News

GFPN Workshop

Role of Fiscal Policies in a Green COVID-19 Recovery: Experience, Best Practice and Next Steps in the Asia-Pacific Region

This workshop, organized by GFPN and UNESCAP, explored the potential role of green fiscal policies in greening the Covid-19 recovery with the aim of supporting public health efforts, reducing environmental and climate change risks, and strengthening resilience to future crises by embedding inclusive and sustainable socio-economic considerations in national economic planning.

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Green Recovery

‘Greta was right’: Trio of reports warns world at risk of squandering green recovery opportunity

Greta Thunberg’s accusation that world leaders are guilty of ‘blah, blah, blah’ in the face of the escalating climate crisis is ‘spot on’, according to a trio of new reports released today, which warn the opportunity provided by the coronavirus crisis to introduce sweeping fossil fuel subsidy reform and ambitious green stimulus packages is being squandered.

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Subsidy

Fossil fuel industry gets subsidies of $11m a minute, IMF finds

The fossil fuel industry benefits from subsidies of $11m every minute, according to analysis by the International Monetary Fund. The IMF found the production and burning of coal, oil and gas was subsidised by $5.9tn in 2020, with not a single country pricing all its fuels sufficiently to reflect their full supply and environmental costs.

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