New Greenness of Stimulus Index Report: Nature’s role in preventing pandemics neglected in US$12.7 trillion stimulus
29 October 2020, 00:00:00
Latest Greenness of Stimulus Report Released
The latest GSI report shows that economic rescue and recovery funds worldwide have failed to tackle natural world destruction.
F4B and Vivid have analysed hundreds of coronavirus stimulus measures. To date, the world’s leading economies have committed US$12.7 trillion stimulus funding to support frontline health services, prop up stricken businesses, cushion household incomes and try to steer recovery.
The “Greenness of Stimulus Index” finds that total quantified stimulus funding to improve biodiversity and preserve ecosystems totalled just US$93 billion, compared with a total $502 billion of total green stimulus.
After non-monetary, regulatory changes are taken into account, such as easing of logging permits, the damage to nature directly caused by the stimulus to date is expected to exceed the benefit to nature from new conservation and restoration actions.
The latest report update includes the economic stimulus packages of the G20 economies, plus Spain, the Philippines and Singapore. The study found that, to date, only the stimulus of five of these 23 leading economies included in the analysis had achieved a net beneficial impact on climate and nature.
The latest report found that many countries have shifted towards a greener stimulus (see chart below). Most notably, France, Germany, South Korea, Spain and Canada have achieved substantial improvements in their index scores. The United States remains a laggard.