Monitoring the Climate Impact of Fiscal Policy - Lessons from Tracking the COVID-19 Response / Khaled Eltokhy, Katja Funke, Guohua Huang, Yujin Kim, Genet Zinabou.

Format:

Book

Government document

Author/Creator:

Eltokhy, Khaled.

Contributor:

Funke, Katja.

Huang, Guohua.

Kim, Yujin.

Zinabou, Genet.

Series:

IMF Working Papers; Working Paper ; No. 2021/259

IMF Working Papers

Language:

English

Physical Description:

1 online resource (34 pages)

Other Title:

Monitoring the Climate Impact of Fiscal Policy

Regional economic outlook, october 2008

Place of Publication:

Washington, D.C. : International Monetary Fund, 2021.

Summary:

In the wake of the COVID-19 crisis, governments around the world announced unprecedented fiscal packages to address the economic impact of the crisis. The unusually large scale of the packages was accompanied by widespread calls for “greening” them to meet the dual goals of economic recovery and environmental sustainability. In response, several researchers and international organizations attempted to assess the “greenness” of the fiscal policy response of the world’s largest economies. This paper takes stock of the contributions made by these various trackers, identifies strengths and weaknesses of their methodologies, and draws lessons for assessing the climate impact of fiscal policy going forward. It finds that: trackers provided useful assessments of the (generally low) level of greenness and raised awareness; trackers’ methodologies, while valid and innovative, varied significantly with some important, if currently largely unavoidable, weaknesses; and the way forward should involve tracking the greenness of entire government budgets, rather than just their response to the COVID-19 crisis.

Notes:

Description based on print version record.

ISBN:

9781557755100

1557755108