Covid-19
COVID-19 has plunged the global economy into crisis. Green fiscal policies (GFP) can play a key role in shaping the recovery. As governments are devising green fiscal stimulus policies, they must look to maximize short-term growth and employment effects, but they have also a lever in hand to steer economies to a green and fair transition. The collapse of the oil price has created a window of opportunity for carbon taxes and fossil fuel subsidy reform to mobilise revenue and drive low-carbon development. Green budgeting can rationalise inefficient expenditures and align spending with sustainability. In developing countries with limited fiscal space, GFP can be part of a sustainable solution.
News
New Malawi initiative to restore 25,000 hectares of forest landscape
The Food and Agriculture Organization of the United Nations (FAO) and the Government of Malawi, through the Ministry of Forestry and Natural Resources, have launched
African campaigners urge climate action to hasten green recovery
Sub-Saharan African countries should intensify action on climate change concurrently with COVID-19 containment in order to realize a speedy, inclusive and green recovery, campaigners said
EU pandemic recovery plans set to bailout fossil-fuel companies
Across Italy, France, Portugal and Spain, at least €8.3bn of EU recovery funds are planned to be spent on hydrogen and renewable gases thanks to
Reports
Mapping India’s Energy Subsidies 2021: Time for renewed support to clean energy (IISD, GSI and CEEW)
This report examines how the Government of India has used subsidies to support the various energy sectors in India since announcing its renewable energy target
A clean COVID-19 pandemic recovery: the global opportunity (EY Parthenon)
Ready-to-go renewable energy projects can provide emissions reduction, jobs and economic growth. With the right policy levers, areas in most need of jobs and growth can be winners in the green recovery.
External Debt In Small Island Developing States: One-year into the COVID-19 crisis, where do we stand? (OECD Report)
Debt challenges, exacerbated by the economic consequences of the COVID-19 pandemic, are not homogeneous across SIDS.
Policy Briefs
COVID-19 pandemic: Towards a blue recovery in small island developing states (OECD)
This policy brief: (i) highlights the impacts of the coronavirus (COVID-19) pandemic across SIDS; (ii) provides an overview of the support delivered by development co-operation providers to face the crisis; and (iii) provides suggestions to ensure that international support can lead to a fast and sustainable recovery in SIDS: a ‘blue’ recovery.
Leveraging fiscal stimulus to improve energy transition: Case of South Korea and Indonesia
Strict lockdowns across the globe in response to the COVID-19 crisis have led to severe economic consequences. Compared to 2019, the global GDP in 2020
COVID-19 and the climate crisis: Combining green budgeting and tax policy tools for better recovery (OECD)
By Elsa Pilichowski, Director of Public Governance, and Pascal Saint-Amans, Director of the Centre for Tax Policy and Administration It has been said that the
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