.IE plans to support workers affected by the construction slowdown, including retraining them in areassuch as installation of sustainable technologies, environmentally sustainable building activities, andcompliance and regulatory work. IE foresees that the Home Energy Saving Scheme (€100 million,through to 2020) might deliver between 3,500 and 4,000 jobs in 2009, while its Sustainable EnergyProgramme will create 8 additional jobs per €1million invested. However, the real impact of themeasure will be broader as it creates opportunities in an otherwise depressed construction market.

NL has indicated that the impact of the energy saving in housing projects (amounting to€277.5 million) could create 10,000 jobs in 2009 and 10.000 jobs in 2010.There are also examples that green jobs lead to new skills: Environmental initiatives in theUK such as installing energy-efficient insulation in the housing sector have already involvedre-training and up-skilling.While some promising examples can be drawn from MS recovery plans, it is not possible tothoroughly assess the quality and efficiency of the measures to be implemented due to thelimited information available at this stage.However, it is also evident that, apart from isolated cases, a number of opportunities were nottaken up in any significant manner. These include: the promotion of resource efficiency(recycling, waste prevention and treatment, water efficiency measures); investing inprotecting and managing ecosystems; greening public procurement.

4. Maximising the green potential of recovery measures

While the analysis of the efficiency of recovery measures would be premature, a number ofreports (see reference list below, chapter 5) have tried to identify the key criteria that suchmeasures, including environmental ones, which often would be in competition with moretraditional investment, would have to meet. These include1.

Timeliness

- it is important to ensure that the green measures can be executed rapidly("front loading") and will have a rapid impact on the real economy. It would also beimportant to show that spending can be easily time-limited so that future pressure onbudgets is reduced.2.

Job creation impact

– The potential to rapidly create quality jobs in the most affectedsectors or regions is a key criterion. As explained above, green investment often havea high multiplier effect on jobs due to substantial secondary employment effects.Investments in energy efficiency in buildings, for example, have a high potential forcreating direct jobs in the construction sector and indirect jobs in downstreamindustries. New infrastructure to adapt to climate change could also provide low aswell as highly skilled jobs in remote rural areas. The job creation potential alsodepends on the availability of skills or the possibility to upgrade them.3.

Supporting vulnerable sectors and social groups

– green measures can be targetedon sectors or resources that are particularly affected by the downturn (for example, inmany Member States the construction sector has considerable over-capacity atpresent). They could also support those social groups most at risk in the current crises(for example, by ensuring that energy-efficient improvements in buildings are targetedat the poorest groups in society)4.

Environmental impact

– green measures should be designed to maximiseenvironmental benefits (for example, car replacement schemes targeted on lowemission cars).5.

Boosting productivity and innovation

– measures that promote energy or resourceefficiency and eco-innovation, e.g. through support to targeted R&D and innovationprogrammes and incentives, can also boost productivity and therefore help –– set firmfoundations for future competitiveness.6.

Synergy effects and policy coherence

– General recovery measures can also support"green solutions", e.g. through easing the credit squeeze that also affectsenvironmental investments or by supporting investments that, indirectly promote9

energy efficiency. On the other hand, other recovery measures should not makeachieving climate change objectives more difficult by subsidising activities thatincrease greenhouse gas emissions.

5. References:

•••••••••

A Climate for Recovery, The colour of stimulus goes green,

Authors: Nick Robins,Robert Clover, Charanjit Singh, HSBC, February 2009

An outline of the case for a ‘green’ stimulus,

Authors: Alex Bowen, SamFankhauser, Nicholas Stern and Dimitri Zenghelis, February 2009

Economic crisis, Rescue Packages in EU 27 and Renewable Energy,

Authors:Doerte Fouquet, Heleen Witdouck, EREF, February 2009

Global Climate Change Regulation Policy Developments: July 2008-February

2009,

Author: DB Advisors, Deutsche Bank Group, February 2009

Estimating the size of the European stimulus packages for 2009,

Authors: DavidSaha and Jakob von Weizsäcker, Breughel, February 2009

UNEP Global Green New Deal,

Policy brief, March 2009

UNEP Background Paper on Green Jobs,

United Nations Environment Program.2008.United Nations Office at Nairobi,Publishing Services Section (UNON) 2008

Climate Change Global. More green money on the table,

Authors: Nick Robins,Roshan Padamadan, Robert Clover, HSBC, March 2009

Towards a Global Green Recovery, Recommendations for Immediate G20

Action,

Authors: Ottmar Edenhofer, Potsdam Institute for Climate Impact Research;Nichol as Stern, Grantham Research Institute on climate change and the environment,April 2009

Taxation trends in the European Union, Data for the EU Member States and

Norway,

Eurostat 2009Presentation on preliminary findings of

"Greening the European Economy:

responses and initiatives by Member States and Social Partners",

Eurofound, June2009,http://greenweek2009.alligence.com/sources/file/day02/Pres-DeCastro.pdf