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Methodology Developed by CyI Researchers to Integrate Climate Policies in COVID-19 Economic Recovery Packages Promoted by World Bank Featured

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Since the beginning of the COVID-19 pandemic, a team of The Cyprus Institute researchers including Nestor Fylaktos, Elias Giannakis, Constantinos Taliotis, and Marios Karmellos, coordinated by Associate Professor Theodoros Zachariadis, have been working with international colleagues to identify appropriate measures for a green economic recovery of the Cypriot economy, and assess these measures with economic and sustainability criteria. Economists of the World Bank believe this approach may serve as an example for other countries and are collaborating with CyI on this project.

Despite the persistence of the COVID-19 pandemic, governments around the world are gradually transitioning from immediate relief to economic recovery. As countries move from generic declarations to specific national policies, there is a lot of groundwork to be done. Each country must identify the interventions which fit with its special conditions, resources, and needs. At the same time, leaders of international organisations have stressed the importance of adopting green economic stimulus policies to build greener economies more resilient to climate change, social unrest, and epidemics. During the last months, global economic support for relief and recovery from the pandemic has risen to very significant levels. However, the picture is mixed whether such stimulus measures conform with climate-compatible growth (CCG) and broader sustainability objectives.

In this study, researchers looked at whether a country-specific methodology could effectively screen for green recovery measures that respond to immediate needs while also building resilience. This particular study, describes this process, along with guidelines that might be useful for other countries.

Final results, including a comprehensive science-policy framework to assess green economic recovery measures, will appear on a second post at the same blog later in 2020. The first part of this work has been published on the World Bank's climate blog and is available here: https://blogs.worldbank.org/climatechange/integrating-climate-policies-covid-19-economic-recovery-packages-example-cyprus.


 

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Fig 1. - Methods Used to Evaluate Green Recovery Measures
 

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