On May 29, 2020, The Guardian reported increasing evidence on the link between exposure to air pollution and COVID-19 infections and death rates. To make societies more resilient and avoid a second wave, tackling air pollution must play a central role in the recovery.
On Air Pollution and Avoiding Other COVID-19 Waves
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How Can Procurement Drive the Global Green Recovery?
Commentary
Public procurement is more crucial than ever, as most of the COVID-19 recovery spending will be channelled through this process—so how can we ensure it drives innovation, inclusivity, and sustainability? And can we take this opportunity to rebrand it as a strategic (not just administrative) government function? As soon as the COVID-19 pandemic began, we saw an...Read more »
53 Ways to Reform Fossil Fuel Consumer Subsidies and Pricing
Commentary
The evidence is crystal clear that fossil fuel subsidies are environmentally harmful and undermine efforts to tackle climate change. In the aftermath of COVID-19, governments have an opportunity to use subsidy reform and fuel taxation as tools for a green recovery. (…) Today’s low global oil prices provide a chance for countries to reform their fossil fuel subsidies without...Read more »
Cycling and COVID-19: Why investments to boost cycling are important for a sustainable recovery
Commentary
Around the world, the number of people walking and cycling has risen to unprecedented levels during the COVID-19 pandemic. For example, the number of kilometres travelled by bike in Switzerland doubled during the country’s partial lockdown, while counting stations in Philadelphia saw the number of cyclists increase by an average of 150%. Government leaders are...Read more »
Spending to Build Back Better
Commentary
To ensure this spending does in fact “build back better,” governments must tie their spending to sustainability targets or conditions.
Is a low-carbon recovery already lost? (webinar recording available)
Webinars
A conversation with Prof. Gail Whiteman, Founder, Arctic Basecamp Monday, July 6, 2020, 6:00 PM Central European Summer Time (CEST). Are we indeed seeing a low-carbon recovery? What are the early signs and who are the front runners? And should we be doing more to reward them? Post-pandemic greenhouse gas emissions are rising, and, as we...Read more »
Environmental, Social, and Governance Targets of the March 2020 Economic Stimulus
Commentary
Examples of economic stimulus packages announced in March 2020 Can these economic stimulus packages be accompanied by targets on environmental performance, social cohesion, and economic governance? The humanitarian crisis caused by the COVID-19 pandemic continues to be devastating, and targeting stimulus spending on emergency responses, healthcare, food security, and keeping jobs and small businesses alive...Read more »
Why Investment in Climate Information and Early Warning Systems is so Critical in a Post-Pandemic Era. (webinar recording available)
Webinars
A conversation with Joseph Intsiful, a Senior Specialist at the Green Climate Fund who focuses on climate information and early warning systems, and Andrea Bassi, Senior Associate, IISD and CEO KnowlEdge. Webinar 2: July 10, 2020, at 10:00 AM Central European Summer Time (CEST) Watch the webinar’s full recording below: Joseph and Andrea explored why...Read more »
Why Investing in Sustainable Community Development Is a Pragmatic Recovery Plan: The case for Ghana
Simulations
A series of four What-If simulations have been conducted in a vulnerable agricultural community in Ghana on sustainable recovery investments that can foster sustainable community development. These simulations were done in collaboration with the Green Climate Fund.
Why Investing in Solar Photovoltaic Energy Generation Is a Pragmatic Recovery Plan for Rural Communities in Ghana
Simulations
This What-If simulation estimates the impact of investing in solar photovoltaic energy generation in a rural community in Ghana. Costs and benefits, including the value of avoided carbon emissions, are estimated for two financing scenarios: one that includes the provision of sustainable recovery support by the Green Climate Fund and one that does not.
Why Investing in Biogas Energy Generation and Compost Production Is a Pragmatic Recovery Plan for Rural Communities in Ghana
Simulations
This What-If simulation estimates the costs and societal benefits from investing in biogas energy generation and compost production based on pig manure reuse in a rural community in Ghana. The simulation results serve to inform the Green Climate Fund and other public donors and investors whether such investments should be targeted by sustainable recovery financing.
Green Recovery Plans Can Unlock Millions More Jobs Than ‘Return-to-Normal’ Stimulus
Commentary
As EU leaders continue to thrash out the details of the bloc’s recovery measures, there is growing evidence a green recovery is the best way of tackling the mounting economic and jobs crisis—both in the short and long terms. COVID-19 is going to result in a substantial economic cost, both in gross domestic product (GDP)...Read more »
Avoiding a Zombie Recovery: Public money for clean energy, not for fossil fuels
Webinars
16. November 2020, 3 P.M. Central European Time As part of the London Climate Action Week, the International Institute for Sustainable Development (IISD) and partners organize an interactive session about green recovery efforts in the energy sector. The event is related to the EnergyPolicyTracker.Org, a project by over 20 independent research organizations tracking public money...Read more »
Why We Should Use Simulation to Inform Policy Decisions in a Post-Pandemic Environment
Commentary
The COVID-19 pandemic has reinforced the urgency of investing in policy decisions that will mitigate the risk and scale of environmental and economic crises in the future. With many governments using infrastructure spending as a recovery tactic, policy makers need to prioritize sustainable and resilient projects. Simulation offers data-driven and evidence-based forecasts of a project’s...Read more »
Are Investments in Road Infrastructure on Borneo a Sustainable Recovery Strategy for Malaysia?
Simulations
This What-if simulation forecasts the economic, social and environmental outcomes of recovery spending on a road infrastructure project in Malaysia: the Pan Borneo Highway. The implementation of this large-scale highway project has commenced and is set for completion in 2023.
