Imagine you needed to solve the greatest problem facing humanity; a problem that was universally acknowledged and whose solution was an urgent necessity. Most of us would do anything to save a person we love. Surely we would also spend any amount of money, mortgage our futures even, to save the planet, our life-support system, from catastrophic climate change? But with such commitment and devotion comes vulnerability. This is particularly so when it comes to the issue of climate finance.
Even in the depths of global economic despair in 2009 when we needed really aggressive monetary policy, the measures used and the quantum of money printed as Quantitative Easing was much too timid, and anyway it got stuck in the bowels of banks' balance sheets as excess reserves as they were all too terrified of lending money on to real people or businesses, as the policy intended.
There were some tactics to stimulate growth including a £130billion guarantee for mortgages in an effort to boost the ailing housing market, an increase in the personal tax allowance for the starting rate to £10,000 and a reduction in corporate national insurance tax. However none of these measures are likely to give the economy the boost it needs to get through this 'difficult' year, in which the economy is likely to fall back into a 'Triple Dip' recession.