COVID bonds will play an important role in financing COVID-19 stimulus measures. All issues to date have been either general purpose bonds or use of proceeds bonds. However, a third type, performance-based bonds, has a lot of potential to address the needs of issuers. In case of COVID related sustainability linked bonds, the coupon would be linked to health KPIs. The good news is that the International Capital Market Association (ICMA) has just launched its Sustainability-linked Bond Principles to finally provide some guidelines for this increasingly popular financing instrument. For more details on the launch, please check out this Environmental Finance article.
Sustainability-linked Bond Principles to support a new type of COVID bonds
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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 Climate-Smart Crop Management Is a Pragmatic Recovery Plan for Rural Communities in Ghana
Simulations
This What-If simulation estimates the impact of investing in climate-smart crop management interventions in a rural community in Ghana. Costs and benefits, including externalities, 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 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 Water-Efficient Irrigation Is a Pragmatic Recovery Plan for Rural Communities in Ghana
Simulations
This What-If simulation estimates the costs and societal benefits from investing in drip irrigation infrastructure for a rural community in Ghana. The simulation results serve to inform the Green Climate Fund and other public donors and investors whether such irrigation infrastructure should be targeted by sustainable recovery financing.
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 »
Debt-for-Climate Swaps Can Help Developing Countries Make a Green Recovery
Commentary
In Argentina, green debt relief has supported forest conservation, an approach that can and should be scaled up as coronavirus stretches budgets. At last month’s meetings of the International Monetary Fund (IMF), three topics dominated the conversation: the coronavirus pandemic, greening the recovery, and climate change. For many developing countries, especially the poorest, the overwhelming...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 »
How has Simulation Changed What Can It Offer in the Context of Green Recovery?
Commentary
There is uncertainty in the world, more now than ever. The VUCA concept, which was used to characterize the Volatility, Uncertainty, Complexity, and Ambiguity felt in the United States following the Cold War, is now applicable on a global scale today. In fact, the COVID-19 pandemic is one clear example of the VUCA concept’s manifestation...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.
Informing a Sustainable Recovery: The Role of Sustainability Impact Measurement (Recording available)
Webinars
In this final session Oshani Perera, the former Director of IISD`s Infrastructure Program, spoke to a very distinguished guest: Dr. Joseph Mariathasan. Their conversation focused on quantitative impact measurement and ESG reporting of companies.
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 »
An Economic Recovery Should Invest in Canadian Wealth and Well-Being
Commentary
Investments into Canada’s social, human, and natural capital are needed to ensure growth is sustained, equitable and opportunity-generating. Canada’s economy has been repeatedly hit by the COVID-19 pandemic and its economic fall-out. The combination of economic shutdowns, social distancing requirements, low oil prices and historic declines in export volumes have extended the downturn. As both...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 »
Is the EU Council agreement aligned with the Green Deal ambitions?
Commentary
On 21 July, EU leaders agreed on a €1.8 trillion package that should boost the recovery after the COVID-19 crisis, but also contribute to the advancement of key EU societal objectives, starting with the climate transition. In this blog post we assess the green ambitions of the package and evaluate its consistency with the European...Read more »
Why Low-Carbon Renovation Is a Pragmatic Recovery Plan: The case of Canada
Simulations
This SAVi what-if simulation forecasts the economic and environmental benefits of investing in energy efficiency and flood resilience within Canada's building sector. The forecasts point to substantial net benefits, demonstrating this to be a sustainable recovery strategy.