NDC Enhancement and COVID-19 Recovery: Building Blocks for a Sustainable Future
Commentary
As 2020 began, the question of whether and how countries would strengthen their commitments under the Paris Agreement loomed large, driven by a global youth climate movement and a growing recognition of the urgency to keep temperature change below 1.5 degrees C. The sudden arrival of the COVID-19 pandemic greatly complicated this task, consuming the...Read more »
Building Climate-Resilient and Equitable Cities During COVID-19
Commentary
Cities are on the frontlines of COVID-19, with urban residents facing devastating health and economic impacts. Many city leaders are responding with creative solutions, recognizing that actions in response to the pandemic can also make cities greener and more climate resilient. Addis Ababa, Bogota, Kampala, Berlin and Brussels created new bike lanes to reduce risk...Read more »
Making a green recovery inclusive for all Canadians
Commentary
Canadians want a green and inclusive recovery. Here’s how to advance both. The damage that COVID-19’s dual economic and health crises have brought on Canada have been well-documented. Although the economy has started to recover, Canadians continue to face a lengthy period of economic turbulence ahead. The federal government has indicated that spending on an...Read more »
How Can India’s Energy Sector Recover Sustainably from COVID-19?
Commentary
The International Institute for Sustainable Development (IISD) and the Council on Energy, Environment and Water (CEEW) published the second part of a commentary series about the recovery of India’s energy sector. The series takes a detailed look at how India’s energy sector is coping with the impacts of COVID-19 and what this means for the...Read more »
Green Recovery Know-How From the Nordics
Commentary
In response to the COVID-19 crisis, several Nordic countries are continuing their trend of investing in a green economy. Finland’s recovery plan includes approximately EUR 500 million for green investments, including public transportation, recapitalizing its climate fund, and phasing out oil heating. Denmark has adopted 13 climate partnerships with the business sector to build a green economy....Read more »
Israel’s ‘smart commuting’ shows what public transport could be like after COVID-19
Commentary
Israel is one of the world’s leading innovators in the mobility sector, having generated some $35 billion worth of innovations such as technologies for self-driving cars. However, anyone who’s visited the country would admit its own transportation system is lagging. It relies heavily on single-occupancy rides and inefficient, fragmented public transport, resulting in traffic jams,...Read more »
COVID-19 Recovery: A game-changer for sustainable urban mobility?
Commentary
Opportunities for Non-Motorized Transport Infrastructure The COVID-19 lockdowns had an immediate and drastic impact on transport systems and mobility, in particular on the mobility patterns of people. Strict regulations imposed by governments around the world have affected the delivery of and demand for public transport services in and across many cities and countries, as highlighted...Read more »
Using Simulation to Plan a Low-Carbon Recovery (webinar recording available)
Webinars
A conversation with Leonardo Garrido, Lead Economist, New Climate Economy, and Andrea Bassi, CEO, KnowlEdge, and Senior Associate, IISD. 15 July 2020, at 4:00 PM Central European Summer Time Watch the webinar’s full recording: Planning a low-carbon recovery requires that we look ahead to determine how public spending today can trigger economic growth tomorrow. But growth...Read more »
Debt-To-Health Swaps: Financing health system resilience beyond the COVID-19 pandemic
Commentary
On April 13, 2020, the International Monetary Fund (IMF) approved immediate debt relief to 25 of its member countries under the adapted Catastrophe Containment and Relief Trust (CCRT). The debt relief is one of several measures to alleviate the impacts of the COVID-19 pandemic and supports, especially vulnerable and indebted countries for an initial phase...Read more »
Related News
The Rockefeller Foundation Commits USD 1 billion to Green Recovery in Developing Countries
On October 26, 2020, The Rockefeller Foundation announced its commitment of USD 1 billion over the next 3 years to strengthen health systems and improve access to clean energy in developing countries. This commitment to green recovery in developing countries intends to rebuild economies and secure a safer future. Beyond the economic benefits that this...Read more »
IEA Report Demands Greater Efforts for the Clean Energy Transition
The International Energy Agency (IEA) has published its new flagship report, Energy Technology Perspectives 2020. It analyses more than 800 different technology options to assess pathways to reaching net-zero emissions by 2070 while ensuring a resilient and secure energy system. According to the report, transitioning only the power sector to clean energy would get the...Read more »
Using Debt Swaps to Tackle Debt, Climate, and Nature Loss
The International Institute for Environment and Development (IIED) published a paper about the use of debt swaps to address the debt, climate, and biodiversity crises. Published in September 2020, the paper illustrates how governments could address this triple crisis in their COVID-19 recovery packages using debt for climate and nature program swaps. According to the...Read more »
New Report on Nature-Based Solutions seeks to boost investments for a Green Recovery
On August 27, 2020, partners of the U.K. Ignition project launched the report Nature-Based Solutions to the Climate Emergency: The Benefits to Business and Society. The project’s aim is to develop innovative financing solutions for investments in Greater Manchester’s natural environment, helping the city to adapt to the impacts of climate change. The report presents...Read more »
Natural Capital: HSBC and Pollination create large investment venture
On August 26, 2020, The Guardian reported the creation of a new joint venture that seeks to invest billions in natural capital around the world. HSBC Global Asset Management and Pollination, a climate advisory and investment firm, are forming the world’s largest investment firm dedicated to environmentally friendly projects beyond renewable energy. The plan is...Read more »
Bioenergy: Five principles for recovery and acceleration
In August 2020, the Biofuture Platform launched a set of voluntary principles designed to help economies create jobs in the bioenergy sector. The Biofuture Platform is a government-led, multi-stakeholder initiative supporting international coordination for a low-carbon bioeconomy. The bioenergy sector, currently employing around 3 million people worldwide, was severely hit by the COVID-19 pandemic. At...Read more »
Ending the Carbon Economy to Build Back Better
In August 2020, more than 100 economists called for an end to the carbon economy in a letter published by The Guardian. They argue that, while the current crisis drastically reveals the weaknesses of the current economic system, it also offers a window of opportunity to build back better and foster stability. The letter includes...Read more »
UN PRI Releases Framework to Guide Responsible Investors in Engaging with Policy-Makers on a Sustainable Recovery
On July 6, 2020, the United Nations Principles for Responsible Investment (UN PRI) released a framework to guide investors in engaging with policy-makers on a sustainable recovery. UN PRI writes that, as policy-makers are rolling out recovery strategies, investors should engage with them to provide technical expertise and to ensure that capital is steered toward...Read more »
How efficient cooling can support a green recovery
In June, E3G and the Kigali Cooling Efficiency Program published a report on how climate-friendly cooling can support a clean, resilient Covid-19 recovery. They identified six key opportunities for including sustainable cooling solutions in stimulus packages that can create jobs, reduce emissions, secure the supply chains of medical care products and food, and boost the...Read more »
Global supply chains face turbulence not turmoil?
