As the Guardian notes this morning:
Britain’s biggest environmental groups and charities have warned the government it must double funding to tackle the climate emergency from next year to avoid ecological catastrophe in the future. Greenpeace, Friends of the Earth, Oxfam and Christian Aid are among those calling for at least £42bn to be allocated over the next three years. It is equivalent to about 2% of economic output each year and 5% of total state spending. Among priorities they list are an £11.6bn expansion in transport spending, including a UK-wide car scrappage scheme to remove polluting vehicles, as much as £2.6bn per year for rewilding projects and land management, and billions for sustainable buildings and industry.
I have two pints to make. The first is that these organisations are talking about the cost of tackling the climate emergency created by global heating. They are not talking about funding the Green New Deal, which also tackles the social and economic crises created by a decade or more of austerity. That will cost more. The Green New Deal Group suggests a cost of £50 billion or more. Nonetheless, the broad alignment is useful.
The time for innovative thinking to tackle this crisis has arrived. Reallocating existing savings could provide sufficient funding to deliver a Green New Deal. It is time for that thinking to be better known.