A new report from UK development charity Christian Aid warns that post-Covid stimulus packages are in danger of widening global inequality and pushing poorer countries to turn to fossil fuels which would threaten the success of the UK’s COP26 climate summit.
The report, Whose Green Recovery, analyses the various economic stimulus plans around the world and reveals that:
- There is a dangerous lack of policies that will help developing countries, potentially wiping out climate gains in the Global North
- More than half a trillion dollars going to carbon-intensive industries
- Failure to add bailout conditions which would accelerate the zero carbon transition
The 33 page report outlines what a truly global green recovery would look like, featuring debt cancellation, fossil fuel subsidy removal and greater investment in overseas renewables rather than fossil fuels.