Bloomberg’s Supply Lines provides thought provoking perspectives Jim Thompson, founder and chairman of Crown Worldwide Group. Thomson draws from experience since 1965 in the logistics industry. He suggests that COVID 19’s supply chain disruptions will signify and bumpy ride rather and a dramatic fall in global trade. Thomson also remains skeptical that digital technologies and...Read more »
Why Is Inclusiveness so Important for a Sustainable Recovery?
Evidence is emerging regarding the consequences of economic and income inequality. The UN High Commission for Human Rights reports on the disproportionately severe impact of COVID-19 on racial and ethic minorities. Likely causes for the higher death rates across minorities in all countries include poor health care, overcrowded housing, exposure to environmental risks, and broader...Read more »
Clean Energy Stimulus Plan published by the IEA
The International Energy Agency (IEA) in collaboration with the International Monetary Fund (IMF) published a Sustainable Recovery Plan on June 18th, 2020 that suggests a $3-trillion stimulus package for transitioning globally towards clean energy over a course of three years. The plan focusses on stimulus measures for six sectors that the EIA identifies as fundamental...Read more »
Sustainable investing passed its first real test
Sustainable investing will play an important role in financing COVID-19 recovery measures alongside other pressing social and environmental objectives. Therefore, it is great to see that sustainable investing passed its first real test of how much investors really care about sustainability. The FT reports that the COVID-19 pandemic has not seemed to impact investor’s commitment...Read more »
No Sustainable Recovery Without Gender Equality
In a sustainable recovery, social protection measures must reflect the current role of women in the care economy. UN Women also pleads for ensuring women have a seat at the table in the design of economic recovery packages, as there is plenty of evidence that more inclusive responses to crises are also better and more...Read more »
Sustainable Policy Responses for the Aviation Sector
The Climate Action Network published a policy manual on June 03, 2020 for governments on how to attach carbon emission targets to bailouts provided to the aviation industry. The manual lists further policy recommendations for aligning this industry with the goals of the Paris Agreement and achieving net-zero aviation emissions by 2050. Policies should address...Read more »
Access to Opportunities for Disadvantaged Groups Key to Sustainable Recovery
In May 2020, the International Monetary Fund and the World Bank Secretariat published a new report that analyzes the inequalities that arose from the COVID-19 pandemic and demonstrates how already disadvantaged groups have been disproportionately affected. The report illustrates why it is so important for a sustainable recovery to ensure access to opportunities on the...Read more »
How Can Economic Recovery Measures Be Designed to Build Back Better?
On June 5, 2020, the Organisation for Economic Co-operation and Development published a brief on how economic recovery measures can be designed to build back better. Governments must put well-being and inclusiveness at the centre of their approach to a resilient recovery, while at the same time staying on track to achieve the goals of...Read more »
More Than USD 500 Billion Going to High-Carbon Industries
While many calls to action for green or sustainable recovery have been made, The Guardian reported on June 6, 2020, that at least USD 500 billion will be benefiting fossil fuel industries, without green strings attached.
No Better Cure Than Prevention
On June 4, 2020, on the evening before World Environment Day, the International Union for Conversation of Nature (IUCN) explained in this blog why protecting our natural environment is a safer and cheaper option than waiting for the next crisis to hit.
Investing in Climate Change Adaptation Can Generate More Than USD 7.1 Trillion in Net Benefits
The World Resources Institute reports that the rate of return of climate adaptation investments ranges from 2:1 to 10:1. The investments considered in the simulation include strengthening early warning systems, making new infrastructure climate resilient, improving dryland agriculture for crop production, protecting mangroves, and making water resources more resilient. These five investment areas alone can...Read more »
Japan Unveils USD 700 Billion Stimulus Package
On December 8, 2020, Japanese Prime Minister Yoshihide Suga announced a new USD 708 billion economic stimulus package. The package will comprise about USD 384.5 billion in direct fiscal spending and initiatives aiming at reducing carbon emissions and fostering digital innovation. For example, USD 19.2 billion is earmarked for a fund to promote carbon neutrality...Read more »
Recovery Plan: Italy intends to invest in a green transition and sustainable mobility
The Italian government unveiled the outline of the national COVID-19 recovery plan, which will allocate a total of EUR 196 billion to six key areas. The plan includes the following investments: EUR 74.3 billion is earmarked for a green revolution and ecologic transition.EUR 48.7 billion will go toward digitalization and innovation.EUR 27.7 billion will be...Read more »
UN Secretary-General Calls for Green Recovery to Save the Planet
United Nations Secretary-General Antonio Guterres highlighted the urgency of a green recovery in a speech on December 2, 2020. In his address at Columbia University in New York, he painted a bleak picture of the state of the planet, pointing to the concerning results of the provisional State of the Global Climate report by the...Read more »
Finland Plans to Use EU Stimulus Funds for Green Recovery
The Government of Finland intends to invest European Union (EU) stimulus funds in reducing carbon emissions and fostering ecological sustainability. Finland will receive about EUR 2.3 billion from the EU’s Recovery and Resilience Facility during 2021–2023. These funds form part of the EUR 750 billion recovery fund that the EU is planning to provide to...Read more »
U.K. Presents Spending Review and Infrastructure Strategy
On November 25, the Government of the United Kingdom presented its spending review and the first National Infrastructure Strategy. Chancellor Rishi Sunak announced an investment of GBP 100 billion in infrastructure in 2021/2022. Despite recent political commitments, the National Infrastructure Strategy includes little new spending for green projects. For instance, GBP 27 billion is earmarked...Read more »
Green New Deal Fund: London invests GBP 10 million in sustainable recovery
The Mayor of London, Sadiq Khan, launched the first part of London’s Green New Deal fund. The investments of GBP 10 million aim to boost green jobs, tackle climate change, and address inequalities. This first phase of the package is expected to secure around 1,000 green jobs—for instance, related to solar panel installation and energy...Read more »
New Zealand launched NZD 70 Million Industry Decarbonization Fund
The Government of New Zealand has launched a NZD 70 million fund to accelerate the decarbonization of industrial process heat and foster a clean COVID-19 recovery. The fund will offer financial support to businesses and industries to switch from boilers run on coal and gas to cleaner electricity and biomass options. Announced on November 11,...Read more »
