Image:Reuters
By Patryk Krych | The World Daily | FEBRUARY 12th 2021
A study published on Friday had revealed that the post-pandemic stimulus packages that are meant to help economies restabilise following the calming down (and hopeful elimination) of the coronavirus have a number of funds reserved for battling against climate change and global warming.
The post-pandemic stimulus packages are meant to act as a means through which to offset the effects of the virus overall. Of the public funds that have been set aside for this, somewhere around $14.9 trillion has been amassed. Of this number, only around $1.8 trillion is to be used for the purposes of green recovery and environmental protections according to a recently published study.
$1.8 trillion is by no means a small amount of money, but in the grand scheme of things it may not be enough for the sake of such a dire goal as battling against climate change. Though this amount alone may fail to sufficiently help to support the defence of environments, wildlife and worldwide biodiversity, it’s also been revealed that there’s been a steady rise in the amount of green spending observed throughout the pandemic period.
The report, which had been made and put together by the Vivid Economics and Finance for Biodiversity think-tanks and is called the Greenness of Stimulus Index, stated that the money put aside for a green focus will primarily be put to use towards lowering pollutants from such industries as travel, energy production, waste management, and farming/food production.
“We are seeing momentum building towards a greener stimulus package, but there’s still a long way to go,” said an economist at Vivid Economics and co-author of the report, Jeffrey Beyer, to Reuters. What this means is that eventually, we may be seeing more and more funds put towards environmental security.
A greener focus and environmental awareness have been a far prompter and more direct subject matter in the US since the inauguration of President Joe Biden. Among Biden’s first decisions as president of the USA was the re-inclusion of the United States into the Paris Climate Accords. Since then, more spending has been observed towards environmental wellbeing – spending that the study suggests may increase further overtime on a more global scale.
This has recently been exemplified when, on Thursday, the Biden administration had made the announcement that $100 million in funding would be offered up by the US Department of Energy for the purpose of supporting the development and implementation of low-carbon energy technologies.
