Green Myths and Hard Realities: Sri Lanka as a Warning
With Sri Lanka’s short-lived green revolution of 2021 having quickly devolved into a real revolution just one year later, complete with the ouster of former president Gotabaya Rajapaksa’s incompetent and authoritarian government this past week, now is a good time to hammer home not only why the effort failed, but why so-called ESG (environmental, social, and governance) policies and the green energy movement more generally are hopeless and destructive wastes of time.
First, facing financial difficulties largely the result of taking on heaps of Chinese loans for projects of questionable or outright nonexistent value, Rajapaksa’s government abruptly informed its overwhelmingly agricultural society that its farmers would no longer be allowed to use the petrochemical fertilizers, herbicides, and pesticides that made feeding the population of tens of millions possible. Forced to go organic, Rajapaksa, suddenly the darling of Western environmentalists everywhere, watched as his countrymen fell quickly into starvation and poverty. Twenty percent drop-offs in the production of rice and tea, the country’s staples, led to inflation of over 50 percent and to nine out of every ten Sri Lankan families skipping meals each day.
While no economy or society could have been expected to handle such a food-supply-disrupting decree without immense suffering, let alone a poor and civil-war-wracked state like Sri Lank
Article from Mises Wire