UK Government Outlines 10-Point Plan for a Green Industrial Revolution
On November 17, 2020, the United Kingdom government unveiled its 10-point green recovery plan. The GBP 12 billion stimulus package will benefit the green economy across the country, for instance going toward carbon capture, hydrogen, nuclear, electric vehicles, and renewable energy. Prime Minister Boris Johnson estimates that the green recovery plan will create 250,000 new...Read more »
Policy Briefing: Drafting Green Recovery Plans
In a policy briefing published on November 12, the think tank E3G discusses Europe’s economic recovery from the COVID-19 crisis and efforts to align the recovery with the European Green Deal. The paper called Drafting Recovery Plans for a Resilient and Green Economy emphasizes that national governments should carefully plan their recovery packages to make...Read more »
Victoria launches AUD800 million package for renewables and energy efficiency
On November 17, the government of Victoria unveiled a new AUD800 million energy saving package for homes in the Australian state. The package aims to incentivize more energy efficient appliances and heating systems, increase the energy efficiency standards of new and existing homes, and expand a solar and battery rebate scheme. The new scheme is...Read more »
Report: Decarbonizing homes in North England could boost jobs and economy
According to a new report by the Institute for Public Policy Research (IPPR), green upgrades to homes in the North of England could foster a sustainable recovery by creating hundreds of thousands of jobs and driving down emissions. The think tank analyzed the effects of retrofitting millions of homes with energy efficiency measures, such as...Read more »
Two Programs Support Green Recovery in Egypt
The European Bank for Reconstruction and Development (EBRD), the European Union (EU), and the Green Climate Fund (GCF) launched two programs to boost green finance and improve value chains, aiming to foster a green recovery of the Egyptian economy. Working with the EBRD’s local partner banks, the programs cumulatively worth EUR 220 million will offer...Read more »
Statement: Nine Countries Commit to Resilient Recovery
On November 10, 2020, members of the High Ambition Coalition underlined commitments for a green recovery, aiming for 60% of recovery spending to be climate-friendly; a phase-out of fossil fuel subsidies; and debt relief to give developing states the capacity for a green recovery. The coalition calls for an ambitious recovery from COVID-19 that sets...Read more »
Report Reveals G20 Support for Fossil Fuels and Lack of Green Recovery Commitments
A new report by the International Institute for Sustainable Development (IISD) tracks G20 countries’ progress in ending government support to fossil fuels and reveals large public money commitments for fossil fuel-intensive sectors in response to the COVID-19 crisis. The report Doubling Back and Doubling Down: G20 Scorecard on Fossil Fuel Funding was developed together with...Read more »
Clean Energy Transition: Iberdrola unveils EUR 75 billion investment plan
Iberdrola launched a new investment plan worth EUR 75 billion for the period 2020 to 2025. The Spanish multinational electric utility company aims to take advantage of the opportunities created by the clean energy transition and support global efforts for a green recovery from the COVID-19 pandemic. Major parts of the investments will go toward...Read more »
New Initiative Launched to Restore Nature Across England
On November 5, 2020, an England-wide nature restoration initiative was launched. It aims to tackle biodiversity loss and climate change, and to help people reconnect with the natural world. Led by Natural England, the Nature Recovery Network (NRN) Delivery Partnership brings together representatives from over 600 organizations, such as RSPB, Wildlife and Countryside Link, and...Read more »
UK Government Allots GBP 134 Million to Green Businesses
The Government of the United Kingdom announced GBP 134 million in cleantech funding on November 4, 2020. The investments are part of the country’s green recovery efforts and aim to help clean growth projects develop new technologies, create new jobs, drive productivity, and tackle climate change. The GBP 134 million comes from the United Kingdom’s Sustainable...Read more »
South Africa and WRI Collaborate for Green, Equitable Urban Recovery
On October 30, 2020, the South Africa National Department for Cooperative Governance, World Resources Institute (WRI) Ross Center for Sustainable Cities, and the Coalition for Urban Transitions announced a new partnership. It will support a green, resilient, and equitable COVID-19 recovery for cities in South Africa while focusing on implementing the country’s Integrated Urban Development...Read more »
WFP and Kenyan Government Launch Food Support Program for Families
On October 30, 2020, The United Nations World Food Programme (WFP) announced that it would collaborate with the Kenyan government to offer aid to over 24,000 families affected by the pandemic in Mombasa and Nairobi counties. This aid program receives contributions from US AID’s Bureau for Humanitarian Assistance. Before the lockdowns caused by COVID-19, Mombasa...Read more »
Scotland to Scale Up Offshore Wind Capacity
On October 28, 2020, the Scottish government released its Offshore Wind Policy Statement. The statement indicates that, in a green recovery effort, Scotland plans to scale up its wind energy generation capacity. The government intends to install hundreds of wind turbines off its coast, which will generate clean energy for more than 8 million homes....Read more »
Nordic Countries Back Institutional Investments in Green Recovery
On October 28, Nordic Prime Ministers announced their intention to encourage institutional investors to scale up green finance and investments. In a joint declaration, the Prime Ministers underlined that Nordic countries could and should take the lead on green recovery, pointed to the urgency of mobilizing private green investments, and stressed the interdependency of the...Read more »
South Korea Commits to Reaching Net-Zero by 2050
South Korean President Moon Jae-in has announced the country will commit to achieving carbon neutrality by 2050. During a speech to parliament on October 28, he reaffirmed plans for a Green New Deal and pledged to replace coal power generation with renewable energy. As part of the USD 37 billion Green New Deal, South Korea...Read more »
C40 Mayors Call for Green and Just Recovery
New research commissioned by the C40 Global Mayors COVID-19 Recovery Task Force illustrates the benefits of green and just recovery for employment, emissions, and health across the world’s 100 leading cities. The new technical report, published in October 2020, compares how urban greenhouse gas emissions, health, and jobs could develop under a green recovery compared...Read more »
EU allots P3.76 Billion for green recovery in the Philippines
As of October 26, 2020, the European Union (EU) has allotted PHP 3.76 billion in grant funding to the Philippines under the Access to Sustainable Energy Programme. This grant will support sustainable recovery efforts in the Philippines, particularly within the energy sector. During a webinar held on October 22, 2020, the head of the EU...Read more »