Sustainability-linked Bonds: A new way to finance COVID-19 stimulus
Commentary
Sustainability-linked bonds can play an important role in allocating capital toward COVID-19-related relief or recovery measures. With infection rates still stubbornly high in many countries, it has become clear that mitigating the economic impact of COVID-19 will require ambitious stimulus measures and spending. This is where COVID-19 bonds have a vital role to play, given their ability...Read more »
The EU’s Financing of a Resilient Recovery
Commentary
In the early morning of July 21, 2020, the European Council (EC) agreed on the new long-term European Union (EU) budget and recovery fund. After a 4-day marathon meeting, the leaders of EU member states found a political compromise on the Multiannual Financial Framework (MFF) budget of EUR 1,074 billion and a specific Next Generation...Read more »
The value of inclusive infrastructure in a post-coronavirus world
Commentary
The global health crisis has left us no choice but to demand a transformative future where more adaptable, flexible, multi-purpose and inclusive infrastructure can help society stay resilient in the face of looming threats. As we emerge from this coronavirus pandemic, what future should we anticipate? Listening to some politicians and pundits, we are led...Read more »
Sustainable Infrastructure. Why is it not happening? (webinar recording available)
Webinars
30. July 2020. 2 p.m. Central European Summer Time/ 8 a.m. Eastern Standard Time What is impeding the deployment of sustainable infrastructure? Despite all the rhetoric on sustainability and sustainable recovery from politicians, commentators, investors, project developers and citizens, sustainable infrastructure has yet to happen. Howard Mann, Senior Law Adviser with IISD, shared observations on...Read more »
Corporate Purpose: Shareholders or society?
Commentary
Joseph Mariathasan Corporate Purpose: Shareholders or society? This timely and thoughtful commentary in Investment and Pensions Europe makes a very strong case for the valuation of externalities. Mariathasan argues that unless externalities are valued in dollar terms, investors will continue to finance assets and services that bring no social or environmental value. Public goods are...Read more »
Courage under Fire: Policy Responses in Emerging Market and Developing Economies to the COVID-19 Pandemic
Commentary
The coronavirus crisis is a crisis like no other, and for emerging market and developing economies (EMDE), it has triggered a policy response like no other, both in scope and magnitude. Despite their diversity, and in some cases, strained resources, this large group of countries—consisting of emerging markets and low-income countries—have bolstered the provision of...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 »
Financing COVID-19 Stimulus: Will high levels of public debt come back to haunt us?
Commentary
As the Task Force for a Resilient Recovery begins work on low-carbon, resilient pathways for post-COVID-19 recovery, it’s worth taking a step back to examine how stimulus spending is actually financed and what patterns are emerging from the design and implementation of such packages in Europe, Japan, South Korea, and Australia. The majority of COVID-related stimulus financing...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 »
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 »
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 »
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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 »
Green Climate Fund Invests in Building Climate Resilience in Mongolia
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Statement: Nine Countries Commit to Resilient Recovery
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Report Reveals G20 Support for Fossil Fuels and Lack of Green Recovery Commitments
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UK Plans to Issue First Green Bond and Require Climate Risk Disclosure
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Clean Energy Transition: Iberdrola unveils EUR 75 billion investment plan
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Eastern Caribbean States Embrace Sustainable Public Procurement for Green Recovery
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New Initiative Launched to Restore Nature Across England
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UK Government Allots GBP 134 Million to Green Businesses
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South Africa and WRI Collaborate for Green, Equitable Urban Recovery
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WFP and Kenyan Government Launch Food Support Program for Families
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Scotland to Scale Up Offshore Wind Capacity
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Nordic Countries Back Institutional Investments in Green Recovery
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South Korea Commits to Reaching Net-Zero by 2050
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C40 Mayors Call for Green and Just Recovery
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EU allots P3.76 Billion for green recovery in the Philippines
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OECD Calls for ‘Science-Based’ Planning for Sustainable Recovery
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UN ECLAC Push for Sustainability and Equality to be at the Forefront of COVID-19 Recovery
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Spanish Recovery Plan Will Invest EUR 72 Billion in EU Funds
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UNDP and UNEP Collaboration to Support Sustainable Recovery in Iraq
