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.
BUENOS AIRES, Nov 26 2020 (IPS) – As the world’s leading economies direct trillions of dollars towards Covid-19 recovery packages, a significant proportion is going to
The COVID-19 pandemic has ushered in a new wave of green stimulus policies to both tackle climate change and rebuild the global economy.In 2008 after
Panelists noted that government support going to fossil fuels, including COVID-19 recovery packages, is much higher than support for other energy sources.Among recommendations to better