Spanish Recovery Plan Will Invest EUR 72 Billion in EU Funds
In early October, the Spanish President Pedro Sánchez presented plans to invest EUR 72 billion in European funds over the next three years, aiming to create 800,000 jobs. The Recovery, Transformation and Resilience Plan addresses four key areas for a COVID-19 recovery: ecological transition, digitalization, gender equality, and social cohesion. The Spanish government expects the...Read more »
Southeast Asia Urged to Transition to Low Carbon Energy Alternatives
A World Resources Institute article posted on October 19, 2020, urges that a transition to renewable energy sources to address Southeast Asia’s energy demand will be the most sustainable path to post-pandemic recovery in the region. Southeast Asia’s strong reliance on fossil fuels has exacerbated the economic impacts of the COVID-19 pandemic and has contributed...Read more »
New Zealand’s Prime Minister Expected to Address Climate Crisis During Recovery
The Reuters Foundation reported on October 21, 2020, that New Zealand’s recently re-elected Prime Minister, Jacinda Arden, is being urged to pursue green economic recovery plans. Arden’s successful response to the COVID-19 pandemic is being seen as an indication of good crisis management skills. As her demonstrated commitment to facing environmental concerns was the main...Read more »
Study: Green recovery plans outstrip return-to-normal stimulus
On October 19, the We Mean Business Coalition published a report illustrating that green recovery plans boost income, employment and GDP better than traditional stimulus measures. It therefore recommends governments to reject return-to-normal stimulus packages, e.g. with a focus on VAT reductions and increasing household spending, in favour of targeted support for green technologies and...Read more »
Study Shows Broad Consensus on Green Recovery
The German Environment Agency (Umweltbundesamt) published a paper analyzing 130 studies on green recovery programs. It finds a broad consensus on the need to use COVID-19 recovery packages to address the climate and biodiversity crises. The authors of the paper also discover a consensus on the huge benefits of green recovery programs, the eligibility criteria...Read more »
Renovation Wave: European Commission aims to boost energy efficiency
On October 14, the European Commission (EC) published its new Renovation Wave Strategy to improve the energy performance of buildings. It aims to double renovation rates in the next 10 years while ensuring that renovations lead to higher energy and resource efficiency. According to the EC, 35 million buildings could be renovated and up to...Read more »
Infrastructure Stimulus: BCG developes recommendations
Experts from Boston Consulting Group (BCG), in cooperation with the World Economic Forum, have published a framework for designing effective infrastructure stimulus plans. In an article published on September 25, 2020, they present lessons and recommendations to help governments develop infrastructure packages that support economic recovery and provide relief from the COVID-19 crisis while also...Read more »
IMF Recovery Index: Little support for green recovery measures
Researchers from the Global Development Policy Center at Boston University have developed a way to measure the International Monetary Fund’s (IMF) response to the COVID-19 pandemic. The IMF COVID-19 Recovery Index aims to quantify the extent to which the organization recommends (or conditions) borrowing countries to increase their efforts to combat the pandemic, protect vulnerable...Read more »
Green Recovery: Overview of implemented measures
The New Climate Institute has launched a new report about recently adopted climate policies and climate-relevant policy responses to COVID-19. The report is the latest in a series of publications analyzing global climate action. It includes three sections: An overview table of climate mitigation policies adopted or planned between July 2019 and August 2020, covering...Read more »
Canada Infrastructure Bank: CAD 10 billion for sustainable recovery spending
On October 1, 2020, Canadian Prime Minister Justin Trudeau announced a plan to position the Canada Infrastructure Bank (CIB) as an important vehicle for a sustainable recovery from the COVID-19 pandemic. The bank will allocate CAD 10 billion within three years to projects that create 60,000 jobs and contribute to a green, low-carbon economy. Priority...Read more »
New Climate Finance Instruments Launched to Accelerate Green Recovery
On September 28, the Global Innovation Lab for Climate Finance (the Lab) launched eight innovative finance solutions designed to channel private resources to climate action in developing economies. The instruments pay attention to supporting the most vulnerable populations during and after the pandemic while building long-term resilience. The finance instruments will support nature-based solutions as well...Read more »
How Governments Can Boost a Green Recovery
In an article published in September 2020, authors from the Boston Consulting Group (BCG) make the case for scaling up green recovery efforts worldwide. The article underlines that well-designed economic stimulus packages can create much-needed jobs and lower emissions while also transforming the countries for leadership in the green economy over the longer term. The...Read more »
British Inquiry: People want fair and green recovery
In September 2020, The Guardian reported that a majority of people across Britain supports an ambitious transformation of the United Kingdom into a greener, fairer, and more equal society. The assessment is based on an extensive inquiries by a cross-party group of MPs, which involved over 55,000 people through representative polls, workshops, and telephone conversations....Read more »
Clean Recovery: Australia to invest in future energy technology
The Australian Government announced an AUD 1.9 billion investment package supporting low-emission energy projects. To facilitate these investments, the mandates of the Australian Renewable Energy Agency (ARENA) and the Clean Energy Finance Corporation (CEFC) will be expanded. The package, which was revealed on September 17, 2020, aims to get the country’s emission-intensive manufacturing, transport, and...Read more »
Resilient Recovery: Canadian Task Force shared final report
The Task Force for a Resilient Recovery has released its final report, recommending CAD 55.4 billion in green recovery investments to support long-term jobs and economic growth in Canada. The Task Force encourages Canada’s leaders to learn from the missed opportunities after the 2008/09 financial crisis when countries invested in recovery measures that resulted in a historic...Read more »
Clean Recovery: Spain offers EUR 181 million for renewable energy projects
On September 10, 2020, the Spanish authorities announced EUR 181 million in spending on renewable energy projects. The investments are meant to boost a clean economic recovery by creating employment and cutting carbon emissions. The financial support will benefit seven regions across the country; while a majority is earmarked for Andalucía, funding is also provided...Read more »
GBP 40m for Nature-Focused Initiatives in the U.K.
