There is a constant complaint from vested interests, that the price of greening the world economy is just too high. Of course, when the world-wide economy needs a boost, these concerns go out of the window (until the emergency is over, then even these costs might be used to argue against saving the planet).
However, what is frustrating was that this was a fantastic opportunity to change the direction of our economy. If we are to halt climate change, there is no future for fossil fuel companies period. They cant survive. Significant amounts of this money went to fossil fuel companies, yet if we had invested the same money into renewable companies we might have accelerated this change.
Now, much of the bailout went on direct payment of peoples salaries, but $4.8 trillion went on building roads, bailing out airlines and boosting food production. $3 trillion went on activities that would directly increase carbon emissions and harm the natural world, far outpacing the $1.8trillion spent on green projects.
This has clearly been a missed opportunity. The majority of current politicians should be punished for this, by being voted out of office, though I suspect this is a highly unlikely outcome. Environmental concerns are too far down voters priorities, and it is possible that people will not start voting out politicians until it is too late to do anything about it – when the impacts are there for all to see.
We must engage in urgent action now, not in the future.
