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
Virtual Session Highlights Need to Reform Fossil Fuel Subsidies to Build Back Greener- IISD
Panelists noted that government support going to fossil fuels, including COVID-19 recovery packages, is much higher than support for other energy sources.Among recommendations to better
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,
Carbon pricing could prompt greener, smarter post-COVID recovery
by International Institute for Applied Systems Analysis Newswise — Countries across the globe have been struggling to deal with the impact of COVID-19 and the accompanying
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
From containment to recovery: Environmental responses to the COVID-19 pandemic (OECD)
The focus of this brief is on the immediate steps that governments can take to ensure that emergency measures implemented to tackle the Coronavirus (COVID-19)
Special Series on Fiscal Policies to Respond to COVID-19 – Fiscal Policy Responses to the Sharp Decline in Oil Prices (IMF)
Oil prices have declined sharply as a result of both global demand contraction and supply increase. The urgent priority for oil exporters is to deploy
Special Series on Fiscal Policies to Respond to COVID-19 – 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
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