There is much current discussion of the form Government investment policy should take post-Covid-19. A study just published by the University of Oxford's Smith School of Enterprise and the Environment, and covered in Carbon Brief looks at whether various possible fiscal recovery packages would accelerate or retard progress on climate change.
Short version, five policy recommendations stand out:
- Clean physical infrastructure investment in the form of renewable energy assets, storage (including hydrogen), grid modernisation and carbon capture and storage (CCS) technology;
- Building efficiency spending for renovations and retrofits including improved insulation, heating and domestic energy storage systems;
- Investment in education and training to address immediate unemployment from Covid-19 and structural shifts from decarbonisation;
- Natural capital investment for ecosystem resilience and regeneration including restoration of carbon-rich habitats and climate-friendly agriculture; and
- Clean R&D spending.
There is also this really interesting analysis of varied impacts on both climate change and financial benefits. Look at the benefit of bailing out the airline sector in the bottom left - low benefit, lousy climate consequences of course, but quick returns.....
