We need to act now to reduce emissions to reduce killer heat and killer floods. And yet only 10 per cent of the $17 trillion spent by governments on post-COVID bailouts has been directed to cutting greenhouse gas emissions and restoring nature.
As ever with science not everything is as it seems. As many countries worldwide struggle with the second wave of COVID-19, there is an ongoing scientific debate about how best to control the virus without destroying the economy.
In a letter to the Federal Reserve, 69 organizations called on the Fed to stop purchasing corporate debt from the fossil fuel sector through its COVID-19 emergency facilities.
Grassroots campaigners at a press briefing yesterday said political leaders are failing to ensure a just and sustainable recovery, as new data shows that the world’s 20 richest countries have committed more than USD 150 billion of public money to support fossil fuels since the start of the COVID-19 crisis.
The burning, melting, warming Arctic is clearly a sign that something is wrong and we need to stop investing in fossil fuels now.
“Equating a bailout for Big Oil with basic protections for nurses and healthcare workers in a pandemic is completely egregious,” said Rees of Hoyer’s comments.
Environmentalists are blasting attempts by oil and gas companies to hijack the Fed’s Main Street Lending Program in order to pay down their debt — debt that began skyrocketing long before the coronavirus impacted the industry.
Indigenous, community, and conservation groups today called on New Mexico’s congressional delegation to oppose bailing out fossil fuel companies with emergency aid during the coronavirus pandemic, and to focus all support on vulnerable communities.