Of all 20 member countries in the G20 — a group of brawny nations which answer for for 85 % of the world ’s GDP andcreates some 78%of all global greenhouse gas pollution — the U.S. has been hit hard economically by extreme conditions fuel by the mood crisis . But when rather than using covid-19 economical stimulant bills tospeed up the clean-living energy transition , the U.S. poured money into bail out polluting corporations .
The 2020 Climate Transparency Report was produced by a orbicular partnership of 14 think tanks and nonprofits and supported by the World Bank Group . The authors rated the climate - friendliness of each of the G20 members ’ economic choices , including tending software package in the wake of the pandemic and suck on past the pre - existingGreenness of Stimulus IndexandEnergy Policy Trackerin gain to qualitative analysis .
The report was let go of late Tuesday Nox , ahead of the yearly G20 group meeting later this week in Riyadh . Leaders are look to discuss their come architectural plan for economical aid during the ongoing pandemic .
Patients are quickly evacuated from the Feather River Hospital as it burns down during the Camp fire in Paradise, California on Nov. 8, 2018.Photo: Josh Edelson/AFP (Getty Images)
The 70 - page study shows that the U.S. should have had enough reason to act on clime even prior to the coronavirus . Between 1999 and 2018 , mood disasters like fires and flood in the U.S. leave in $ 51.6 billion in economical losses every class over that menses . No other countries even hail close to losing that much : The next state on the list are China and India , which gouge up $ 35 billion and $ 14 billion severally over that 19 - twelvemonth period .
The high annual ordinary departure over that geological period were punctuated by extremes , including a book - setting 2017 when climate modification - fueled disasterscost the U.S. $ 306 billion . That twelvemonth see supercharged hurricane and wildfires madematerially worseby carbon contamination .
Despite that , the U.S. has continually shown fealty to the very industries that created the stipulation for those costly and mortal ( the country average out 445 fatalities on intermediate annually ) events , including petroleum , throttle , and ember . As a result , the country is not on cart track to take on its toast under the 2015 Paris Agreement ( made before President Trump was elected andpulled the rural area outof the agreement ) to repress its greenhouse gas emissions 25 % below 2005 levels by 2025 .
Even compare to other G20 countries , which are all major polluters and together account for an astonishing 90 % of all historical nursery gas emissions , the U.S. is n’t doing its due diligence on the climate crisis . The country has the fourth - highest per capita emission in the elect group . That ’s in large part due to direct subsidies : “ The U.S. has provided more categoric financial support to the fossil fuel sector than any other G20 commonwealth has leave to all get-up-and-go sector unite , ” the account says .
Amid the devastating economic radioactive dust of the covid-19 pandemic , the U.S. has achance to rick it aroundon clime . But instead , national loss leader have so far followed the destructive patterns of behavior when craft aid packages , and no other stimulus relief is on the horizon .
“ No direct support for clean energy is mentioned in the Coronavirus tending , Relief and Economic Security ( CARES ) Act , ” the account order .
or else , functionary signed a bill to supportpolluting fogey fuel companiesand airlines — anothermassive sourceof greenhouse gas — without even include stipulation to protect the climate in their business dealings . The report estimates that 90 fossil fuel company will reap financial welfare from the CARES Act , “ including 10 out of 40 fracking company . ”
Though the U.S. is in a league of its own , it ’s far from the only G20 country to screw up ensuring pandemic convalescence follow a sportsmanlike vitality course . All G20 members besides Germany have put money toward domestic petroleum , coal and/or gas , and even Germany subsidize airlines . Further , only four G20 nations supported renewables more than fossil fuels , airline , or the auto industry .
It ’s not too late for these powerful countries to change course of instruction . The account make suggestions for all 20 penis of the group , call for investing into renewable energy , sustainable agribusiness , conservation , and research and growing into new sustainable technologies and policies . It also calls for stronger environmental regulations and bighearted taxes on polluting industries , and for all leaders to give up all public finance to dirty fuel .
Even in the G20 countries ’ be stimulation packages , there were some glimmers of Bob Hope . Eighteen G20 land did allow for some economical stimulus to renewable energy , with the exception of Saudi Arabia and Russia . But the composition shows that aid has been far from enough , and that land are still giving way too much money to polluters .
Of every state in the world , G20 or not , the U.S. has the most oeuvre to do because it ’s responsible for the big contribution of the problem historically . But as the account express , the U.S. also has a lot to gain by taking mood action , in terms of not only money but also hold up .
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