OECD pledges to encourage 'green investment' for economic growth+

PARIS, June 25 Kyodo -
The Organization for Economic Cooperation and Development pledged Thursday to
stimulate global economic growth by encouraging ''green investment'' and
creating employment as the ministers from the club of wealthy nations closed
their annual meeting in Paris.

The ministers from the 30-member organization, who hailed some ''signs of
(economic) stabilization,'' shared the view that the worst part of the global
recession is almost over, and that the focus is now shifting to how to exit
from the emergency stimulus measures they have taken.
They confirmed the importance of green investment, calling on major economies
to lead the development of energy-saving technologies, which they believe would
create new jobs and help the global economy recover from the current downturn.
''Green growth will be relevant going beyond the current crisis, addressing
urgent challenges,'' including the fight against climate change and the
creation of new engines for economic growth, the OECD said in its Declaration
on Green Growth, adopted at the end of the two-day meeting.
''The crisis should not be used as an excuse to postpone crucial decisions for
the future of our planet,'' the ministers said in the document.
What they discussed will be reflected at the summit meeting of the Group of
Eight advanced nations scheduled next month in Italy.
Under the growth strategy based on the green investment, the OECD secretariat
will work out specific policies and submit an interim report on the progress of
its work at next year's ministerial meeting.
The ministers said in a separate statement compiling the outcomes of the
ministerial talks, ''We welcome some initial signs of stabilization in a number
of countries.''
As for possible exit strategies from emergency policies, however, they said it
is unlikely that countries can proceed at a unified pace as the economic
environment is different in each country.
They also said that once the economy recovers, governments need to take
policies that would improve fiscal health, due apparently to concerns that
emergency spending under stimulus packages has hurt public finances in many
countries.
On international trade, they confirmed the position against protectionism and
also agreed on the need to conclude the stalled Doha Round of global trade
liberalization talks as soon as possible.
==Kyodo