As of late summer, governments around the world had pledged $12.2 trillion of relief in response to the coronavirus pandemic. That’s around 15% of global GDP, three times larger than government spending put forward during and after the 2008-2009 global financial crisis and enough for every adult in the world to receive a $2,000 check.
A good chunk of initial Covid-19 aid funding is being used—quite rightly—to support healthcare systems, preserve people’s livelihoods and stabilize employment. But much is slated for investment into infrastructure and economies. Whether those are climate-friendly investments or not still remains to be seen.
Moving toward a cleaner energy world is cheaper than many people perceive. Read more ...