As the world emerges from the crisis of COVID-19, governments will introduce recovery packages to boost economic growth. These will have a highly significant impact on the future prosperity, including the potential to meet net-zero emissions targets announced in many countries. Collectively, the packages will strongly influence whether the global Paris Agreement targets are met. This briefing is focused on the UK but is relevant to other, especially advanced economies, and identifies ten fiscal recovery policies which promise to bring both short term high economic impact, and long-term structural change through decoupling greenhouse gas (GHG) emissions from economic growth.
These policies would support net-zero emissions by 2050 while achieving wider social equality by ‘levelling up’ and addressing regional and intergenerational disparities, as affected workers are retrained, and physical infrastructure and environmental assets are improved.