Climate change: a challenge for the economic recovery
While the G7 has set itself the goal of supporting “a green revolution that creates jobs,” ensuring that the post-COVID recovery makes a significant contribution to the fight against climate change may seem like a no-brainer. This may indeed well be a unique opportunity for the global economy to switch to a sustainable growth path.
As economies are accelerating, however, should policy makers aim at supporting activity in the short term or rather at investing, in a sustainable manner, to change the economy’s trajectory?
How to best articulate the fight against climate change with other post COVID objectives – notably with the need to avoid the persistent effects of the pandemic on activity, on young people integration into the labor market, on inequalities, and more broadly with the need to improve the resilience of our economies.
Given the difficulty of determining today what choices will be compatible with carbon neutrality, how to ensure a wide range of possibilities is left open?
Finally, given the amount of investments required, how to best ensure that private capital will support this objective, alongside public investment?
Banque nationale de Grèce (Chypre)
Laboratoire des Sciences du Climat et de l’Environnement, Université Paris Saclay / Groupe d'experts intergouvernemental sur l'évolution du climat (GIEC)