Climate activism diverts funds from poverty relief

Chancellor Phillip Hammond was slapped down by Downing Street last week for warning that reaching net zero carbon emissions could cost the UK £1 trillion and require cuts to funding for schools, hospitals and the police force. Climate change needs a response, but Mr Hammond is right to highlight the cost – and in fact, he is likely to be underestimating the real price-tag.

After the ravages of the coronavirus pandemic, the world will be spending trillions of dollars to get us back on track. Increasingly, campaigners and influential policymakers demand this spending be tied to climate goals. IMF chairwoman Kristalina Georgieva urges “We must do everything in our power to make it a green recovery,” and U.S. Democrats, the European Commission and many other countries are pushing ”Green New Deals.” These could cost us tens of trillions of dollars, and, unfortunately, will be one of the worst ways to help us recover.

Environmentalist Bjorn Lomborg says we waste money in the fight against climate change.