The British government has launched its GBP 40 million Green Recovery Challenge Fund, supporting up to 5,000 jobs in areas such as tree planting and nature conservation. Environmental groups can now apply for grants worth GBP 50,000 to GBP 5 million. The fund is aimed at labour-intensive projects that deliver nature-based solutions to climate change...Read more »
Green Recovery: OECD publishes analysis
The Organisation for Economic Co-operation and Development (OECD) published a new policy brief about opportunities for a green, inclusive COVID-19 recovery. The document, called Making the Green Recovery Work for Jobs, Income and Growth, includes a review of announced recovery and stimulus policies in OECD and Key Partner countries. On the one hand, OECD governments...Read more »
How to Make a Green Recovery Inclusive for all Canadians
The Smart Prosperity Institute has published an article outlining opportunities for a green and inclusive COVID-19 recovery in Canada. The authors underline that some groups within society, especially women, younger workers, persons of colour, and persons with disabilities, have been hit disproportionately hard by the recession. The article, therefore, calls on the government to carefully...Read more »
EUR4.5 milllion for energy efficiency in Portugal
On September 2, 2020, the Portuguese government launched a new energy-efficiency program. The Programa de Apoio Edifícios mais Sustentáveis includes various incentives to promote the energy efficiency of buildings and their decarbonization and has a total volume of EUR 4.5 million (EUR 1.75 million in 2020 and EUR 2.75 million in 2021). Several types of...Read more »
Canada and British Columbia invest in clean energy
The governments of Canada and British Columbia unveiled details about their investments in green energy solutions across British Columbia. According to a press release from September 1, 2020, eleven projects will be funded to save energy and reduce pollution. The projects are jointly financed by the Government of Canada, local and Indigenous communities, and the...Read more »
Green Recovery: ADB outlines pathway to a low-carbon and resilient future
In August 2020, the Asian Development Bank (ADB) published a brochure informing countries about sustainable recovery opportunities. Apart from presenting the central reasons for a green recovery, the document, called A Pathway to a Low-Carbon and Resilient Future, also entails three items that could help decision-makers design such programs: It lists possible low-carbon and resilience-enhancing...Read more »
French Stimulus Package: About EUR 30 billion for green recovery measures
On September 3, 2020, the French government unveiled details about the country’s new EUR 100 billion economic stimulus package. It is meant to increase the competitiveness of the French economy, boost jobs, and green the economy. One third of the stimulus package, which amounts to 4% of the GDP, is allocated to green measures. According...Read more »
ADB Adjusts Bangladesh’s Financing Plan to Support Recovery
The Asian Development Bank (ADB) has restructured its financing plan for Bangladesh to help the country recover from the COVID-19 pandemic. The Country Operations Business Plan (COBP) for 2021 to 2023, which was published in August, includes USD 5.28 billion in loans. A major part of the funds (USD 2.39 billion) will be disbursed in...Read more »
Scottish National Investment Bank to Support a Just Transition to Net-Zero Emissions
On August 28, 2020, the Scottish Government proposed the key missions for the new Scottish National Investment Bank. The Bank is supposed to support Scotland’s economic recovery by creating inclusive, long-term economic growth based on three missions: Fostering a just transition to net-zero emissions by 2045 (primary mission).Creation of opportunities and reduction of inequalities.Usage of...Read more »
Clean recovery: Australian Industry Group calls for AUD 3.3 Billion in Public Spending
The Australian Industry Group urges the government to significantly step up its investments in renewable energy and energy efficiency for a clean recovery. In its pre-budget submission, the Australian peak employer body suggests public spending of AUD 3.3 billion over 10 years on renewable energy and AUD 500 million over two years to enhance energy...Read more »
Seven Policies to Unleash the Potential of U.S. Offshore Wind for a Green Recovery
On August 31, 2020, Forbes published an article outlining several policy recommendations to support the U.S. offshore wind sector. It is based on a recent policy brief by climate policy think tank Energy Innovation. In the Forbes article, author Amanda Myers first presents the main benefits and opportunities of offshore wind in the U.S., highlighting...Read more »
Sustainable Recovery in Colombia: President underlines ambitions
Colombia’s president Ivan Duque sees his country on track to economic recovery. Participating in a virtual conference on August 20, 2020, he discussed the key role of the government’s stimulus and recovery plan, called Compromiso por el Futuro de Colombia. It includes investments over COP 100 billion (about EUR 22 million) and the creation of 1...Read more »
Singapore’s push for sustainable growth and social safety
Singapore President Halimah Yacob revealed plans for the country’s green recovery during the opening of the nation’s 14th Parliament on August 24, 2020. She announced major efforts to foster sustainable growth while improving social safety nets and education. The government plans to “push for green financing and sustainable infrastructure development across the region, to ride...Read more »
Clean Recovery: U.S. Democrats unveil USD 400 billion plan
On August 25, 2020, U.S. Senate Democrats published a comprehensive plan calling for the government to step up climate action and stimulate the creation of green jobs. The new report demands public spending of more than USD 400 billion a year to achieve net-zero emissions by 2050. The spending would equal about 2% of the...Read more »
ADB Fosters Green Recovery in Indonesia
According to an article published by Jakarta Post on August 21, 2020, the Asian Development Bank (ADB) has pledged to double its loan commitments to Indonesia in order to support the country’s economic recovery. In previous years, Indonesia received between USD 1 billion and USD 2 billion annually, mainly for energy-related infrastructure projects. ADB Country...Read more »
GBP 20 million for low-carbon heating in Scottish social housing
On August 21, 2020, the Scottish government announced the fast-tracking of a GBP 20 million low-carbon heat fund for social housing. Scotland’s energy minister, Paul Wheelhouse, said: “This £20 million Social Housing Net Zero Heat fund will deliver rapid investment to support both our energy and construction sectors whilst reducing bills for those who in...Read more »
