Foreign, Commonwealth & Development Office

10/10/2024 | Press release | Distributed by Public on 10/10/2024 10:02

The impact of COVID-19 fiscal spending on climate change adaptation and resilience

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.

From:Foreign, Commonwealth & Development OfficePublished28 February 2024
Document Type: Journal ArticleTheme: Climate and Environment, Economic Growth, HealthAuthors: Sadler, A., Ranger, N., Fankhauser, S., Marotta, F., O'Callaghan, B.

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 'build back better' 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'Callaghan B. 'The impact of COVID-19 fiscal spending on climate change adaptation and resilience' Nature Sustainability 2024: volume 7, pages 1-12

Links

The impact of COVID-19 fiscal spending on climate change adaptation and resilience

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Published 28 February 2024