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.
Global institutions unite around key actions for green and fair economic recovery from COVID-19 (UN PAGE)
On World Environment Day, 5th June 2020, global institutions working on development, labour and environment have united around key actions for spurring a green, just
Tiza Mafira, Associate Director at CPI, argues that Indonesia has a unique opportunity to learn from past mistakes and build a recovery that improves the
As oil-exporting countries struggle to respond to the crisis, there is a way to make critical fiscal resources available. To read the full article, refer
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