The question or challenge for governments and their people is —
Can we see, take on, and mobilize our resources to manage 3 potentially devastating “plagues”?
THE THREE — COVID 19 Pandemic, Climate Change, and finally Racism.
IF so how — and action needs to be now.
Climate change was about to be central problem for solution when the Pandemic arrived
— and now racism in America is in the Streets.
These issues or massive problems are spurring an impact on carbon pricing. issue that Economists like.
In addition to Carbon pricing, a network of Charging stations, more nuclear power plants, renewable energy programs,
Plus retrofitting of buildings and technology will be needed in mass.
Renewable energy sources are becoming major focus of government.
If the Climate Crisis were solved in the World, 90% of the decarbonization needed to comply with the Paris agreement would be attained.
The compounding impact of adding COVID 19 to the Climate change issue does create a unique opportunity.
Enacts government policy that steers world economies away from carbon at a lower cost.
Need to cut subsidies and increase the tax base in fossil fuel economies.
Gaining investment in climate friendly infrastructure to boost growth & jobs is challenge.
The COVID 19 Pandemic has caused some government to put efforts into greening their bailouts.
Climate Change will be slowing but ultimately more critical than disease.
World governments provide more than $400B a year in direct support for fossil fuel consumption.
Only half that amount is spent subsidizing renewable production;
The Economist: “Seize the Moment”- The Chance to Flatten the Climate Curve” https://www.economist.com/leaders/2020/05/21/countries-should-seize-the-moment-to-flatten-the-climate-curve
Climate Brief on Energy- Economist May 23 2020 Not-so-slow burn”; “The world’s energy system must be transformed completely” https://www.economist.com/schools-brief/2020/05/23/the-worlds-energy-system-must-be-transformed-completely