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Covid-19 Stimulus Packages Provide Little Money for Environment

Site Of U.K. Government Backed New Coal Mine
Photographer: Anthony Devlin/Bloomberg

Only a fraction of the money from Covid-19 stimulus packages announced by the world’s 30 largest economies is being directed to industries that have a net positive impact on the environment and climate, an industry report said.

About $1.8 trillion, or 12%, of $14.9 trillion is being channeled to parts of the transportation and agricultural sectors that are cutting greenhouse-gas emissions or benefiting nature and biodiversity, according to think tanks Vivid Economics and Finance for Biodiversity. By contrast, almost 33% of the global total is going to carbon-intensive sectors such as fossil fuels and heavy industry.