‘Green Economy’ Needs $1.3 Trillion Investment Per Year, UN Says

Nations can kick-start a “green economy” by redirecting $1.3 trillion a year from industries that overuse resources to 10 areas ranging from forestry to buildings, the United Nations Environment Program said.

The expense -- about 2 percent of economic output -- would help cut greenhouse gases and avoid price shocks associated with a dependence on fossil fuels and other commodities, UNEP said today in a report.