Climate policy vs financial crisis, round 2

Last week, I posted some worries about how the high energy prices, the credit crunch and a looming recession are likely to derail progress on climate change. In the days since, the credit crisis has shifted to Europe and brought climate questions to the fore. Reuters reports that France is considering offering its industries opt-outs to soften the pain of a recession. Charles Haneley, writing for AP, says that a success story of the current climate regime — the transfer of wealth from rich countries to poorer ones to fund greenhouse gas reduction — is threatened given the growing shortage of funds. A co-bylined piece in the Guardian goes the farthest, bluntly pointing out that European countries may use the economic crisis as an excuse to ditch or delay climate goals.

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