The most cost-effective way for governments to jumpstart their pandemic-battered economies would be to invest in “green” stimulus policies that also serve to achieve long-term climate change goals, according to a new study published Tuesday by economists in the U.S. and the U.K.
For Canada, whose government has made a number of climate-friendly promises and set ambitious targets to reduce greenhouse gas emissions, one expert says the COVID-19 recovery will provide a chance for decision-makers to “pivot” to meet long-term environmental goals.
“It’s a wake-up call that as governments invest in the economic recovery, they need to be thinking about the level of systemic change that we’re aiming for it,” said Kathryn Harrison, professor of political science at the University of British Columbia, who has read the report by authors Cameron Hepburn, Brian O’Callaghan, Nicholas Stern, Joseph Stiglitz and Dimitri Zenghelis.
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1:26Coronavirus outbreak: Trudeau says COVID-19 can’t cause us to forget climate change, the ‘other’ global crisis
Coronavirus outbreak: Trudeau says COVID-19 can’t cause us to forget climate change, the ‘other’ global crisis
For the study,