Brazil: Low-carbon recovery could save rainforest and boost economy
On August 13, 2020, Climate Home News reported on an international study about green recovery opportunities in Brazil. The study by the New Climate Economy and World Resources Institute, in partnership with former finance ministers and World Bank executives, finds that the government could rebuild the economy faster after the pandemic by making low-carbon growth...Read more »
Canada’s Resilient Recovery: Redirection of CAD 3.3 billion for infrastructure projects
In August, the Canadian government announced improved funding opportunities for infrastructure projects in the country. Provinces and territories can redirect up to 10% of the funds they originally received under the Investing in Canada Infrastructure Program to the new COVID-19 Resilience funding stream. The maximum total volume to be reallocated amounts to CAD 3.3 billion....Read more »
Stimulus Spending in Canada: Priority on fossil fuels
On August 12, 2020, the National Observer published an article analyzing Canada’s stimulus spending for the energy sector. Based on data compiled by the Energy Policy Tracker, which is co-hosted by IISD, the authors highlight the huge sums supporting the production and consumption of fossil fuels. Canada, in particular, has committed a total of USD...Read more »
Additional Funds for COVID-19 Response and Infrastructure in Niger
On August 6, 2020, the World Bank approved USD 250 million in International Development Association (IDA) credit and grants for Niger. The funds are supposed to help the West African country to develop its human capital and to address challenges caused by the COVID-19 pandemic. The new funding is part of a program series targeted...Read more »
Stimulus for Renewable Energy Technologies in Senegal
The Senegalese government issued a decree at the beginning of August that exempts 22 different renewable energy equipment types from the value-added tax (VAT). Renewable energy production technologies targeted by this exemption are wind farms, biogas production facilities, solar photovoltaic, and a range of other solar-powered technologies, such as solar water heaters, solar lamp kits,...Read more »
Second Recovery Package for Public Transport Operators in England
The Department for Transport in England announced a second recovery package for bus and light rail operators on August 8, 2020. The GBP 256 million package supports public transport operators as they continue to cope with reduced passenger numbers and hence lower revenues compared to pre COVID-19 levels while being asked to increase service frequency...Read more »
EIB and Afreximbank fund Green Recovery Projects in African Nations
On August 5, 2020, the European Investment Bank (EIB) announced it was directing EUR 300 million toward the COVID-19 response and recovery in African nations. The funding is part of the EIB Team Europe Initiative, designed to help the most vulnerable and exposed countries respond to the immediate health crisis, mitigate social and economic impacts,...Read more »
Green Stimulus for India’s Clean Energy Transition
The Rocky Mountain Institute, RMI India and NITI Aayog have just released a report on how a green recovery of India’s energy sector could be realized. The report identifies opportunities for the country to boost the energy transition, building a clean, resilient, and low-cost energy future for India. It also discusses how the COVID-19 pandemic...Read more »
Green Homes Grant: £2 billion for energy efficiency in UK
In August, the UK Government released more details about the new £2 billion Green Homes Grant which will be launched at the end of September. Through the fund, about 600,000 homeowners in England can receive up to £10,000 to install insulation, heat pumps and draft proofing in their homes. By covering up to two-thirds of...Read more »
EIB finances Sustainable Recovery Projects in Barcelona
On August 3, 2020, the European Investment Bank (EIB) announced the financing of nearly 40 projects in Barcelona that serve multiple objectives for the city. On the one hand, the projects contribute to the climate change mitigation and adaptation efforts of the city; on the other hand, they create jobs and enhance social inclusion. Therefore,...Read more »
Transition to Zero Emission Economies: Job booster for Latin America & the Caribbean
On July 29, 2020, the Inter-American Development Bank (IADB) and the International Labour Organization (ILO) published the results of a study that highlights the enormous job creation potential associated with a transition to a net-zero carbon economy in Latin America and the Caribbean. Even though such a transition would terminate around 7.5 million jobs in...Read more »
London Launches GBP 1.5 bn Infrastructure Investment Package with Green Stimulus Elements
London Mayor Sadiq Khan and the London Recovery Board announced a GBP 1.5 billion Infrastructure Investment Package on July 29, 2020, that aims to recover the local economy, creating jobs and reducing London’s carbon and water footprints. The specific projects and corresponding budget allocations are yet to be defined. Projects will be implemented together with...Read more »
EIB Finances Sustainable Recovery of the Province of Trento, Italy
The Autonomous Province of Trento has signed an agreement for EUR 300 million in financing from the European Investment Bank to distribute loans to municipalities and public entities in need of funding for a sustainable recovery from the pandemic. The agreement was signed on July 21, 2020, and an initial tranche of EUR 160 million...Read more »
U.K. Government Announces GBP 350 Million Budget for Green Recovery Spending
On July 22, 2020, the British government announced a GBP 350 million budget to fund the decarbonization of heavy industry and the construction, transportation, and aviation sectors. This green recovery spending is earmarked to support the U.K.’s target to reach the net-zero target by 2050 and advance green innovation. The press release provides details about...Read more »
Financing a Sustainable Recovery: U.K.’s first local government green bond
On July 17, 2020, West Berkshire Council issued the U.K.’s first local government green bond using the crowd investment platform Abundance. This innovative financing solution is called Community Municipal Investment and targets local citizens to become investors for green projects in their own municipalities. Within a week, GBP 300,000 of the GBP 1 million target...Read more »
Tracker on COVID-19-Related Energy Policies Launched
A consortium of 14 expert organizations, including the International Institute for Sustainable Development (IISD), launched an Energy Policy Tracker on July 15, 2020. The collaborative initiative tracks real-time data on approved public finance and policy measures targeting energy generation and consumption to stimulate economies in response to the COVID-19 pandemic. The presented data shows, at...Read more »
