The US Is Missing a Chance to Tackle Climate Crisis and Pandemic Relief Together
The U.S., which continues to lead the world in COVID-19 infections, has been rolling back environmental protections, including many during the pandemic, giving tax breaks to polluters and withdrawing from the Paris climate accord. Even the ostensibly politically independent Federal Reserve is over-investing in fossil fuels in one of its economic response programs. By contrast, the European Union (EU) is taking these dual crises seriously, combining its pandemic response with work to also blunt the coming climate crisis. In September, the European Commission (EC) — the governing body of the European Union — announced a massive new green bond program. As a part of its ongoing pandemic recovery, this coming January the EC will sell bonds in order to raise €750 billion (or $857 billion USD). This EU Recovery Fund will distribute its funds among the countries and sectors in the EU most impacted by the coronavirus pandemic.
By Alexis Goldstein. Truthout. October 20, 2020.
The Pandemic Is Driving A Boom In Investments To Fix The Climate Crisis
Interest in green bonds has increased in recent months as investors seek out securities that can generate returns and help the environment at the same time. Governments are offering green bonds to help meet ambitious climate goals, and companies are using them to reduce the impact of their business on the environment. Green bonds are similar to traditional fixed-income securities, but the money they raise must be spent on climate, environment or renewable energy products. The bonds first arrived on Wall Street in 2007, but the coronavirus pandemic has led to a new surge in interest.
By Streisand Neto, CNN Business. October 8, 2020.
