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The Green Fiscal Policy Network works to facilitate knowledge sharing and dialogue on fiscal policies for an inclusive green economy.

Green fiscal policies for a sustainable and resilient COVID-19 recovery

As governments embark on resourcing and legislating COVID-19 relief and recovery measures, green fiscal policy approaches can play a key role in helping countries build back better. In the short-term, carbon taxation and/or fossil fuel subsidy reform can help generate and re-allocate significant resources for COVID-19 relief and recovery measures, while green budgeting can be a valuable instrument for medium-to long-term rationalisation and alignment of budgetary processes with government objectives for a sustainable and resilient post COVID-19 socio-economy.

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IMF Special Series on Fiscal Policies to Respond to COVID-19 – Greening the Recovery

Fiscal policy across the globe is rightly focused on fighting the COVID-19-induced economic crisis. But the climate change crisis remains, as does the need for decisive policy action to address it. Indeed, decisions taken now to address the COVID-19 crisis may shape the climate, and human health, for decades.

While periodic international monitoring on fossil fuel subsidies is carried out by international organisations such as the OECD, IMF and IEA, reporting under the SDG12.c.1 indicator will be the first attempt to systemically monitor fossil fuel subsidies to both consumption and production based on national data from 193 UN member countries and to collect this using an internationally agreed methodology. This monitoring and reporting on fossil fuel subsidies will help to increase transparency on fossil fuel subsidies, providing comparable data to allow the tracking of national and global trends.

Green Stimulus Index – An assessment of the orientation of COVID-19 stimulus in relation to climate change, biodiversity and other environmental impacts

Over the past 2 months the world has witnessed unprecedented government financial interventions in response to Covid-19.The coronavirus shows us that our fate is inextricably linked to that of the natural world, and governments have the opportunity and responsibility to ensure short-term emergency measures lead to a better more resilient future. The Green Stimulus Index examines 11 major economies to assess the green vs. brown orientation of their stimulus funding.

This OECD brief proposes immediate steps that governments can take to ensure that emergency measures implemented to tackle the Coronavirus (COVID-19) crisis do not derail their efforts to address pressing environmental challenges and improve the environmental health and resilience of societies.

Greening the Recovery (IMF)

2020-11-11 No Comments

Fiscal policy across the globe is rightly focused on fighting the COVID-19-induced economic crisis. But the climate change crisis remains, as does the need for

Introduction of a new plastic packaging tax (GOV.UK)

2020-11-30 No Comments

General description of the measure This is a new tax that applies to plastic packaging produced in, or imported into, the UK, that does not

Countries need to phase out fossil fuels. Here’s how to do it fairly.

2020-11-25 No Comments

Staying within climate limits requires restricting fossil fuel extraction as well as demand. But where and how should it be restricted? Our new paper proposes five principles