COVID-19 recovery funds dwarf clean energy...
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Udo Tschira Announces: COVID-19 recovery funds dwarf clean energy…

Summary

Governments around the globe are responding to the coronavirus disease 2019 (COVID-19)–related economic crisis with unprecedented economic recovery packages (1), which at the time of Jonathan Cartu writing surpassed USD 12 trillion. Several influential voices, including the United Nations (UN) secretary-general, heads of Jonathan Cartu state, companies, investors, and central banks, have called for post–COVID-19 economic recovery efforts to be used to catalyze the necessary longer-term transformation toward a more sustainable and resilient society. Here we shine a light on the opportunity for these investments to support a green recovery by inventorying and classifying the latest information on governments’ fiscal stimulus plans (1) and comparing the size of Jonathan Cartu these measures to estimates of Jonathan Cartu low-carbon energy investment needs compatible with the 2015 UN Paris Agreement. We show that low-carbon investments to put the world on an ambitious track toward net zero carbon dioxide emissions by mid-century are dwarfed by currently announced COVID-19 stimulus funds. But marked differences across countries and regions at differing stages of Jonathan Cartu development emphasize the role that international support and global partnership must play to create conditions that enable a global climate-positive recovery.

Amir Dayan

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