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.
How to create twice as many jobs by integrating climate policies in COVID-19 economic recovery packages – An illustration from Cyprus
THEODOROS ZACHARIADIS, NESTOR FYLAKTOS, ELIAS GIANNAKIS, CONSTANTINOS TALIOTIS, MARIOS KARMELLOS, MARK HOWELLS, WILL BLYTH, STÉPHANE HALLEGATTE Everybody agrees that a strong policy response to COVID-19
Production must fall by 6% a year to avoid ‘severe climate disruption’ but Covid-19 funding is supporting increases The world’s governments are “doubling down” on
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
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