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UN predicts boom in trade of 'green' products

Wednesday - 5/8/2013, 9:18am  ET

GENEVA (AP) -- The U.N.'s environment agency says the global market for low-carbon and environment-friendly goods and services is projected to almost triple to $2.2 trillion by 2020.

The U.N. Environment Program says trade in organic food and beverages is likely to reach $105 billion by 2015, up from $62.9 billion in 2011. Seafood farmed according to certified sustainability standards is forecast to rise to $1.25 billion from $300 million in 2008.

UNEP's 300-page report released Wednesday urges developing countries with abundant renewable resources to reduce poverty by taking advantage of so-called 'green trade.'

Achim Steiner, UNEP's executive director, says that also would help "reverse the global decline in biodiversity, mitigate the release of greenhouse gases, halt the degradation of lands and protect our oceans."

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