Implications for Emerging and Developing Economies

Rebuilding a greener global economy after the COVID-19 pandemic requires learning from what has worked and what has not from previous efforts to seize green incentives during the 2008-09 Great Recession. These investments focused on energy efficiency spending and “shovel-ready” clean energy projects, and almost all of the green incentives came in the G20 economies. They had an impact on job creation and the expansion of renewable energies for several years, but provided little long-term support for the decarbonization of the global economy. The major obstacles have been major market deterrents, particularly the undervaluation of fossil fuels. Measures for a sustainable green recovery are much more than just short-term stimuli. They require targeted long-term investments in public infrastructure and price reforms.

However, the reform package for large economies like the G20 will be different than for smaller emerging and developing countries, which corresponds to their different structural conditions and needs. During this talk, the speaker will discuss the potential cost-effective and innovative policy mechanisms that emerging and developing countries could consider to make progress towards the Sustainable Development Goals (SDGs).

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