COVID-19 recovery funds dwarf clean energy investment needs
Authors
Marina Andrijevic, Carl-Friedrich Schleussner, Matthew Gidden, David McCollum, Joeri Rogelj
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Governments around the globe are responding to the economic crisis brought about by the coronavirus pandemic with unprecedented economic recovery packages.
Several influential voices, including the United Nations (UN) secretary-general, heads of state, companies, investors, and central banks, have called for post–COVID-19 economic recovery efforts to be used to catalyse the necessary longer-term transformation toward a more sustainable and resilient society.This study shines a light on the opportunity for these investments to support a green recovery by inventorying and classifying the latest information on governments' fiscal stimulus plans and comparing the size of these measures to estimates of low-carbon energy investment needs compatible with the 2015 UN Paris Agreement.
The study shows that low-carbon investments to put the world on an ambitious track toward net zero carbon dioxide emissions by mid-century are dwarfed by currently announced COVID-19 stimulus funds. But marked differences across countries and regions at differing stages of development emphasise the role that international support and global partnership must play to create conditions that enable a global climate-positive recovery.
![Global overview of covid 19 recovery stimulus and annual investments in the energy system](https://ca1-clm.edcdn.com/assets/_600xAUTO_crop_center-center_none/global-overview-of-covid-19-recovery-stimulus-and-annual-investments-in-the-energy-system.jpg?v=1706670080)