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
UNEP – Oxford Smith School high-level panel
Are we building back better? An online UN-Oxford panel discussion with leaders from key countries and international institutions. WEDNESDAY 10TH MARCH 2021Key questions for a
The world is ‘doubling down’ on fossil fuels despite climate crisis – UN report
Production must fall by 6% a year to avoid ‘severe climate disruption’ but Covid-19 funding is supporting increases The world’s governments are “doubling down” on
G20 Puts More into Fossil Than Green Energy in Covid-19 Recovery Packages
BUENOS AIRES, Nov 26 2020 (IPS) – As the world’s leading economies direct trillions of dollars towards Covid-19 recovery packages, a significant proportion is going to
Reports
Greening the Recovery (IMF)
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
Whose Green Recovery? Why poorer countries must not be left behind by richer countries’ recovery plans (ACT Alliance)
Poor countries could turn to fossil fuels as ‘green recovery’ leaves them behind says new report. A new report from development charity Christian Aid has
Equity, Climate Justice, and Fossil Fuel Extraction: Principles for a Managed Phase Out (OilChange)
As COVID-19 and other factors force an unmanaged decline of oil and gas, a new peer-reviewed study by Greg Muttitt and Sivan Kartha outlines how
Policy Briefs
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
UNEP Policy Brief on Building Back Better – Role of Green Fiscal Policies
The COVID-19 pandemic has exposed the many fragilities of our economies, and deepened existing inequalities, while highlighting the need for resilience, innovation, and cooperation in
Proposed Sustainability Checklist for Assessing Economic Recovery Interventions April 2020 (World Bank)
The checklist essentially raises questions that governments should consider to assess projects and zero in on the most promising. Many governments already have sophisticated decision
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