CCC urges greener investment after COVID-19
Leading economists, and the Government’s own climate advisory body, the Committee on Climate Change (CCC), have urged the Government to make green investment and carbon reduction a central part of coronavirus recovery plans.
In a letter to the Prime Minister, the CCC said "immediate steps" must be taken to develop plans that will simultaneously revive the economy and help the UK deliver its net zero emissions target.
ECA’s energy solutions advisor Luke Osborne said, “globally and nationally we will need to invest and move in green energy policy. It makes sense to begin the journey now, at a time when these policies can help to pull the economies out of the Covid-19 downturn.”
A study co-authored by Nobel laureate Joseph Stiglitz and climate expert Lord Nicholas Stern, which examined over 700 economic stimulus policies launched during or since the 2008 financial crisis, warned that “the Covid-19-initiated emissions reduction could be short-lived,” and that governments can “choose to build back better, keeping many of the recent improvements we’ve seen in cleaner air, returning nature and reduced greenhouse gas emissions.”