Credit: Anatoly Maltsev/EPA
Raising money needed to tackle the climate crisis need not be a burden on overstretched government budgets, leading economists have said.
The sums needed – approximately $1tn a year by 2030 – are achievable without disruption to the global economy, and would help to generate greener economic growth for the future.
Amar Bhattacharya, a senior fellow at the Brookings Institution, and a visiting professor at the London School of Economics, who is the executive secretary of the UN’s independent high-level expert group (IHLEG) on climate finance, said: “Is it feasible? The answer is absolutely yes. Is it politically challenging? The answer is also yes. But I do believe it can be done.”
Without such investment, the world faces a future of economic damage, rampant inflation and the reversal of gains made in recent decades to pull poor countries out of destitution, the UN has warned.
Simon Stiell, the UN’s climate chief, said: “When nations can’t climate-proof their links in global supply chains, every nation in […]
The reality is that climate change will impact all of our lives. The only question is to what extent? We will all have to learn how to live on less as the modern western lifestyle is inherently unsustainable. As the third world strives for the modern western lifestyle the only way for them to get there is to burn oil. Unless, of course, we in the develped world share technology, which I doubt our greedy corporate masters will not allow. So this is where we are. Everyone wants to implement climate solutions; however, the refrain is always “you go first”. Since we will all have a diminished lifestyle I recommend in the words of John Michael Greer ” Crash now, and avoid the rush”