Coronavirus relief funds could easily pay to stop the worst of climate change while rebooting economies

The Daily Climate discusses how Coronavirus relief funds could easily pay to stop the worst of climate change while rebooting economies. Are governments and companies willing and able to turn toward a cleaner, more prosperous future to the benefit of all?

As of late summer, governments around the world had pledged US$12.2 trillion of relief in response to the coronavirus pandemic.

That’s around 15 percent 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 health care 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.

While the world’s bout with the virus is far from over, there is already talk amongst leaders like Joe Biden and Boris Johnson about rebuilding toward a more sustainable, more resilient future.

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