May 23, 2020 | 5:00 am
The economic crisis caused by the coronavirus pandemic has been accompanied by different academic and non-governmental voices that demand the inclusion of the fight against the climate crisis among the priorities of the economic stimulus packages around the world.
Now, the voices these groups for the green recovery could have found a new champion among their ranks: Prince Charles of Wales.
The member of the British Crown will host a virtual meeting on June 3, which will aim to exchange ideas with different guests to find viable ways to revive the economy, with the climate crisis as one of the key points, according to Amy Harder, analyst at Axios economic portal.
Among the guests are members of the public and private sectors. The meeting will also be coordinated by Klaus Schwab, founder and executive president of the World Economic Forum (WEF).
A spokesperson for the event told Axios that the director of the International Monetary Fund, Kristalina Georgieva, and the president and CEO of Bank of America, Brian Moynihan, have also confirmed their participation.
The Prince of Wales gave a speech in Davos, Switzerland earlier this year, highlighting the challenge of the climate crisis and presenting a sustainable initiative. However, a survey conducted by the WEF this month revealed that the crisis is not among the 15 most pressing problems for the population.
The World Bank has also expressed its intention to help nations use their economic packages in a “line of activities ready to be implemented” that could help the different economies to achieve the emission goals that they acquired in the Paris Agreement.
“Building a bridge between National Contributions and a sustainable recovery will require significant coordination, both between ministries of each government and with international institutions,” World Bank officials said in a publication on their official site.
This movement highlights the intention of several organizations to merge climate investments and recovery investments, with the aim of meeting the increase in ambitions in the environmental goals that are supposed to occur this year at the COP26 in Glasgow, which was scheduled to this November, but it has been delayed.
Although the member countries of the United Nations continue with their commitment to set improved goals this year, the organization fears that countries will prioritize economic recovery over the climate crisis, at a time when international negotiations will be more complicated by the lack of summits.
“China and other governments are tempted to invest in coal-based generation to help their economies recover from the pandemic,” Matt Gray, head of power and inputs at Carbon Tracker, a climate think tank, told ..
This carries the risk of committing to high-cost technologies that belittle global goals.
China produces and consumes around 50% of the coal worldwide. Analysts and scientists have highlighted the important role that China, India and Africa will play in achieving climate goals.