COVID-19 has led to a global crisis threatening the lives and livelihoods of the most vulnerable by increasing poverty, exacerbating inequalities, and damaging long-term economic growth prospects. This report provides an analysis of over 3,500 fiscal policies announced by leading economies in 2020 and calls for governments to invest more sustainably and tackle inequalities as they stimulate growth in the wake of the devastation wrought by the pandemic.
In this, it will be critical for advanced economies and multilateral agencies to generously partner with emerging market and developing economies in meeting their own green recovery aspirations. This report explores the impacts of COVID-19 and the “great lockdown” on lives and livelihoods in 2020 and illustrates five green policy areas that could optimise economic recovery and aid in aligning countries with their global climate and sustainability commitments.