{"id":35900,"date":"2021-03-08T06:05:51","date_gmt":"2021-03-08T06:05:51","guid":{"rendered":"https:\/\/www.climatepolicyinitiative.org\/?post_type=cpi_pr&#038;p=35900"},"modified":"2021-03-08T06:08:21","modified_gmt":"2021-03-08T06:08:21","slug":"new-study-measures-the-greenness-of-the-covid-19-recovery-packages-and-their-contribution-towards-country-level-climate-objectives-in-five-asian-countries","status":"publish","type":"cpi_pr","link":"https:\/\/www.climatepolicyinitiative.org\/pt-br\/press-release\/new-study-measures-the-greenness-of-the-covid-19-recovery-packages-and-their-contribution-towards-country-level-climate-objectives-in-five-asian-countries\/","title":{"rendered":"New study measures the \u2018greenness\u2019 of the COVID-19 recovery packages and their contribution towards country-level climate objectives in five Asian countries"},"content":{"rendered":"\n<p>Jakarta, March 8, 2021 \u2013 Five of Asia\u2019s biggest economies \u2013 India, Indonesia, the Philippines, Singapore, and South Korea \u2013 have together announced a total of USD 884 billion in COVID-19 recovery stimulus packages.<\/p>\n\n\n\n<p>Climate Policy Initiative and Vivid Economics launched a new report, \u201c<a href=\"https:\/\/www.climatepolicyinitiative.org\/publication\/improving-the-impact-of-fiscal-stimulus-in-asia-an-analysis-of-green-recovery-investments-and-opportunities\/#_ftn1\"><em>Improving the impact of fiscal stimulus in Asia: An analysis of green recovery investments and opportunities<\/em><\/a><em>\u201d<\/em> that maps the \u2018greenness\u2019 of the fiscal stimulus measures and their contribution towards country-level climate objectives during the year 2020.<\/p>\n\n\n\n<p>The study was launched in a high-level virtual dialogue that featured key policymakers from Asian countries, including <strong>Muhammad Chatib Basri<\/strong>, Senior Lecturer at University of Indonesia and Former Minister of Finance, Republic of Indonesia, <strong>Dr. Barbara Buchner<\/strong>, Global Managing Director, Climate Policy Initiative, <strong>Paola Alvarez<\/strong>, Assistant Secretary, Department of Finance, the Republic of the Philippines, <strong>Mahua Acharya<\/strong>, CEO of Convergence Energy Services Limited, subsidiary under Ministry of Power, Government of India, <strong>Mihir Swarup Sharma<\/strong>, Senior Fellow and Head, Economy and Growth Programme, India, and <strong>Tiza Mafira<\/strong>, Associate Director, Climate Policy Initiative, to deliberate on how their respective countries have considered a green economic recovery.<\/p>\n\n\n\n<p>The report builds on the Greenness of Stimulus Index (GSI) developed by Vivid Economics to assess the sustainability implications of fiscal stimulus packages across the five Asian countries included in the study. The index suggests that countries are not doing enough to incorporate climate considerations into their fiscal stimulus responses.<\/p>\n\n\n\n<p><em>Figure: \u2018Greenness\u2019 index of stimulus packages in five Asian countries during the year 2020<\/em><\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-style-default\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"358\" src=\"https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2021\/02\/image012-1024x358.png\" alt=\"\" class=\"wp-image-35361\" srcset=\"https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2021\/02\/image012-1024x358.png 1024w, https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2021\/02\/image012-300x105.png 300w, https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2021\/02\/image012-1536x537.png 1536w, https:\/\/www.climatepolicyinitiative.org\/wp-content\/uploads\/2021\/02\/image012.png 1753w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><strong>Key findings of the report include:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>South Korea announced the largest stimulus package (USD 333.7 billion),<\/strong> followed by India (USD 332.9 billion), Singapore (USD 85.7 billion), Indonesia (USD 74.7 billion), and the Philippines (USD 17.0 billion).<\/li><li><strong>GDP % (Gross Domestic Product)<\/strong>: Singapore has provided the largest share of recovery packages (24%), followed by South Korea (20%), India (12%), Indonesia (6%), and the Philippines (4%).<\/li><li><strong>South Korea has the highest share of green stimulus measures, accounting for US$ 37 billion or 53% of environmentally related measures.<\/strong> Meanwhile, 31% (or US$ 27.7 billion) of environmentally-related stimulus measures in India and 4% (or US$ 0.3 billion) in Indonesia are directed towards green outcomes, while the Philippines and Singapore have included no commitment towards green outcomes based on the analysis.<\/li><\/ul>\n\n\n\n<p>The study includes key recommendations to ensure a sustainable recovery across the five Asian countries. It highlights the definitive need for governments to integrate green considerations into the design of their COVID-19 stimulus packages for long-term, sustainable economic growth and further emphasises that the sheer size of fiscal stimulus packages represents a strong policy signal regarding country priorities for the direction of economic recovery, making it important that it embeds support for green businesses.<\/p>\n\n\n\n<p><strong>&#8212;&#8212;&#8211;<\/strong><\/p>\n\n\n\n<p><strong>QUOTES<\/strong><\/p>\n\n\n\n<p><strong>&nbsp;<\/strong>\u201cDon\u2019t waste this crisis\u201d said <strong>Indonesia\u2019s Former Minister of Finance,<\/strong> <strong>Muhammad Chatib Basri<\/strong>, \u201cWe can take this opportunity to use the fiscal policy for a green recovery\u201d.<\/p>\n\n\n\n<p>\u201cStemming the next crisis means that mainstreaming climate action into regular decision-making is the need of the day. We must continue ambitious action on climate change as the world recovers from the pandemic, particularly as trillions are spent on economic stimulus,\u201dsaid <strong>Dr. Barbara Buchner, CPI\u2019s Global Managing Director.<\/strong><\/p>\n\n\n\n<p><strong>CONTACT<\/strong><\/p>\n\n\n\n<p>Rob Kahn<br>Communications Manager<br><a href=\"mailto:rob.kahn@cpiglobal.org\">rob.kahn@cpiglobal.org<\/a><\/p>\n\n\n\n<p>Angel Jacob<br>Senior Communications Associate<br><a href=\"mailto:angel.jacob@cpiglobal.org\">angel.jacob@cpiglobal.org<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Climate Policy Initiative and Vivid Economics launched a new report, that maps the \u2018greenness\u2019 of the fiscal stimulus measures and their contribution towards country-level climate objectives during the year 2020.<\/p>\n","protected":false},"featured_media":0,"template":"","format":"standard","meta":{"_acf_changed":false},"programs":[],"regions":[1169,155,156,1508,1509,308],"topics":[1199,677,1503,1226],"collaborations":[],"class_list":["post-35900","cpi_pr","type-cpi_pr","status-publish","format-standard","hentry","regions-asia","regions-india","regions-indonesia","regions-philippines","regions-singapore","regions-south-korea","topics-finance","topics-fiscal-policy","topics-green-recovery","topics-policy-and-regulation"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>New study measures the \u2018greenness\u2019 of the COVID-19 recovery packages and their contribution towards country-level climate objectives in five Asian countries - CPI<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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