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.
A report by Finnish company Wärtsilä has estimated the potential impact if every dollar committed to a non-renewables energy sector recovery was instead funneled to
Role of fiscal policies in a green COVID-19 recovery: Experience, Best Practice And Next Steps In the LAC region
S A V E. T H E. D A T E. With UN ECLAC, we are organising a virtual event on the – Role of
U.N. Secretary-General Antonio Guterres called Thursday on governments not to “throw away” economic stimulus funds by supporting fossil fuel industries that contribute to global warming.
Building Resilience: WWF Recommendations For A Just & Sustainable Recovery After Covid-19 – Using The European Green Deal To Drive Europe’s Recovery And Transition Into A Fair, Resource-efficient And Resilient Society (WWF)
The Covid-19 pandemic and its immediate health, social and economic impacts require an urgent response. Beyond this, however, public stimulus packages to relaunch the economy
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
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)