This document discusses low-carbon development and the transition to a green global economy. It notes that investment decisions now will affect targets for reducing greenhouse gas emissions by 2050, and that action on climate change now will be cheaper than inaction or late action. Low-carbon growth refers to sustainable economic growth that helps reduce emissions while creating new jobs in green technology and clean energy. The UNDP can assist countries in developing low-emissions strategies and policies to transition to low-carbon economies that reduce poverty and drive sustainable development.