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.
The Energy and Resources Institute (TERI) released a discussion paper on ‘A Fiscally Responsible Green Stimulus‘ to revive Indian economy by creating demand and jobs
The coronavirus crisis is a window of opportunity to transform the economy and especially, to make it “green.” Previous economic crises such as the financial crisis
Special Series on Fiscal Policies to Respond to COVID-19 – Fiscal Policy Responses to the Sharp Decline in Oil Prices (IMF)
Oil prices have declined sharply as a result of both global demand contraction and supply increase. The urgent priority for oil exporters is to deploy
Fiscal policy across the globe is rightly focused on fighting the COVID-19-induced economic crisis. But the climate change crisis remains, as does the need for
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