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Speaking ahead of a virtual meeting of 30 nations, Germany and Britain’s environment ministers said Monday that efforts to revive the global economy in the wake of the coronavirus pandemic must ensure a ‘green recovery’ that helps the world tackle climate change, according to AP. The ministers emphasized the importance of economic recovery programs to invest in jobs of the future that reduce greenhouse gas emissions and the need for the global community to work together to prioritize a green recovery.
Additionally, ahead of the digitally-held Petersberg Climate Dialogue, an annual summit organized by the German government in preparation for the UN climate conference, 68 companies released a statement expressing their support of green economic stimulus measures.
Why This Matters: Aside from the declaration from Europe’s two largest economies French Finance Minister Bruno Le Maire also expressed that any recovery efforts should be in line with the EU’s climate goals and across the world, New Zealand has indicated a similar goal. But here in the United States, when Democrats tried to push for similar measures in recovery packages they were met with ridicule by their Republican colleagues. But Republicans recently pushed for their Trillion Trees Act to include incentives for homeowners and homebuilders to use low-carbon building materials, energy-efficient appliances, and more insulation–though this certainly won’t yield as many jobs as investing in renewables.
Renewable Energy Outlook: Whereas the outlook for investment in renewable energy projects in the United States looks uncertain, in Europe the environment is much more favorable. Despite COVID-19 and a global economic recession, France had stepped up its commitment to renewable energy.
In the U.S.? After President Trump and Senator Majority Leader Mitch McConnell mocked clean energy, the industry–one of America’s most promising–could lose up to half a million jobs without necessary protections and precautions.
Investing $110 trillion in renewables could, on the other hand, potentially spur an even more robust economic recovery from COVID-19 by creating massive socioeconomic gains as well as generate savings of $50 trillion-$142 trillion by 2050.
This goes to show that we know what the biggest job-creating investments are in our economy, we just need the political will to direct federal dollars into those industries. Europe is taking the data seriously, will the U.S.?
By Amy Lupica, ODP Daily Editor A new report has found that since the 2015 signing of the Paris agreement, more than 75% of the world’s planned coal plant projects have been scrapped, and 44 countries have no future coal plans whatsoever. The report’s authors hope this trend will continue as the COP26 conference in […]
By Amy Lupica, ODP Daily Editor The House Ways and Means Committee has released their portion of the reconciliation for the Democrats’ $3.5 trillion spending package. The plan follows through on many promises made by the Biden administration, including clean energy tax credits and credits for electric vehicle owners. The plan, announced on the heels […]
By Amy Lupica, ODP Daily Editor On Tuesday, the Biden administration announced that it would “revise” regulations regarding renewable energy on public lands, a move that may ease the development of solar and wind projects. The Bureau of Land Management (BLM) said that it would be seeking input for a new proposal, which it plans to issue early next year. […]
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