Calls for green economy recovery continue

Over 60 CEOs have written to Prime Minister, Boris Johnson, urging the PM to create a resilient economy, post pandemic, through a green recovery.

Published on 8 May, the letter called for investment in infrastructure, technology and skills to generate thousands of new jobs that directly contribute to a climate-safe future. It stressed that high-carbon infrastructure, such as road building and airport expansion, should not be prioritised in public and private finance and that every measure in the economy recovery package should be put through a net zero test. It further called for greater space for wildlife and people, as well as for nature’s protections to be strengthened.

The letter also called for the UK to lead the world in tackling the climate crisis and restoring nature by bringing global leaders together to plan for a green and sustainable recovery in the lead-up to the UN COP26 event in Glasgow next year. It was stressed that reducing the country’s collective global footprint on nature is of the “utmost importance”.

The letter came as the former governor of the Bank of England, Mark Carney, also called for a investment in a greener economic recovery from the COVID-19 crisis. Carney, participating in an online discussion about climate change set up by Policy Exchange, said the pandemic had a “big opportunity” at the end of it, warning that no country can self-isolate from climate change. Carney added that at a time when many industries would have to restructure, it was a chance “to try not go back to the status quo”.

Carney recommended regulatory policies pushing economies towards greener growth and a sustainable future quicker, adding that governments should take the opportunity to invest in wind and solar power to accelerate the clean energy transition. Carney stated many countries will have the chance to invest in sustainable infrastructure, an opportunity not taken following the 2008 financial crisis.

Green Alliance   BBC