EIB approves financing for various sustainable recovery projects
On 15. July 2020 the European Investment Bank (EIB) approved EUR 16.6 billion of new financing, of which EUR 10.2 billion will be invested for COVID-19 related recovery projects. Investments are earmarked for improving public health services and adapting other public services institutions across several European countries to respond better to the pandemic. Credit lines...Read more »
South Korean Government Launches Plan for a Green New Deal
The South Korean Government announced a Green New Deal on July 14, 2020, worth approximately KRW 114 trillion (USD 94.5 billion), which is meant to be invested over the course of the next years to help the country’s economy to recover from the COVID-19-related recession. The foreseen government spending is targeted at creating 1.9 million...Read more »
European Investment Bank Finances Large-Scale Solar PV Project in Spain
On June 26, 2020, the European Investment Bank (EIB), the long-term lending institution of the European Union owned by its member states, announced to invest EUR 43.5 million to finance four 50-megawatt peak (MWp) solar photovoltaic (PV) plants in Andalusia, Spain. These plants are also called the Cabrera Solar Project. Emma Navarro, EIB Vice President responsible...Read more »
COVID-19 Recovery Impacts: Nationalisation of Britain’s Railway System Progresses
After rail companies have already received bailouts worth £ 3.5 billion over the past few months of the COVID-19 recovery phase, signals increase that the railway system in Britain will be nationalised as reported on 09th July, 2020. The Office for National Statistics published a review that suggests counting the debt of railway operators on...Read more »
OLADE and IRENA collaboration: Promotion of Renewables for a Sustainable Recovery in Latin America and the Caribbean
On 08. July 2020 the Latin American Energy Organisation (OLADE) and the International Renewable Energy Agency (IRENA) announced to foster their partnership to promote investments and financing of renewable energy transitions in OLADE member countries and hence support a sustainable recovery from the COVID-19 crisis. The partners emphasize that the envisioned renewable energy transitions in...Read more »
Ghana Eyes Improved Climate Resilience
On July 2020, the UN Environment Programme (UNEP) reported that Ghana is undertaking a National Adaptation Planning (NAP) process, in which it seeks to improve its resilience to climate change and its impacts over the next 60 years. Its NAP process has been supported by the NAP Global Network since 2018. By developing anticipated climate...Read more »
Financing the Sustainable Recovery: Social Bond Issuances Surge
The Green Bond Bulletin of NN Investment Partners provides excellent insight into the Green and Social Bond markets. In their article from June 30, 2020, NN Investment Partners report on recent developments in the Social Bond and sovereign Green Bond markets in light of the COVID-19 pandemic. They highlight the surge of Social Bond issuances...Read more »
EU and EBRD: Finance for Green Recovery in Egypt, Morocco and Eastern Partnership Countries
On June 30th 2020, the European Union (EU) and the European Bank for Reconstruction and Development (EBRD) announced a total grant package of EUR 61.3 million to be provided for green and climate resilient investments in Egypt, Morocco and the countries of the Eastern Partnership. By allocating grants to energy efficiency, renewable energy and climate...Read more »
New Zealand’s Infrastructure Fund for Economic Recovery
The Government of New Zealand earmarked a NZ$ 3 billion portion from the country´s COVID Response and Recovery Fund to invest in infrastructure plans. The Cabinet announced on June 30th 2020, how the Infrastructure Fund will be allocated across regions and sectors with the target to create more than 20,000 jobs and unlock additional investments....Read more »
New legislation in the UK empowers Micro-Mobility Services
On 30th June 2020, the UK parliament passed new road transport legislation that will allow rentable e-scooters on streets from July 4th onwards. The use of privately owned e-scooters remains however illegal on public roads. The new rules will allow local authorities and administrations in the UK to deploy and promote e-scooter sharing schemes. A...Read more »
Climate Conditions for Austrian Airlines Bailout
Austrian Airlines received a substantial bailout package of EUR 600 million, comprised of EUR 150 million state aid, EUR 300 bank loans to be repaid by 2026 and EUR 150 million equity capital provided by Lufthansa. This bailout package is tied to several carbon performance targets, which the airline agreed to on June 8th, 2020....Read more »
Green Stimulus Elements for Spain’s Transport Sector
On June 15, 2020, the Spanish Government announced a EUR 3.75 billion recovery package for the domestic automotive industry, of which 70% will be used to bailout companies in the automotive value chain. The remaining 30% includes measures for accelerating a sustainable transport sector in Spain, including the electrification of public transport, adjustment of rail...Read more »
Controversies Around Debt Relief Calls for Projects in China’s Belt & Road Initiative
Several of the 126 countries participating in the Belt and Road Initiative (BRI) are calling for debt relief, including for infrastructure projects that have been hit by negative economic effects of the COVID-19 pandemic. A range of BRI projects, such as coal-fired power plants, hydropower plants, and oil palm plantations, has been criticized for their...Read more »
Germany’s Green Stimulus for a Sustainable Transport Sector
The German Government announced a new EUR 130 billion economic stimulus package on June 03, 2020. It includes several strong measures for stimulating a green recovery and fostering a low-carbon economy in Germany. While some critics emphasize that the new package still misses consistent incorporation of ambitious climate targets that would ensure a full alignment...Read more »
Green Stimulus for Finland’s Transport Sector
The Finnish Government announced a EUR 5.5 billion supplementary budget on June 02, 2020 to support the economic recovery in light of the COVID-19 pandemic. About a fourth of the recovery package is dedicated for developing the country’s railway and tramway infrastructure as well as to support public transport operators. Moreover, plans have been announced...Read more »
Green New Deal for Economic Recovery in South Korea
South Korea’s ambition to implement a Green New Deal was already affirmed after the National Assembly elections mid-April. This Green Deal will be realized as a core strategy during the COVID-19 recovery as reported on May 29, 2020. It entails, among others, public investments into expanding renewable energy generation and greening the transport sector in...Read more »