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Slouching or speeding toward net zero? Evidence from COVID-19 energy-related stimulus policies in the G20
This paper analyzes the size and nature of green fiscal stimulus in the G20 countries in response to the COVID-19 crisis, with a focus on the energy-related policies. We exploit a new dataset, the Energy Policy Tracker (EPT), with detailed information on countries' policies since the start of t...
Autores principales: | , , |
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Formato: | Online Artículo Texto |
Lenguaje: | English |
Publicado: |
Elsevier B.V.
2022
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Materias: | |
Acceso en línea: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9378268/ https://www.ncbi.nlm.nih.gov/pubmed/35996446 http://dx.doi.org/10.1016/j.ecolecon.2022.107586 |
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author | Andrew, Kevin Majerbi, Basma Rhodes, Ekaterina |
author_facet | Andrew, Kevin Majerbi, Basma Rhodes, Ekaterina |
author_sort | Andrew, Kevin |
collection | PubMed |
description | This paper analyzes the size and nature of green fiscal stimulus in the G20 countries in response to the COVID-19 crisis, with a focus on the energy-related policies. We exploit a new dataset, the Energy Policy Tracker (EPT), with detailed information on countries' policies since the start of the pandemic. Between January 2020 and December 2021, G20 countries enacted 913 stimulus measures that have direct impacts on energy supply and demand. The average country spent $395 USD per person on energy-related policies. Only 30% of this amount, on average, is devoted to low-carbon measures, mostly in the transit and buildings sectors, with considerable variation across countries. To properly compare countries' efforts in aligning their COVID-19 stimulus with climate goals, we construct a new index, the Green Energy Policy Index (GEPI), using principal components analysis, taking into account both “green” and “brown” stimulus measures. The GEPI varies considerably across countries. We find that on average, countries with a “greener” energy-related stimulus are wealthier and have a lower emission intensity. On average, countries that have experienced the crisis more acutely, both in terms of deaths and gross domestic product (GDP) loss, have “greener” stimulus packages. We discuss the implications of these findings for future research and climate energy policy-making. |
format | Online Article Text |
id | pubmed-9378268 |
institution | National Center for Biotechnology Information |
language | English |
publishDate | 2022 |
publisher | Elsevier B.V. |
record_format | MEDLINE/PubMed |
spelling | pubmed-93782682022-08-16 Slouching or speeding toward net zero? Evidence from COVID-19 energy-related stimulus policies in the G20 Andrew, Kevin Majerbi, Basma Rhodes, Ekaterina Ecol Econ Article This paper analyzes the size and nature of green fiscal stimulus in the G20 countries in response to the COVID-19 crisis, with a focus on the energy-related policies. We exploit a new dataset, the Energy Policy Tracker (EPT), with detailed information on countries' policies since the start of the pandemic. Between January 2020 and December 2021, G20 countries enacted 913 stimulus measures that have direct impacts on energy supply and demand. The average country spent $395 USD per person on energy-related policies. Only 30% of this amount, on average, is devoted to low-carbon measures, mostly in the transit and buildings sectors, with considerable variation across countries. To properly compare countries' efforts in aligning their COVID-19 stimulus with climate goals, we construct a new index, the Green Energy Policy Index (GEPI), using principal components analysis, taking into account both “green” and “brown” stimulus measures. The GEPI varies considerably across countries. We find that on average, countries with a “greener” energy-related stimulus are wealthier and have a lower emission intensity. On average, countries that have experienced the crisis more acutely, both in terms of deaths and gross domestic product (GDP) loss, have “greener” stimulus packages. We discuss the implications of these findings for future research and climate energy policy-making. Elsevier B.V. 2022-11 2022-08-16 /pmc/articles/PMC9378268/ /pubmed/35996446 http://dx.doi.org/10.1016/j.ecolecon.2022.107586 Text en © 2022 Elsevier B.V. All rights reserved. Since January 2020 Elsevier has created a COVID-19 resource centre with free information in English and Mandarin on the novel coronavirus COVID-19. The COVID-19 resource centre is hosted on Elsevier Connect, the company's public news and information website. Elsevier hereby grants permission to make all its COVID-19-related research that is available on the COVID-19 resource centre - including this research content - immediately available in PubMed Central and other publicly funded repositories, such as the WHO COVID database with rights for unrestricted research re-use and analyses in any form or by any means with acknowledgement of the original source. These permissions are granted for free by Elsevier for as long as the COVID-19 resource centre remains active. |
spellingShingle | Article Andrew, Kevin Majerbi, Basma Rhodes, Ekaterina Slouching or speeding toward net zero? Evidence from COVID-19 energy-related stimulus policies in the G20 |
title | Slouching or speeding toward net zero? Evidence from COVID-19 energy-related stimulus policies in the G20 |
title_full | Slouching or speeding toward net zero? Evidence from COVID-19 energy-related stimulus policies in the G20 |
title_fullStr | Slouching or speeding toward net zero? Evidence from COVID-19 energy-related stimulus policies in the G20 |
title_full_unstemmed | Slouching or speeding toward net zero? Evidence from COVID-19 energy-related stimulus policies in the G20 |
title_short | Slouching or speeding toward net zero? Evidence from COVID-19 energy-related stimulus policies in the G20 |
title_sort | slouching or speeding toward net zero? evidence from covid-19 energy-related stimulus policies in the g20 |
topic | Article |
url | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9378268/ https://www.ncbi.nlm.nih.gov/pubmed/35996446 http://dx.doi.org/10.1016/j.ecolecon.2022.107586 |
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