Livemint
Does Greta Thunberg need an eco education? In ecology, most certainly not, but in economics? It’s what US Treasury Secretary Steven Mnuchin advised the 17-year old green activist on Friday, suggesting that she is clueless how the world works. This was in response to her demand at the World Economic forum summit at Davos that fossil fuels be given up right away. In one way, Mnuchin is right. An abrupt stop to the use of oil, gas, coal and spewers of carbon-heavy gases would result in an economic seizure. These are the world’s primary energy source, and an instant switchover to renewables an nuclear power is impossible. But he is wrong about the adequacy of her knowledge.
As Thunberg tweeted, “My gap year ends in August, but it doesn’t take a college degree in economics to realise that our remaining 1.5° carbon Budget and ongoing fossil fuel subsidies and investments don’t add up.” In support, she had a graph from a United Nations Environment Programme report that placed the crisis in sharp relief. At the current rate of emissions, the global goal of capping temperature rise to no more than 1.5° Celsius could be lost by 2027. The deficit in reduction efforts is just too vast.
Instead of taking swipes at Thunberg, perhaps Mnuchin should advise US President Donald Trump to give up his obstinacy on climate change, cap his country’s emissions, and work out the equivalent of a Marshall Plan to help other countries deal with the problem.
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