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UK News

Green recovery spoilt by $190 billion spending on ‘dirty’ fossil fuels, says Christian charity

by Donna Birrell

G7 nations have spent more on fossil fuels than on clean energy since the beginning of last year, according to the charity, Tearfund.

Its new report shows how G7 nations have invested $190 billion into fossil fuels since the start of the pandemic despite leaders' pledges to "build back better"? 

And more than 8 in every 10 dollars committed to fossil fuels came with no so-called 'green strings' attached.

Rich Gower from Tearfund tells Premier powerful nations should be doing more to alleviate the plight of poorer countries during the pandemic :

"It's a really big missed opportunity. And it's a problem for the people that Tearfund walks alongside every day. Because whether it's the mother walking further to collect water for her family, or a farmer whose crops are failing because of erratic weather, continuing to invest in fossil fuels, threatens n excuse for the g7 to be pumping more money into fossil fuels, when they could be using the recovery to accelerate the transition to a green economy."

The report shows that more than eight in every ten dollars committed to fossil fuels came with no "green strings" attached and that coal, oil and gas received $189billion in support, compared with $147billion for clean forms of energy, since the start of the pandemic. It also says that only one in every ten dollars committed to the Covid-19 response benefited the cleanest energies.

The analysis finds that G7 countries' energy-intensive investments since the start of the pandemic are at odds with the G7's own net-zero targets, and with the steep decline in emissions needed to limit global warming to 1.5°C.  

 The UK is hosting the G7 summit next week and the COP26 climate talks in November. Rich Gower told Premier that it's an important opportunity :

"The UK has a fantastic opportunity to draw this golden thread of ambitious climate action through these key moments over the next six months. And people at home can get involved in a couple of key ways. The first is through participating in something called Wave of Hope, which is partnering with other agencies to put pressure on G7 leaders ahead of the summit. And secondly, we'd love people to be praying ahead of the G7 praying for G7 leaders to have perspective and to make the right decisions."
 

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