Trillions of dollars spent on Covid recovery in ways that harm environment

Only 10% of $17tn global bailout directed to cutting greenhouse gas emissions and restoring nature, report finds

Trillions of dollars poured into rescuing economies around the world from the Covid-19 crisis have been spent in ways that worsen the climate crisis and harm nature because governments have failed to fulfil promises of a green recovery" from the pandemic.

Only about a tenth of the $17tn in bailouts provided by governments since the start of the pandemic was spent on activities that reduced greenhouse gas emissions or restored the natural world, according to analysis from Vivid Economics, published on Thursday.