Featured Article: What are the fiscal risks from extreme weather events and how can we deal with them? By Luis Alejos Focus region: Latin America
Current approaches to environmental stewardship are demonstrably failing given the existential threats of climate change and biodiversity loss. Many factors contribute to global environmental degradation, but one that has received relatively little attention is the lack of government transparency and accountability for environmental stewardship compared to other policy domains, and the systematically weak integration of environmental stewardship into overall government strategy and target setting.
The response to COVID-19 has not been commensurate with the magnitude of the climate crisis. Besides green investment, which fiscal instruments can engender a process of structural change leading to a more sustainable growth model?
As developing countries attempt to plan for a post-pandemic recovery, they should be given a genuine opportunity to deal with their debt burden and in tandem tackle the challenge of climate and nature that threaten to derail their economies.
Implementing border carbon adjustments can be a challenge when the countries involved don’t have a carbon price. Recent RFF research considers how to design border carbon adjustments around local variations in carbon pricing policy.
This piece, based on an INSPIRE-funded research project, examines whether a combination of green quantitative easing (a monetary policy) and a global carbon tax (a fiscal policy) can effectively contribute to climate mitigation.