[MCN] Bloomberg Green : Stimulus packages have largely been a climate disappointment

[Lance Olsen]

Bloomberg Green  March 27, 2020

Excerpts

With the world still in the grip of a global pandemic <https://link.mail.bloombergbusiness.com/click/19848997.23744/aHR0cHM6Ly93d3cuYmxvb21iZXJnLmNvbS9ncmFwaGljcy8yMDIwLWNvcm9uYXZpcnVzLWNhc2VzLXdvcmxkLW1hcC8_Y21waWQ9QkJEMDMyNzIwX0dSRUVOREFJTFkmdXRtX21lZGl1bT1lbWFpbCZ1dG1fc291cmNlPW5ld3NsZXR0ZXImdXRtX3Rlcm09MjAwMzI3JnV0bV9jYW1wYWlnbj1ncmVlbmRhaWx5/58ffbaf7dd4c29967b8b4646B66525829>, many are nevertheless looking to an eventual recovery and wondering: Why can’t it be green <https://link.mail.bloombergbusiness.com/click/19848997.23744/aHR0cHM6Ly93d3cuYmxvb21iZXJnLmNvbS9uZXdzL2FydGljbGVzLzIwMjAtMDMtMTgvZ3JlZW4tcHJvamVjdHMtY291bGQtcHVsbC1lY29ub21pZXMtb3V0LW9mLXRoZS1jb3JvbmF2aXJ1cy1zbHVtcD9jbXBpZD1CQkQwMzI3MjBfR1JFRU5EQUlMWSZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9zb3VyY2U9bmV3c2xldHRlciZ1dG1fdGVybT0yMDAzMjcmdXRtX2NhbXBhaWduPWdyZWVuZGFpbHk/58ffbaf7dd4c29967b8b4646B6fc21b1e>?

The sums involved are enormous <https://link.mail.bloombergbusiness.com/click/19848997.23744/aHR0cHM6Ly93d3cuYmxvb21iZXJnLmNvbS9uZXdzL2FydGljbGVzLzIwMjAtMDMtMjMvc2hvdWxkLXRoZS1jb3JvbmF2aXJ1cy1lY29ub21pYy1zdGltdWx1cy1iZS1ncmVlbi1pdC1kZXBlbmRzP2NtcGlkPUJCRDAzMjcyMF9HUkVFTkRBSUxZJnV0bV9tZWRpdW09ZW1haWwmdXRtX3NvdXJjZT1uZXdzbGV0dGVyJnV0bV90ZXJtPTIwMDMyNyZ1dG1fY2FtcGFpZ249Z3JlZW5kYWlseQ/58ffbaf7dd4c29967b8b4646B8421b1cd>, but so far stimulus packages have largely been a climate disappointment. 

The U.S. Senate bill, for instance, completely cut support for the wind and solar industry <https://link.mail.bloombergbusiness.com/click/19848997.23744/aHR0cHM6Ly93d3cuYmxvb21iZXJnLmNvbS9uZXdzL2FydGljbGVzLzIwMjAtMDMtMjUvdGhlLXNlbmF0ZS1zLXN0aW11bHVzLWJpbGwtaXMtZnVsbC1vZi1kaXNhcHBvaW50bWVudHMtZm9yLWNsaW1hdGUtYWR2b2NhdGVzP2NtcGlkPUJCRDAzMjcyMF9HUkVFTkRBSUxZJnV0bV9tZWRpdW09ZW1haWwmdXRtX3NvdXJjZT1uZXdzbGV0dGVyJnV0bV90ZXJtPTIwMDMyNyZ1dG1fY2FtcGFpZ249Z3JlZW5kYWlseQ/58ffbaf7dd4c29967b8b4646B852dcb46>. When Democrats nixed $3 billion in oil purchases for the Strategic Petroleum Reserve, Republicans retaliated by stripping out clean energy provisions. 

Airlines will be eligible to receive federal loans and direct cash assistance if they give the government an option to take an ownership stake. The legislation doesn’t include emissions limits <https://link.mail.bloombergbusiness.com/click/19848997.23744/aHR0cHM6Ly93d3cuYmxvb21iZXJnLmNvbS9uZXdzL2FydGljbGVzLzIwMjAtMDMtMjMvZ29wLXMtMi10cmlsbGlvbi1iaWxsLWFkZHMtY2FzaC1mb3ItYmFpbG91dHMtc3RhdGVzLXRyYW5zaXQ_Y21waWQ9QkJEMDMyNzIwX0dSRUVOREFJTFkmdXRtX21lZGl1bT1lbWFpbCZ1dG1fc291cmNlPW5ld3NsZXR0ZXImdXRtX3Rlcm09MjAwMzI3JnV0bV9jYW1wYWlnbj1ncmVlbmRhaWx5/58ffbaf7dd4c29967b8b4646Bb89364e0> for airplanes that were sought by House Democrats, according to one Republican.

