World failing to take green COVID recovery path: UN

DM

The world is missing a once-in-a-generation chance to rebuild a sustainable post-pandemic future, the United Nations said Wednesday in an assessment showing less than 20 per cent of recovery finance can be considered “green”. Although the unprecedented economic slowdown caused by COVID-19 saw greenhouse gas emissions fall dramatically in 2020, institutions from the UN to the International Energy Agency have warned against a fossil-fuel powered rebound. The UN says emissions must fall nearly seven percent — roughly equivalent to 2020’s fall — this decade in order to keep the Paris climate deal’s temperature goals in play. With renewable energy more affordable and scalable than ever, there were hopes that governments would use the opportunity presented by the pandemic to green their economies and to prioritise nature in their recoveries.

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