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A green recovery from the pandemic will bring more jobs, more economic success

Business Green 19th Oct 2020, Analysis published by We Mean Business coalition recommends policymakers
reject traditional stimulus programmes that focus on VAT reductions and
boosting household spending in favour of targeted support for green
technologies and solutions.

In the latest addition to the library of
studies that has underscored the benefits of a ‘green recovery’ to the
coronavirus pandemic, economists have today published a new research
detailing how stimulus packages that invest in low carbon technologies and
infrastructure will generate more income, jobs, and GDP than traditional
recovery measures.

Economies around the world stand to benefit if
governments opt to invest in energy efficiency improvements, tree planting,
and electricity grid upgrades, while supporting an acceleration in the roll
out of wind and solar power capacity and introducing car scrappage schemes
that boost sales of electric vehicles, according to a report published this
morning by the We Mean Business Coalition.

After modelling a ‘green
recovery’ plan against a ‘return-to-normal’ plan across the UK, Germany,
Poland, US, India, and globally, researchers from Cambridge Econometrics
concluded the impact of a green recovery strategy would be “consistently
larger” than that delivered through a standard stimulus package.

“This report confirms what many companies already know – investing in the zero
carbon future is the best way to ensure business success,” said Maria
Mendiluce, chief executive of the We Mean Business coalition. “For
governments, spending and tailoring policies in a way that boosts green
technologies and innovation brings benefits to businesses, economies and
people as well as cutting emissions. To invest in any other way would be to
set the world on course for economic and environmental disaster at a time
when we need to build resilience.”

October 20, 2020 - Posted by | 2 WORLD

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