economy
Budgetary guidelines for a low-carbon economy Climate change, climate hazards, and climate disasters are happening more frequently and have the potential to put economies on a path of slower growth, more financial instability, budgetary restrictions, and even poverty traps. For developing nations that are more susceptible, this is especially true. Fiscal Policies for a Low-Carbon Economy, our recent report, explores how a combination of carbon pricing and green bonds might manage climate-related risks, enhance economic recovery strategies, and enable a just transition to a low-carbon economy. According to studies on climate economics, green bonds can help advance renewable energy technology, better address the issue of fair transition, and act as a stabilizing force on the financial market when compared to conventional assets, particularly those based on fossil fuels. They can also accelerate the low-carbon transition. Our research backs up these conclusions. Global green bond is...