Green Economy Coming Despite Downturn

Good green jobs are on the way - just not right away due to recession. Stimulus funds - not just from U.S. but many nations are investing in their economies by targeting renewable energy, smart electricity grids, energy efficiency, and more.

2 minute read

March 17, 2009, 11:00 AM PDT

By Irvin Dawid


"HSBC, the international banking group, forecasts that the market for wind energy will drop by 20 per cent in 2009, the first time in years that wind companies have seen anything but rapid growth.

Recycling has suffered a serious blow as the price of commodities has plunged...Environmental consultancies are also facing a tough year.

Yet, despite these portents of gloom, there are reasons to be cheerful for both businesses in the sector and companies looking to improve their environmental performance. One is that a large amount of money is about to enter the "green" economy, with the stimulus packages governments are concocting as a cure for the financial crisis. About $430bn of the planned $2,800bn of stimulus spending is likely to go on green measures, according to HSBC."

From A massive injection of clean energy cash:

"The economic stimulus, amounting to more than $2,800bn, is being compared with the "New Deal" programme of spending on national infrastructure initiated by Franklin D Roosevelt in the 1930s, in his attempt to pull the US out of Depression.

But this time, many of the governments involved are looking to focus large slices of their funds on projects that will help change the footing of the world economy, away from its high consumption of fossil fuels to a low-carbon basis.

The phrase "green new deal" means different things in different countries, but broadly it refers to the argument that if we direct the stimulus spending into building more of the same kind of infrastructure that we already have, such as coal-fired power plants and petrol-guzzling vehicles, it will result in ever-increasing greenhouse gas emissions, provoking a global warming crisis."

Friday, March 13, 2009 in Financial Times - Business & The Environment

portrait of professional woman

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Cover CM Credits, Earn Certificates, Push Your Career Forward

Logo for Planetizen Federal Action Tracker with black and white image of U.S. Capitol with water ripple overlay.

Planetizen Federal Action Tracker

A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

July 16, 2025 - Diana Ionescu

Green vintage Chicago streetcar from the 1940s parked at the Illinois Railroad Museum in 1988.

Chicago’s Ghost Rails

Just beneath the surface of the modern city lie the remnants of its expansive early 20th-century streetcar system.

July 13, 2025 - WTTV

Blue and silver Amtrak train with vibrant green and yellow foliage in background.

Amtrak Cutting Jobs, Funding to High-Speed Rail

The agency plans to cut 10 percent of its workforce and has confirmed it will not fund new high-speed rail projects.

July 14, 2025 - Smart Cities Dive

Worker in yellow safety vest and hard hat looks up at servers in data center.

Ohio Forces Data Centers to Prepay for Power

Utilities are calling on states to hold data center operators responsible for new energy demands to prevent leaving consumers on the hook for their bills.

July 18 - Inside Climate News

Former MARTA CEO Collie Greenwood standing in front of MARTA HQ with blurred MARTA sign visible in background.

MARTA CEO Steps Down Amid Citizenship Concerns

MARTA’s board announced Thursday that its chief, who is from Canada, is resigning due to questions about his immigration status.

July 18 - WABE

Rendering of proposed protected bikeway in Santa Clara, California.

Silicon Valley ‘Bike Superhighway’ Awarded $14M State Grant

A Caltrans grant brings the 10-mile Central Bikeway project connecting Santa Clara and East San Jose closer to fruition.

July 17 - San José Spotlight