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
TERI proposes a fiscally responsible Green Stimulus to revive growth and jobs
The Energy and Resources Institute (TERI) released a discussion paper on ‘A Fiscally Responsible Green Stimulus‘ to revive Indian economy by creating demand and jobs
Going green after COVID-19 will help MENA economies recover better (World Bank Blogs)
The coronavirus crisis is a window of opportunity to transform the economy and especially, to make it “green.” Previous economic crises such as the financial crisis
Green economy & COVID-19 recovery (UNEP)
Every year the High-level Political Forum on Sustainable Development meets to advance the UN System’s agenda on sustainable development. This year, the United Nations Environment
Reports
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
IMF Fiscal Monitor – April 2020
April’s IMF Fiscal Monitor elaborates on the importance of fiscal measures to respond the COVID-19 related crisis. Chapter 1 argues that fiscal policies are at
What policies for greening the crisis response and economic recovery? Lessons learned from past green stimulus measures and implications for the COVID-19 crisis (OECD)
This paper evaluates green stimulus packages that were introduced in response to the global financial crisis (GFC) of 2007-08 and draws lessons relevant for greening
Policy Briefs
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
Redesigning tax for a just, green recovery (Common Wealth)
In response to Covid-19, the Treasury is considering changes to the UK’s tax system on a scale not seen for decades. While changes to the
Pricing carbon during the economic recovery from the COVID-19 pandemic (LSE/Grantham Institute)
This brief argues that once the immediate rescue has been secured and countries move towards recovery from COVID-19, carefully implementing carbon pricing while reducing fossil
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