As we begin our global climb out of the coronavirus depression, we shouldn’t start by letting bad green deals make us poorer
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.