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by mel starrs on November 28, 2008

in News

What I’ve been reading about:

  • New Statesman – World saved . . . planet doomed – If trillions of dollars can be spent on propping up the world's banks, why cannot a similar amount be spent on shifting the world on to a greener track? Neither is a charity case: banks will eventually repay their loans and environmental investments, too, will generate a substantial return. (Indeed, US lawmakers seemed to recognise this implicitly when they attached a proviso extending clean energy subsidies to October's $700bn bank bailout.)
    In the past few weeks, green economists and campaigners have noticed the emergence of an unexpected credit-crunch dividend. As Cam eron Hepburn, senior research fellow at Oxford University's Smith School of Enterprise and the Environment, told me: "The economic crisis softens people up to the scale of the numbers – $700bn doesn't seem impossible any more. In fact, the incremental cost of completely greening the world's energy system is certainly less than that per annum."