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Nicoletta Batini, Mario di Serio, Matteo Fragetta, and Mr. Giovanni Melina
This paper estimates multipliers for spending in clean energy and biodiversity conservation to help inform stimulus measures for a post-COVID-19 sustainable recovery. Using a new international dataset, part of which was especially assembled for this analysis, we find that every dollar spent on key carbon-neutral or carbon-sink activities—from zero-emission power plants to the protection of wildlife and ecosystems—can generate more than a dollar’s worth of economic activity. The estimated multipliers associated with green spending are about 2 to 7 times larger than those associated with non-eco-friendly expenditure, depending on sectors, technologies and horizons. These findings survive several robustness checks and suggest that ‘building back better’ could be a win-win for economies and the planet.
Nicoletta Batini, Mario Di Serio, Matteo Fragetta, Mr. Giovanni Melina, and Anthony Waldron

spending, nuclear energy, biodiversity, nature-based solutions, agricultural subsidies, fossil fuels. Authors’ E-Mail Address: nbatini@imf.org ; mdiserio@unisa.it ; mfragetta@unisa.it ; gmelina@imf.org ; aw845@cam.ac.uk Contents Abstract I. Introduction II. Why More Is Needed on Clean Energy and Conservation III. Data on Green and Non-eco-friendly Spending A. Green Energy Spending Data B. Non-Eco-Friendly Energy Spending Data C. Green Land Use Spending Data D. Non-Eco-Friendly Land Use Spending Data IV. Methodology A. Empirical

Nicoletta Batini, Mario Di Serio, Matteo Fragetta, Mr. Giovanni Melina, and Anthony Waldron

, R. Davis , R. Harris , X. Hou-Jones , S. Huq , V. Kapos , G.M. Mace , A.R. Rizvi , H. Reid , D. Roe , S. Wicander , 2020 . “ Global recognition of the importance of nature-based solutions for climate change adaptation .” Global Sustainability 3 2020, e15 . Stiglitz , J. , 2020 . Green Dealing – The Green Recovery Event , Project Syndicate, October 15, 2020 . https://www.project-syndicate.org/videos/green-dealing-the-green-recovery-event?referral=d582d5 Stock , J. H. and M. W. Watson , 2005

Nicoletta Batini, Ian Parry, and Mr. Philippe Wingender

: https://climateactiontracker.org/global/temperatures . Chami , Ralph , Thomas Cosimano , Connel Fullenkamp , and Sena Oztosun , 2019 . “ Nature’s Solution to Climate Change: A strategy to protect whales can limit greenhouse gases and global warming ,” Finance and Development , 56 ( 4 ), ( Washington : International Monetary Fund ). Chami , Ralph , Thomas Cosimano , Connel Fullenkamp , Fabio Berzaghi , Sonia Espanol-Jimenez , Milton Marcondes and Joe Palazzo , 2020 . “ On Valuing Nature-Based Solutions to

Nicoletta Batini, Mario Di Serio, Matteo Fragetta, Mr. Giovanni Melina, and Anthony Waldron

examples of nature-based negative emissions technologies (“nature-based solutions” or NBSs) in the form of expenditure on biodiversity conservation and rewilding. 3 These are increasingly regarded by science as solutions that support the Earth’s natural capabilities to sequester carbon and mitigate climate change. Moreover, these measures have been shown to be a vital complement of planetary climate and global temperature stabilization strategies ( IPCC 2019 ; IPBES, 2019 ; Foley et al., 2020 ; Dasgupta et al., 2021 ). Using a new international dataset, part of

Nicoletta Batini, Ian Parry, and Mr. Philippe Wingender
Denmark has a highly ambitious goal of reducing greenhouse gas emissions 70 percent below 1990 levels by 2030. While there is general agreement that carbon pricing should be the centerpiece of Denmark’s mitigation strategy, pricing needs to be effective, address equity and leakage concerns, and be reinforced by additional measures at the sectoral level. The strategy Denmark develops can be a good prototype for others to follow. This paper discusses mechanisms to scale up domestic carbon pricing, compensate households, and possibly combine pricing with a border carbon adjustment. It also recommends the use of revenue-neutral feebate schemes to strengthen mitigation incentives, particularly for transportation and agriculture, fisheries and forestry, though these schemes could also be applied more widely.
Nicoletta Batini, Ian W.H. Parry, Mr. Philippe Wingender, and Miguel A. Segoviano

EUs revised National Emissions Ceilings Directive targeting reductions in ammonia (NH3) and non-methane volatile organic compounds (NMVOCs), in addition to nitrogen oxides (NOx), sulphur dioxide (SO2) and fine particulate matter (PM2.5). 78 Figure 15: Avoidable mortality (preventable and treatable) and health expenditure Sources: OECD Health at a Glance 2019. Protecting whales offers an additional, “no-tech” nature-based solution to climate change . Whales store tens of tons of carbon in their bodies and sequester it permanently when they die and sink

International Monetary Fund. Communications Department
Finance & Development, December 2020
International Monetary Fund. Communications Department
Finance & Development, December 2020
International Monetary Fund. Communications Department
Finance & Development, December 2020