The impact of COVID-19 fiscal spending on climate change adaptation and resilience
Government expenditure and taxation have an influence on the adaptation and resilience of societies to climate shocks.
Abstract
Government expenditure and taxation have a significant influence on the long term adaptation and resilience of societies to climate and other environmental shocks. Unprecedented fiscal spending in the COVID-19 recovery offered an opportunity to systematically enhance adaptation and resilience to future shocks. But did the 鈥榖uild back better鈥� rhetoric manifest in more resilient policy? The authors develop the first dedicated fiscal policy taxonomy for climate change adaptation and resilience - the Climate Resilience and Adaptation Financing Taxonomy (CRAFT) and apply this to analyse approximately 8,000 government policies across 88 countries.
This study is part of the Climate Compatible Growth Programme.
Citation
Sadler A, Ranger N, Fankhauser S, Marotta F and O鈥機allaghan B. 鈥楾he impact of COVID-19 fiscal spending on climate change adaptation and resilience鈥� Nature Sustainability 2024: volume 7, pages 1-12