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Southeast Asia Urged to Transition to Low Carbon Energy Alternatives
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New Zealand’s Prime Minister Expected to Address Climate Crisis During Recovery
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Study: Green recovery plans outstrip return-to-normal stimulus
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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
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Infrastructure Stimulus: BCG developes recommendations
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Mobilizing Private Finance for Nature
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IMF Recovery Index: Little support for green recovery measures
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Green Recovery: Overview of implemented measures
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Canada Infrastructure Bank: CAD 10 billion for sustainable recovery spending
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Nature Conservation: McKinsey report quantifies global benefits
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New Climate Finance Instruments Launched to Accelerate Green Recovery
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World Leaders Pledge to Put Biodiversity and Climate at the Heart of Recovery
Political leaders from around the world have launched the Leaders’ Pledge for Nature, committing to reversing biodiversity loss by 2030. Supported by more than 70 countries and several non-state actors, the pledge is meant to send a united signal to step up global ambition for biodiversity, nature, climate, and people. The Leaders’ Pledge for Nature...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 »
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 »
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 »
USD3.6 million for Nature-Based Solutions in Ethiopia
The UN Economic Commission for Africa and the Government of Ethiopia signed a Memorandum of Understanding on August 13, 2020, kicking off a USD 3.6 million project on nature-based solutions for water resources infrastructure and community resilience in Ethiopia. The project is part of the Ethiopian Government’s Green Legacy initiative and serves as the official...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 »
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 »
USD 2 Billion Loan for Climate Adaptation in Bangladesh
Bloomberg Green reported on August 24, 2020, that Bangladesh is expecting the World Bank to approve USD 2 billion in loans to support its ambitious climate adaptation plan, with the first installment planned for the beginning of next year. The funds would be used to implement the Delta Plan 100, which aims to minimize damages...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 »
Germany Announces Green Federal Securities for 2020
On August 24, 2020, the German Government announced the launch of its first Green German Federal Securities in the second half of 2020. Up to EUR 11 billion is expected to be issued through these financing instruments in the coming months. Dr. Jörg Kukies, State Secretary at the Federal Ministry of Finance, explained: “From now...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 »
Nairobi Expands Green Infrastructure to Tackle Economic Downturn and Climate Threats
On August 14, 2020, Reuters reported on Nairobi’s increased efforts to expand green infrastructure. The article highlights how such investments address challenges posed by the pandemic and the climate crisis. The Kenyan capital is improving the protection and quality of green spaces, especially along the Nairobi River, while supporting people in need. In March, the...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 »
Lacking Green Stimulus in the Asia-Pacific Region
ING published a report on August 11, 2020, about national recovery and stimulus spending in the Asia-Pacific region. The analysis highlights that most countries in the region, with the exception of New Zealand and Singapore, have hardly included any green stimulus measures in their economic recovery packages. Notably, the report presents data that demonstrate that...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 »
Additional Finance for Green Stimulus in Egypt
The Green for Growth Fund, an impact investment fund targeted at mitigating climate change and promoting sustainable economic growth in various countries, has announced on 05. August to provide a top-up loan to Banque du Caire in Egypt. The additional USD 15 million will support financing energy efficiency and resource efficiency measures of small and...Read more »
Green Recovery Measures for Western Australia
The state government of Western Australia released a comprehensive recovery plan at the end of July 2020. The plan puts forward 21 priorities and includes investments of AUD 5.5 billion aimed at creating local jobs in various sectors such as construction, renewable energy, education, and agriculture. Some of the investment priorities will fund sustainable recovery...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 »
The Need for a Sustainable Blue Economic Recovery
In this article, Mukhisa Kituyi, Secretary-General of the United Nations Conference on Trade and Development (UNCTAD), and Dona Bertarelli, UNCTAD’s new Special Adviser for the Blue Economy, call for a sustainable blue economic recovery and describe what that could look like. The health of the oceans is in steep decline. A natural resource so crucial...Read more »
ADB and GCF Announce Collaboration for Green Recovery in Asia
