Did COVID-19 accelerate the green transition? An international assessment of fiscal spending measures to support low-carbon technologies
Aulie, Frida ; Dechezleprêtre, Antoine ; Galindo-Ruedo, Fernando ; Kögel, Clara ; Pitavy, Inès ; Vitkova, Alzbeta
Organisation for Economic Co-operation and Development, Paris
OECD Publishing - Paris
2023
62 p.
sustainable development ; epidemic disease ; decarbonization ; climate change ; investment ; just transition
OECD Science, Technology and Industry Policy Papers
151
Economic development
https://doi.org/10.1787/5b486c18-en
English
Bibliogr.
"Fiscal spending policies adopted in the wake of the COVID-19 pandemic have been presented as a unique opportunity to “build back better” and re-ignite the economy while accelerating the transition to a low-carbon economy. This paper analyses 1 166 funding measures announced by 51 countries and the European Union in 2020-21 to support development and diffusion of low-carbon technologies. These measures – amounting to USD 1.29 trillion – can make an important contribution to filling the climate investment gap, particularly in emerging technologies such as carbon capture, usage and storage and green hydrogen. A modelling analysis suggests that they could have large impacts on greenhouse gas emissions and bring about significant co-benefits in terms of clean sectors' output growth and reductions in fossil fuel imports."
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