Countries have fallen short in their commitments to build back better after the COVID-19 pandemic, with just 18 per cent of announced recovery spending going towards ‘green’ investment, according to a new report published on Wednesday by the UN and Oxford University. The study analyses pandemic-related fiscal policies of 50 leading economies and reveals that only $386 billion of the $46 trillion spent last year, could be considered green and sustainable. The report raises five key questions going forward, such as what spending pathways could enhance economic recovery and environmental sustainability, and what kind of recovery investments are countries making to combat climate change, nature loss and pollution. The study underscores that green recovery can bring stronger economic growth, while also helping to meet global environmental targets and addressing structural inequalities which have been exposed by the pandemic.
By UN News. March 10, 2021.