How can fiscal policy support socio-economic development, and the environment? Join H.E. Minister Lee White of Gabon to explore new practical methods for understanding potential policy impacts during budget planning.
Irish farmers continue to see annual payments penalised for maintaining biodiversity hotspots despite concerns raised by the State over the climate and biodiversity crises.
Greta Thunberg’s accusation that world leaders are guilty of ‘blah, blah, blah’ in the face of the escalating climate crisis is ‘spot on’, according to a trio of new reports released today, which warn the opportunity provided by the coronavirus crisis to introduce sweeping fossil fuel subsidy reform and ambitious green stimulus packages is being squandered.
The current design of some taxes sets a number of ecological disincentives – for example, it encourages the consumption of environmentally harmful products and provides little incentive for more sustainable
This paper takes stock of the contributions made by these various trackers, identifies strengths and weaknesses of their methodologies, and draws lessons for assessing the climate impact of fiscal policy going forward. It finds that: trackers provided useful assessments of the (generally low) level of greenness and raised awareness; trackers’ methodologies, while valid and innovative, varied significantly with some important, if currently largely unavoidable, weaknesses; and the way forward should involve tracking the greenness of entire government budgets, rather than just their response to the COVID-19 crisis.
Biodiversity, Natural Capital and the Economy: A Policy Guide for Finance, Economic and Environment Ministers (OECD)
This report provides the latest findings and policy guidance for G7 and other countries in four key areas: measuring and mainstreaming biodiversity; aligning budgetary and fiscal policy with biodiversity; embedding biodiversity in the financial sector; and improving biodiversity outcomes linked to international trade.
Although developing countries may gain significantly from global mitigation efforts in the long run, given their greater exposure to climate risks, in the short run they may have little incentive to undertake costly emission reductions. Can the CBAM incentivize them to comply?
This column analyses the effectiveness of carbon taxes and border tax adjustment policies in reducing emissions and shaping firms’ decisions on abatement investment and firm location.
Today’s food systems generate $12 trillion in hidden social, economic, and environmental costs. It prioritizes volume over nutritional value, fails to pay a living wage while creating sizeable profits for a concentrated set of players, and treats the natural environment as an infinite resource – resulting in massive waste and undermining the stability of the entire food system and global economy.