The world is facing an unprecedented economic crisis. Bold action is needed to stimulate the economy, generate jobs and lay the foundations of a sustainable recovery.
The urgency of the economic crisis is matched by the imperative to tackle climate change. Stimulus packages could help kick-start low carbon industries and markets to drive the structural transformation needed to put the world on the path to a near zero carbon economy by 2050.
The economic pattern of the next decade will be set in the coming months. Major economies have already committed to spend $3.1 trillion on fiscal stimulus and financial guarantees over the coming years. So far, however, at most 23% has been allocated to low carbon investment, broadly defined, with Europe trailing well behind the global average.
In his report entitled “Delivering a Sustainable Low Carbon Recovery”, Nick Mabey lays out proposals for the G20 London Summit on delivering a sustainable low carbon recovery.