Due to the consequences of the coronavirus pandemic, a tenth of the economic rescue programs launched in countries around the world are being spent in an environmentally conscious manner, according to a report by Vivid Economics. According to the consultancy, the promised “green relaunch” will be missed and the economic recovery will lead to environmental damage in general.
In the international total, only 10.6 percent of the $17.2 trillion economic recovery, or
$1.8 trillion goes to the green sectors,
Researchers mean actions and initiatives that reduce renewable energy, agriculture, waste recovery, or greenhouse gas emissions, or enhance biodiversity.
In each country, 20 out of 30 countries fell into the Green Stimulus Index (GSI) rating for their environmental spending. At the same time, the GSI improved for the most populous countries – China, India and the United States -.
Most of the public funds that were spent as a result of the epidemic went to saving individual aid or saving the afflicted sectors.
ziccer is missing
According to research, national recovery and resilience building plans for EU members ignore green targets. The research cites as an example that the French state is spending 4.5 billion euros to develop the country’s railway network, which is considered climate-friendly by reducing the use of cars, while destroying natural habitats by extending railways. Most of the €47 billion climate goals program includes natural damage. At the same time, only 1% of the European program of 500 billion euros is spent directly on nature conservation programs such as afforestation or restoration of natural habitats.
It is impossible to justify why public money for revitalization does more harm than good for climate and biodiversity. Nature has been particularly neglected, with less than a dozen countries spending on habitat restoration. By ignoring nature, we are missing out on a triple opportunity for victory in economy, climate and biodiversity
Said Jeffrey Baez, lead author of Vivid Economics.
According to the report, Canada and Denmark have made the biggest efforts to turn their economies green through post-pandemic spending. The United Kingdom, Spain, France, Germany, Sweden and Finland managed to achieve clear positive results, while Japan, South Korea, Italy and Australia missed opportunities presented by the green restart.
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