Promoting a Green Recovery in Asia
The Covid-19 crisis has had a lasting global impact and has forced governments to implement stimulus packages to help their economies recover. While addressing immediate social and healthcare needs is critical, a concerted effort is needed to incorporate climate goals into country-level Covid-19 responses. However, government stimulus packages are lacking in ambitious measures directed towards environmental outcomes and a sustainable long-term growth plan.
This report aims to assess the greenness of stimulus packages in China, India, Japan, and South Korea and propose opportunities to promote a climate-friendly recovery. Economies in Asia are at particular risk due to the impact of key environmental sectors. China, India, and other major Asian economies often have large industrial sectors that are environmentally intensive. Without the inclusion of green measures into their stimulus packages, these stimulus packages have the potential to delay the transition to low carbon economies.