The rhetoric about a green recovery of the economy after the corona pandemic has gained a lot of ground. Nevertheless, manufacturers of fossil fuels and high-emission industries have received 70 percent more support money than has been spent on renewable energy, according to an international study by the International Institute for Sustainable Development, the Stockholm Environment Institute and 12 other organizations. 

- We see support going to new oil pipelines in Canada and to infrastructure for transporting coal in India, but especially in countries like the US and Canada, which have strong political and economic links to the fossil fuel industry, says Michael Lazarus, head of the Stockholm Environment Institute in USA.

$ 151 billion for coal, oil and gas

The study, which will continue to be updated via an interactive website, compares G20 countries' investments since the start of the pandemic. At least $ 151 billion of the support money has gone to fossil fuels such as coal, oil and gas, while $ 89 billion has gone to renewable energy. 

Among the countries that stand out for concrete climate-smart initiatives are China, Germany, India, Japan and the United Kingdom. 

The authors of the study believe that many of the investments show the direction for the future, as long-term infrastructure projects based on fossil fuels lock the world in high emissions for a long time to come. 

- We are in a situation where we invest a lot of money in long-lasting infrastructure projects and we can either build the communities in a better way, or repeat previous mistakes. Right now we see that we have not really learned that lesson. But if we do, then this is a huge opportunity that only comes once per generation, to choose a sustainable future across the planet, says Lazarus.

Low reduction

Despite the fact that global greenhouse gas emissions have decreased when the world has stopped during the year, the reduction is significantly lower than the 8-15 percent per year required to meet the climate goals in the Paris Agreement. 

- If we do not change direction fast enough, we will miss this unique opportunity to build a better society.

See more about Germany, France and the UK's investments in a green transition in the clip above.