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.
Recording of the GFPN-GGKP Webinar on the role of fiscal policies for greening the COVID-19 recovery
We are happy to provide the recording of the webinar on “Fiscal Policies to Green the Recovery”, co-organized by the Green Fiscal Policy Network and
Governments should use Covid-19 recovery efforts as an opportunity to phase out support for fossil fuels (OECD & IEA)
As governments design stimulus measures for economies hit by the Covid-19 crisis, they should seize the opportunity of historically low oil prices to redirect some
According to this article, a temporary tax hike on gasoline and diesel is one of the fairest, greenest ways to fund post-pandemic economic stimulus packages.
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
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