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
Why Sustainable Food Systems are Needed in a post-COVID World (IMF)
By Nicoletta Batini, James Lomax, and Divya Mehra Food systems are essential to economic activity because they provide the energy that we need to live and work. However,
UK negotiator: Countries must resolve the carbon market dispute to step up ambition
Diplomats will try to make progress on the last unresolved issues of the Paris Agreement in online events run by UN Climate Change next month.
The role of green fiscal policy in the recovery from COVID-19: Experiences, good practices and next steps in Latin America and the Caribbean (UN ECLAC)
Objective: Exploring the role of green fiscal policies in greening a COVID-19 recovery with the aim of supporting public health efforts, reducing environmental and climate
Reports
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
Will COVID-19 fiscal recovery packages accelerate or retard progress on climate change? (SSEE)
The COVID-19 crisis is likely to have dramatic consequences for progress on climate change. Imminent fiscal recovery packages could entrench or partly displace the current
Policy Briefs
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
Green Stimulus – Pembina Institute principles and recommendations for a 2020 economic stimulus package
The Pembina Institute sees the Covid-19 crisis as a moment of paramount importance for ensuring the health of Canadians and the future resilience of the
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