Time.news – The economic recovery after the Covid-19 pandemic is pushing CO2 emissions, which are set to reach an all-time high by 2023 because only 2% of the funding for the recovery from the pandemic is spent on clean energy. This is highlighted by a report from the International Energy Agency (Iea).
According to the IEA Sustainable Recovery Tracker, of the more than 16 trillion dollars of tax support put in place by countries around the world in the form of emergency financial aid for workers and companies, only 380 billion dollars are for clean energy projects.
If all spending plans were to be implemented, the agency said, global carbon emissions would reach record highs in 2023 and continue to rise in subsequent years.
“Since the Covid-19 crisis broke out, many governments have talked about the importance of rebuilding better for a cleaner future, but many of them have yet to put their money where their words are,” said the executive director of the AIE Fatih Birol.
“Not only are investments in clean energy still far from what is needed to put the world on the right track to achieve net zero emissions by the middle of the century, but they are also not enough to prevent global emissions from reaching a new record, “said Birol.
“Governments must rapidly increase spending and political action to meet the commitments made in Paris in 2015 – including the vital provision of finance by advanced economies to the developing world,” he concluded.