On July 22, the Asian Development Bank (ADB) announced a partnership with the Green Climate Fund (GCF) to assist members hard hit by COVID-19. ADB President Masatsugu Asakawa and GCF Executive Director Yannick Glemarec met to identify opportunities to help ADB members confronting the pandemic crisis achieve low-carbon and climate-resilient recoveries. They agreed to build...Read more »
New EU Budget and Recovery Fund: Green stimulus and climate budget cuts
On July 21, the heads of state or government of the 27 European Union (EU) member states, together with the European Council President and the President of the European Commission, reached an agreement on a EUR 1.074 billion long-term budget and a EUR 750 billion COVID-19 recovery fund after a marathon summit. This was the...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 »
‘Principles for Recovery’ Urge Investing in Sustainable and Resilient Infrastructure
The UN Environment Programme (UNEP), alongside several partners in the Sustainable Infrastructure Partnership (SIP), developed a set of ten principles for post-COVID-19 recovery focusing on investing in sustainable and resilient infrastructure. The ‘Principles for Recovery’ provide a framework for decision making on infrastructure spending for post-COVID-19 recovery and stimulus packages. The Principles call for decisions...Read more »
C40 Mayors Advocate for a Green and Just Recovery in Cities
On July 15, the C40 Global Mayors COVID-19 Recovery Task Force published a new report, C40 Mayors Agenda for a Green and Just Recovery. C40 is a network of 96 cities across the globe committed to addressing climate change, and the Task Force was launched in April 2020 to rebuild post-pandemic cities and economies by...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 »
Addressing the Nature Crisis in a Sustainable Recovery
On July 15, the World Economic Forum released a new report on the need to address the future of nature, in addition to climate change, in a post-COVID-19 recovery. The report highlights that a business-as-usual approach has no future. In addition to fighting climate change, three systems need to undergo a fundamental transformation to address...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 »
Green Recovery Stimulus for UK’s Housing Sector
The UK Treasury has now published the foundations of Chancellor Rishi Sunak’s Summer Economic Update for a green recovery. Of the GBP 3 billion “green” package that was announced on July 6, 2020, GBP 1 billion will be made to retrofit public sector buildings such as schools and social housing, making them less carbon intensive....Read more »
Bank of Ireland’s Measures for a Green Recovery
While the European Commission’s latest forecast expects Ireland’s economy to shrink by 8.5% this year, the Irish economy is reopening faster than planned. On July 2, 2020 the Bank of Ireland outlined its plan to support the country’s economic recovery after COVID-19, which focuses on homebuilding, green investment, and local businesses. The Bank aims to...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 »
Leading Environmental Organizations endorse Green Recovery Guidelines for Canada
The report Green Strings: Principles and conditions for a green recovery from COVID-19 in Canada was released on July 07, 2020 and provides policy-makers concrete steps for meeting Canada’s 2050 climate commitments while spurring economic resiliency and creating good jobs. The authors of the report advocate for attaching the following seven “green strings” to COVID-19 recovery...Read more »
Green policy will guide ECB bond purchases
The FT reports on 8 July 2020 that Christine Lagarde, President of the ECB, signaled in a recent interview that the ECB’s EUR 2.8 trillion asset purchase scheme could be deployed following green policy objectives: “I want to explore every avenue available in order to combat climate change”. This would make the ECB the first...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 »
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 »
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 »
Agreement on the EU’s coronavirus recovery fund is drawing closer
The FT reports on 29 June 2020 that Angela Merkel expressed her optimism on reaching an agreement on the EU’s EUR 750 billion post-coronavirus recovery fund. They have been disagreements over the size of the fund, the proportion of loans vs grants provided by the fund, when repayments should start for the loan portion and...Read more »
Scottish Government promotes a Sustainable Recovery
In a paper published on June 29th, 2020 the Scottish Government proposed and outlined ten guiding principles to the UK Government on how to steer an economic recovery from the COVID-19 pandemic in the region. The principles lay a strong emphasis on a sustainable economic recovery. The proposed stimulus and policy measures aim at reducing...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 »
New COVID-19 recovery impact fund in South Africa
Environmental Finance reports on 08 June 2020 that Ninety One, an asset manager, recently launched a COVID-19 recovery impact fund in South Africa. This is another example where private sources of financing are used for recovery measures. The fund will have a portfolio of senior debt, subordinated debt, preferred equity, listed equity and private equity....Read more »
ECB plans on setting up a “bad bank”
Reuters reports on 10 June 2020 that the European Central Bank is looking into setting up a “bad bank” for the billions of unpaid loans caused by the COVID-19 pandemic. One structure under consideration would involve the European Stability Mechanism providing guarantees to the bad bank, which would issue bonds to commercial banks in exchange...Read more »
Will the US have a V-shaped recovery?
