Support a Green New Deal?
By Daniel J. McLaughlin
The Green New Deal has started to gain popularity around the world, with many taking inspiration from the 10-year plan put forward by some Democrats.
It is a proposal to avert the climate disaster, create jobs and address inequality.
Donald Trump is not a fan, arguing that the United States' energy production would vanish under the Green New Deal.
However, others have shown that it would "pay for itself".
Trump warns that the Green New Deal would turn the US into a "hermit nation", the New York Post reports.
The US president told a rally in New Mexico on Monday that the country’s energy production "all goes away" under the Green New Deal.
He said: "You can forget it. No more cows, no more airplanes, no more trips."
Trump also said that Americans would only be able to have a single, electric car.
He added: "You’re not allowed to drive more than 162 miles. They’ll call us the hermit nation. We’ll never leave our house."
Trump hinted that he would use the Green New Deal to attack the Democrats in the 2020 election campaign. He said: "No it’s crazy, but that’s OK. I don’t want to do it too early because maybe they’ll change.
"They want to get rid of your energy. Explain that one."
However, Ann Pettifor says that the beauty of a Green New Deal is that it would pay for itself.
In an article for the Guardian, The Case for the Green New Deal author argues that governments do not need to raise taxation to "transform their economies and avert climate disaster".
Pettifor says that there are two sources of financing that governments can use to fund it: borrowing from a loan or issuing a bond, and using existing savings.
She explains: "To raise the money for a green deal, governments would have to draw on their equivalent of a giant credit card, but would also be able to take advantage of investment by savers.
"Thankfully, the creation of millions of jobs will generate the income and tax revenues needed to repay any borrowing."
When a government borrows, she adds, it leads to investment and the creation of paid jobs in both the public and private sectors, as well as generating profits for the private sector. This generates tax revenues, which can be used to pay back the borrowing.
Green New Deals have been touted in different countries. The US version started as a House resolution, introduced by Alexandria Ocasio-Cortez on Feb 7 and co-sponsored by 60 House Democrats.
A companion measure was introduced by Ed Markey in the Senate, and was co-sponsored by nearly a dozen Democrat senators.
Under the Green New Deal resolution, the US would look to eliminate pollution and greenhouse gas emissions "as much as technologically feasible". It states there should be a collaboration with farmers and ranchers to remove pollution and emissions from the agriculture sector.
It requires the building or upgrading of energy-efficient and 'smart' power grids, "clean, affordable and accessible" public transport, and universal access to clean water.
The resolution also requires the building of infrastructure to deal with extreme weather, exacerbated by climate change.
The 10-year plan also addresses social issues, such as providing high-quality education, the creation of high-wage jobs, strengthening labour unions, and fighting inequality.