TD Economics: Environmental Policy Creates Economic Benefits for Cities
Incorporating environmental elements into urban development strategies fosters economic growth and strong environmental performance
CHERRY HILL, N.J., December 17, 2013 /3BL Media/ – Local cities and municipalities play a crucial role in greening the economy, according to a report released today by TD Economics (www.td.com/economics), an affiliate of TD Bank, America’s Most Convenient Bank®. By creating a bottom-up framework for consumers, businesses and government to improve environmental performance cities are also able to create jobs, improve living conditions and foster economic growth.
The report, titled “The Greening of New York City: Lessons from the Big Apple,” cites New York City (NYC) as an example of how municipal policy-makers are able to green the overall economy by incorporating environmental elements into urban development strategies.
According to the report, integrating environmental elements into solutions for urban development issues has multiple benefits. Improved environmental conditions can increase property values, create jobs, improve public health and enhance the quality of life. NYC specifically has demonstrated that by combining regulatory, financial and infrastructure policies, city officials can create conditions that will naturally motivate the greening of the economy.
“Local municipalities are at a unique advantage to develop tailored policy that is both good for the environment and the economy,” said Craig Alexander, SVP and Chief Economist at TD, who authored the report. “These policies create a range of opportunities. Businesses, consumers and government can engage the traditional market place to green the economy and create a cleaner, brighter world for current and future generations.”
To view the full report, please visit: http://www.td.com/document/PDF/economics/special/GreeningofNYC.pdf
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