A weak climate law will cripple Israel’s business

The Ministry of Finance should reconsider its objections to hard targets if it wants to ensure Israel’s competitiveness

Since March of this year, India has been suffering a massive economic blow due to an extreme heatwave. This is the hottest it has been in the country in at least 120 years. Daily temperatures above 45 degrees celsius (113 fahrenheit) have led to a near total shutdown of India’s daily life: workers unable to work past 10am, children unable to stay in school past 11am, office buildings unable to operate midday due to skyrocketing energy prices. Crop failure. Manufacturing breakdown. Infrastructure degradation. One of the world’s largest economies has been crippled by just one of many extreme weather events expected this year alone.

Only a few hours west, and not far in terms of latitude, Israel, too, has seen an odd start to Spring. Intermittently since February, dust storms have blanketed Israel and our neighbors, most significantly for 20 days of April. Aside from the long-term economic impact due to the effect of this dust on our health, these storms also had immediate economic effects, as the elderly, children, and pregnant women were all told to avoid the outdoors.

This is the background against which Israel’s Ministry of Finance has decided to severely weaken a proposed climate law, on the grounds that doing so would be better for business. Business leaders who care about having viable businesses past 2030 need to speak up to share their disagreement.

Continue reading on the Times of Israel