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
The employment impact of a green fiscal push
The green investments in Senate-passed, bipartisan infrastructure legislation could, over several years, help manual laborers whose jobs are at risk as the world transitions away from fossil fuels.
Latin America and Caribbean ‘failing to invest in sustainable post-Covid recovery’
Environmentally sustainable post-COVID-19 spending in Latin America and the Caribbean lags behind the rest of the world, according to a new platform co-developed by the University of Oxford that showcases real-time data from 33 countries.
Southeast Asia could lose $28 trillion if it fails to act fast on climate change, report finds
Southeast Asia’s economy is set to lose trillions over the next 50 years if it does not significantly reduce its carbon emissions, a Deloitte report found.
Reports
External Debt In Small Island Developing States: One-year into the COVID-19 crisis, where do we stand? (OECD Report)
Debt challenges, exacerbated by the economic consequences of the COVID-19 pandemic, are not homogeneous across SIDS.
IUCN Nature-Based Recovery Initiative Technical Papers
The COVID-19 pandemic is forcing us all to re-think the status quo, opening the door for sustained investments in nature and Nature-based Solutions (NbS) to be part of the recovery.
Building Back Broader: Policy Pathways for an Economic Transformation (WEF)
As the world recovers from the COVID-19 pandemic, the challenge now is to ensure a consistent, fair economic recovery. The World Economic Forum brought together experts to identify the most
Policy Briefs
How to Manage Public Investment during a Postcrisis Recovery (IMF)
This How to Note discusses how countries should manage public investments to recover from the COVID-19 pandemic and similar crises. It provides countries with guidance on making efficient use of public investment to support economic recovery on three different capacity levels: basic, medium, and advanced.
COVID-19 pandemic: Towards a blue recovery in small island developing states (OECD)
This policy brief: (i) highlights the impacts of the coronavirus (COVID-19) pandemic across SIDS; (ii) provides an overview of the support delivered by development co-operation providers to face the crisis; and (iii) provides suggestions to ensure that international support can lead to a fast and sustainable recovery in SIDS: a ‘blue’ recovery.
Leveraging fiscal stimulus to improve energy transition: Case of South Korea and Indonesia
Strict lockdowns across the globe in response to the COVID-19 crisis have led to severe economic consequences. Compared to 2019, the global GDP in 2020 fell by 4.3 %, the
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