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 we manage the post-pandemic recovery will be critical to the type of future we want and need. Simply reviving the existing “brown” economy will
World Mayors Call for Car-Free Streets, End to Fossil Fuel Subsidies as Part of ‘Green and Just Recovery’ (EcoWatch)
The C40 Mayors’ Agenda for a Green and Just Recovery, announced Wednesday, includes measures already being adopted in many cities to recover from the pandemic
G20 Governments Have Committed USD 151 Billion to Fossil Fuels in COVID-19 Recovery Packages (IISD)
Data made public today on the Energy Policy Tracker, a new website tracking climate- and energy-related recovery policies, shows a total commitment of at least