In response to the Covid-19 pandemic and the ensuing economic crisis, governments worldwide have mobilised an unprecedented amount of fiscal support aimed at stabilising and rebuilding their economies – over USD 16 trillion, based on the latest International Monetary Fund (IMF) estimates.
Many countries have identified clean energy measures as a priority within their fiscal support measures. The IEA Sustainable Recovery Plan, developed in 2020 in collaboration with the IMF, estimated that if governments mobilised USD 1 trillion in clean energy investments each year from 2021-2023, they would boost the global economy, create millions of jobs and put emissions onto a Paris-compliant trajectory.
The new IEA Sustainable Recovery Tracker measures global recovery plans against this target level of spending by:
- Monitoring energy-related policies and government spending on clean energy measures by country and by sector in the wake of the pandemic.
- Evaluating the actual impact of total public and private recovery spending on clean energy measures.
- Projecting the effect on global CO2 emissions trends.
The Tracker relies on new, extensive policy analysis conducted by the IEA, including new modelling to estimate how much government spending mobilises private sector participation by region and measure type.
The Tracker will be updated periodically to provide up-to-date assessments of how recovery plans are affecting clean energy investments and global emissions.