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.
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
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
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
This policy tracker summarizes the key economic responses governments are taking to limit the human and economic impact of the COVID-19 pandemic. The tracker includes