Unfortunately, most current climate policies cost more than the benefit they deliver. Moreover, green spending works slowly and creates almost no jobs in the short run, when jobs are most needed. It generates green jobs in construction and manufacturing, whereas most job losses due to Covid-19 occurred in services. The report actually shows that climate policies drag down growth, whereas smart non-climate policies like investments in infrastructure and education, along with a more flexible labor market, increase growth. As we begin our global climb out of the Covid-19 depression, we shouldn’t start by letting bad green deals make us poorer, help climate little and ignore the many other urgent needs of the world.

Source: Daily Nation July 18, 2020 10:07 UTC