The world is heading for mortality rates equivalent to Covid crisis every year by mid century unless action is taken, according to Mark Carney.
The former central Banker said the investment needed to avert millions of deaths was double current rates. But with governments ploughing billions into keeping economies afloat, a question mark hangs over weather the recovery will be given enough.
The answer lies in smarter investment , Mr. Carney said.
‘We cannot retreat’
Mr. Carney , who was the bank of England governed up until last year, and the head of the Bank of Canada before that, is now the United Nations Envoy for climate action and finance.
He told the BBC that while there were parallels between the Covid-19/pandemic and climate change, damage to the environment and ecosystems had the potential to cause many more deaths.
“One of the biggest issues is you cannot self isolate from Climate,” he said. “That’s not an option. We cannot retreat in and wait out climate change, it will just get worse,” he told talking business Asia: The Climate Change Challenge.
When you look at climate change from human mortality perspective, it will be the equivalent of coronavirus crisis every year from the middle of this century , and every year, not just a one-off event. So it is an issue that needs to be addressed now.”
But governments pouring trillions of dollars into stimulus plans to rescue their ailing economies are mainly addressing job losses and the economic damage inflicted from lockdowns.
Very little of that cash is heading towards reducing carbon emissions, although emissions to focus on the environment, said: “The scale of investment in energy , sustainable energy and sustainable infrastructure needs to double.”
H3 also added, “They have the information and they can choose to be part of the solution, transitioning to net zero, or be part of the problem.”
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