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
Global EV sales accelerating, but government help needed – IEA
Global electric vehicle (EV) sales picked up speed in the first quarter, but more government action is needed on charging stations and fossil-fuel vehicle bans
France and Germany unveil green recovery plans
French Economy Minister Bruno Le Maire and German Finance Minister Olaf Scholz unveiled their national recovery and resilience plans at a joint press conference Tuesday
A Post-Pandemic Green Recovery for Asia
In an upcoming new report, The Asia Foundation and Vivid Economics identify opportunities and propose realistic measures for the governments of China, India, Japan, and
Reports
From pandemic to Paris: the inclusion of COVID-19 response in national climate commitments
Both climate change and COVID-19 are global public health crises threatening lives and livelihoods, increasing poverty, exacerbating inequalities, and damaging economic growth prospects. However, with
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
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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