Will we have a much quicker recovery than economists expect? The FT reports on 05 June 2020 that the US added 2.5 million jobs in May when analysts expected a decline of 7.5 million. This could signal that the US economy might have a V-shaped recovery instead of the dreaded U-shaped one, which would imply...Read more »
Germany’s ambitious stimulus measures
Germany has recently announced ambitious stimulus measures to support its economy. The FT reports on 4 June 2020 that the announced measures include EUR 353 billion emergency aid, EUR 820 billion loan guarantees and EUR 130 billion worth of tax cuts. They are expected to be funded through increased government bond issues. After years of...Read more »
The ECB is extending its Pandemic Emergency Purchase Programme
As a response to the economic difficulties caused by the COVID-19 pandemic, the European Central Bank (ECB) decided to increase its Pandemic Emergency Purchase Programme (PEPP) by EUR 600 billion to EUR 1.35 trillion, reports the FT on 4 June 2020. The ECB also extended the life of PEPP from the end of 2020 to...Read more »
Will stimulus funds crowd out private investors?
Zak Bentley from Infrastructure Investor emphasizes the importance of the EU’s Green Deal to be a facilitator of private investment into infrastructure. Investors are worried how the European Investment Bank will deploy this significant amount of stimulus funds, both on the debt and equity side, without effectively crowding them out.
FED is also buying corporate bonds now
The FT reports on 16 June 2020 that the Federal Reserve (Fed) in the US announced that it would also be buying corporate bonds to support post-COVID economic recovery. This is in addition to its existing securities purchases, including US treasuries and ETFs. With these new measures, the Fed’s aim is to reassure investors and...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 »
Nature-Based Solutions Essential for Sustainable Recovery
The risks of COVID-19 and other infectious diseases are increasing because of a loss of ecosystems and deforestation. This is why including nature-based solutions and green infrastructure in a sustainable recovery is essential, as reported by Business India on June 4, 2020.
Least-Developed Countries’ Means to Financing a Sustainable Recovery Are Heavily Affected
On June 8, 2020, the World Trade Organization Secretariat published a report on trade-related developments in relation to the COVID-19 pandemic in least-developed countries (LDCs). The economies of LDCs have been hit extra hard during this pandemic, as many rely on export-sensitive sectors that came to a near standstill (tourism, textiles, etc.), as well as...Read more »
USD 188 Million to Support Environmental Sustainability in Pakistan’s Green Economic Stimulus
On June 2, 2020, Pakistan Today reported on the World Bank’s USD 188 million in funding for the Government of Pakistan for disaster risk reduction and the restoration of the natural environment. This will strengthen Pakistan’s green economic stimulus recovery package.
What Cardamom Small Producers Can Teach us About Green Recovery
The Inter-American Development Bank supports Guatemala under its REDD+ framework to scale its good practices on sustainable forest management and agriculture. The management of the cardamom value chain in Guatemala is an example of how to make agriculture more resilient in a post-COVID-19 recovery. It is also exemplary in its positive social impact, especially by...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 »
The EU Green Deal at the Heart of Europe’s Recovery Post-COVID-19
On May 27, 2020, the European Commission (EC) announced its long-term recovery strategy, which will guide and support EU member states as they recover from the impacts of the pandemic. The EC proposes a new recovery instrument, Next Generation EU, of EUR 750 billion, which will be added to the multiannual (2021–2027) EU budget. The...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 »
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 »
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 »