Folks at the Environmental Economics blog have a great ongoing discussion on whether "green policies" would create additional jobs in the long run. John Whitehead thinks that "Green government fiscal policy doesn't create jobs in the long run", whereas Mark Thoma thinks that green policies would create jobs in the short run and help stabilize the economy. Mark also argues that the lack of empirical evidence for green policies creating additional jobs does not apply to the current state of the economy.
My 2 ¢: I agree with Mark that green policies would create incentives for job creation in the short-run. However, this should be balanced against the job losses from the traditional sectors of the industry in the long-run. Examples include the potential job-losses in the U.S. (& Indian/Chinese) coal mining industry because of CO2 regulations. Various stakeholders (government, industry, workers and the public) should be involved in environmentally and economically-sound policy making.