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.
It might be tricky and some might not like it, but a PCA could lower emissions.
Moving government support for environmentally damaging industries into green sectors like recycling and sustainable forest management could boost employment, report finds.
Raising taxes during an economic downturn might seem counterintuitive but it could be the key to Covid-19 recovery. The secret lies in which taxes to raise: when it comes to impacts on the economy, jobs, and the environment, not all taxes are created equal.
The report analyzes the economic and climate benefits of a green post-COVID recovery, focusing on decarbonizing existing and future energy infrastructure, building climate-smart cities and
Both climate change and COVID-19 are global public health crises threatening lives and livelihoods, increasing poverty, exacerbating inequalities, and damaging economic growth prospects. However, with
The COVID-19 pandemic has exposed the many fragilities of our economies, and deepened existing inequalities, while highlighting the need for resilience, innovation, and cooperation in
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)