"Governments in rich countries pledged last year to spend trillions of dollars
to rescue their economies from the trough of the pandemic — and to channel that
gusher of cash in ways that would aid the fight against climate change.
The climate change strategy largely failed.
More than 18 months later, mounting evidence shows that the spending did little
to alter the trajectory that has the planet on a path toward blowing through
global emissions targets. In fact, much of the stimulus spending was directed
toward a “brown” recovery that pumped money into polluting industries and
energy sources like coal, oil and natural gas. Nations unleashed their spending
in a way that was open to all sectors, helping their incumbent industries
rather than funding the promised transformation to a clean economy.
The failure to deliver on pledges made just last year presents a grim backdrop
as nearly 200 countries prepare to gather in November in Glasgow, Scotland, for
the latest round of global talks to rein in greenhouse gases and cope with
problems already arising from climate change. That meeting comes while much of
the world faces a global energy shortage as it emerges from the pandemic that
has sent prices soaring, even prompting the climate-focused White House to ask
oil executives how they might tamp down fuel costs.
“The world missed an opportunity to have a green recovery,” said Alice Hill,
who ran climate resilience efforts in former President Barack Obama’s National
Security Council. “We hoped it would. But it didn’t.”
Recent analyses conducted by think tanks, consulting firms and international
governance organizations show that the trillions of dollars were pumped into
the global economy to sustain it through the worst of the pandemic. But rather
than focusing on measures to eliminate carbon emissions from energy and
transportation systems or help prepare countries for the effects of a warming
planet, the spending flowed across many sectors of the economy that have long
been contributors to climate change."
Via Robert Sanscartier.
*** Xanni ***
Chief Scientist, Xanadu
Partner, Glass Wings
Manager, Serious Cybernetics