Green Dogma Behind Fall Of Sri Lanka, by Michael Shellenberger

Was organic farming behind the collapse in Sri Lanka? From Michael Shellenberger at michaelshellenberg.substack.com:

Organic farm advocates said they wanted what’s best for the 22 million people of the island nation off the coast of India. What went wrong?

Police use water canon to disperse farmers taking part in an anti-government protest demanding the resignation of Sri Lanka’s President Gotabaya Rajapaksa on July 6, 2022. (Photo by AFP) (Getty Images)

Sri Lanka has fallen. Protesters breached the official residences of Sri Lanka’s Prime Minister and President, who have fled to undisclosed locations out of fear of death. The proximate reason is that the nation is bankrupt, suffering its worst financial crisis in decades. Millions are struggling to purchase food, medicine and fuel. Energy shortages and inflation were major factors behind the crisis. Inflation in June in Sri Lanka was over 50%. Food prices rose by 80%. And a half-million people fell into poverty over the last year.

But the underlying reason for the fall of Sri Lanka is that its leaders fell under the spell of Western green elites peddling organic agriculture and “ESG,” which refers to investments made following supposedly higher Environmental, Social, and Governance criteria. Sri Lanka has a near-perfect ESG score (98) which is higher than Sweden (96) or the United States (51).

To be sure, there were other factors behind Sri Lanka’s fall. Covid lockdowns and a 2019 bombing hurt tourism, a $3 billion to 5 billion-per-year industry. Sri Lanka’s leaders insisted on paying China back for various “Belt and Road” infrastructure projects when other nations refused to do so. Sri Lanka racked up a huge foreign debt. And higher oil prices meant transportation prices rose 128% since May.

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