Thursday, October 1, 2020
Home News Climate-change gravy train gathers speed (and cash)

Climate-change gravy train gathers speed (and cash)

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MORGAN Stanley analysts said last year that the world needs to spend $73trillion on five areas of technology by 2050 to slash emissions to meet the Paris Agreement’s goal of halting global warming.

Their report says this money is needed for investment in renewables, electric vehicles (EVs), carbon capture and storage, hydrogen and biofuels.

Those gaining from the $73trillion will not be the public but directors and shareholders in the renewables industry, financial people, climate scientists, universities, and in the UK the EV manufacturers, which do not even pay for the UK’s charging point infrastructure, and the UK EV owners who get a grant of up to £3,500. Companies in the UK already receive green grants for any ideas so long as they have ‘renewables’ in the name. 

Proposals to generate electricity by flying kites in Scotland are still up in the air with nothing flowing to the grid three years after start-up.

The UK start-up firm Gravitricity was given a grant of £650,000 to generate and store electricity by dropping a weight down an old mine shaft. So far no electricity has flowed to the Grid.

No wonder companies all over the world are clambering aboard the climate-change gravy train. It’s all about money – $73trillion of it. Global taxpayers are being plundered to give to the already rich. I am sure Robin Hood would have something to say.

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Clark Cross
Clark Cross is a retired chartered accountant, finance director and managing director. He lives in Scotland.

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