The course of economic recovery from a deep recession caused by the coronavirus outbreak will determine key developments in sectors crucial to the global energy transition for years after the pandemic is over. Economists, climate activists and energy experts are calling for government support measures that ensure climate action ambitions not only survive the economic nosedive but emerges from it stronger than before. Clean Energy Wire collects ideas on how so-called green stimulus packages can ensure a swift economic rebound with long-term environmental aims across different sectors.
The economic policy responses to the upcoming recession in Germany and many other countries due to the coronavirus pandemic will have a major impact on climate action. Governments have drawn up unprecedented aid packages to keep businesses and workers afloat. Now they are discussing stimulus packages worth hundreds of billions of euros that could lock in investments and technological developments in key areas for the energy transition for years after the corona crisis has passed at a time when many companies face future-defining decisions on their decarbonisation strategies. Environmental think tanks, economists, climate researchers and others already weighed in on the debate about how mistakes made in the wake of the 2008 financial crisis that let fossil fuel intensity spike could be avoided this time. Many also say the corona crisis offers an opportunity to leapfrog transition steps that otherwise could take years, as the comprehensive economic lockdown caused by the […]