The Trump administration, meanwhile, continues to sell new oil leases <https://link.mail.bloombergbusiness.com/click/19848997.23744/aHR0cHM6Ly90aGVoaWxsLmNvbS9wb2xpY3kvZW5lcmd5LWVudmlyb25tZW50LzQ4OTI2OS10cnVtcC1hZG1pbmlzdHJhdGlvbi1jb250aW51ZXMtdG8tc2VsbC1vaWwtcmlnaHRzLWFtaWQtaW5kdXN0cnk/58ffbaf7dd4c29967b8b4646B52235987> on public lands at fire sale prices. 

European recovery plans look slightly greener. Heads of government will consider a proposal that would make their emergency measures compatible <https://link.mail.bloombergbusiness.com/click/19848997.23744/aHR0cHM6Ly93d3cuYmxvb21iZXJnLmNvbS9uZXdzL2FydGljbGVzLzIwMjAtMDMtMjYvZ3JlZW4tZm9jdXMtbGlrZWx5LWZvci1ldXJvcGVhbi11bmlvbi1zLXZpcnVzLXJlY292ZXJ5LXBsYW4_Y21waWQ9QkJEMDMyNzIwX0dSRUVOREFJTFkmdXRtX21lZGl1bT1lbWFpbCZ1dG1fc291cmNlPW5ld3NsZXR0ZXImdXRtX3Rlcm09MjAwMzI3JnV0bV9jYW1wYWlnbj1ncmVlbmRhaWx5/58ffbaf7dd4c29967b8b4646C625b420f> with the principles set out in the bloc’s Green Deal, according to a European Union document. 

At the moment, prices in the European carbon market have dropped by 
almost one third since the beginning of March, reducing the economic pressure on companies to rein in fossil fuel use. In the short-term, the drop has made some coal plants on the continent profitable for the first time since November. In the long-term, it may hobble Europe’s climate goals <https://link.mail.bloombergbusiness.com/click/19848997.23744/aHR0cHM6Ly93d3cuYmxvb21iZXJnLmNvbS9uZXdzL2FydGljbGVzLzIwMjAtMDMtMjQvcGx1bmdlLWluLWNvc3Qtb2YtcG9sbHV0aW9uLWlzLWhpbmRlcmluZy1hLWtleS1ncmVlbi1hbWJpdGlvbj9jbXBpZD1CQkQwMzI3MjBfR1JFRU5EQUlMWSZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9zb3VyY2U9bmV3c2xldHRlciZ1dG1fdGVybT0yMDAzMjcmdXRtX2NhbXBhaWduPWdyZWVuZGFpbHk/58ffbaf7dd4c29967b8b4646B71216c00>. (Two of the inventors of the market say it’s too soon <https://link.mail.bloombergbusiness.com/click/19848997.23744/aHR0cHM6Ly93d3cuYmxvb21iZXJnLmNvbS9uZXdzL2FydGljbGVzLzIwMjAtMDMtMjYvZmF0aGVycy1vZi1jYXJib24tbWFya2V0LXNheS1wb2xpY3ltYWtlcnMtc2hvdWxkLWxldC1wcmljZXMtZHJvcD9jbXBpZD1CQkQwMzI3MjBfR1JFRU5EQUlMWSZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9zb3VyY2U9bmV3c2xldHRlciZ1dG1fdGVybT0yMDAzMjcmdXRtX2NhbXBhaWduPWdyZWVuZGFpbHk/58ffbaf7dd4c29967b8b4646Bbf5b879b> to begin worrying.)
###################################################
+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

“Human society has yet to appreciate the implications of unprecedented species redistribution for life on Earth ….
 Even if greenhouse gas emissions stopped today, the responses required in human systems to adapt to 
the most serious effects of climate-driven species redistribution would be massive.”
 
Pecl et al. 2017. Biodiversity redistribution under climate change: Impacts on ecosystems and human well-being
Science. 31 March 2017

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://bigskynet.org/pipermail/missoula-community-news_bigskynet.org/attachments/20200327/d5cdcd8e/attachment.html>