11 Mar, 2021 06:00 am

Commitment To Post-pandemic ‘Green’ Recovery Falling Short, UN-backed Study Finds

Commitment To Post-pandemic ‘Green’ Recovery Falling Short, UN-backed Study Finds
Countries have fallen short in their commitments to build back better after the COVID-19 pandemic, with just 18 per cent of announced recovery spending going towards ‘green’ investment, according to a new report published on Wednesday by the UN ...

The research was led by Oxford’s Economic Recovery Project and the Global Recovery Observatory, an initiative based at the university, together with the UN Environment Programme (UNEP).Governments can use this moment to secure long-term economic, social, and environmental prosperity”, said Brian O’Callaghan, lead researcher at the Oxford University Economic Recovery Project and the report’s author.The report raises five key questions going forward, such as what spending pathways could enhance economic recovery and environmental sustainability, and what kind of recovery investments are countries making to combat climate change, nature loss and pollution.1 billion was announced for green transport, including through electric vehicle transfers and subsidies and investments in public transport, while $35.

2 billion was announced to retrofit buildings to increase energy efficiency, notably in France and the United Kingdom.Evidence from 2020 and Pathways for Inclusive Green Recovery Spending, calls for governments to invest more sustainably and tackle inequalities as they stimulate economic growth in the wake of the pandemic.

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