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ROME – Rows of unemployed, GDP in free fall, recession. If this is the scenario that is emerging in the world and in Europe, where Italy is among the last, there are those who trust and press for a recovery that passes through environmental policies. The best way to start again.
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In short, Covid 19, the one that immersed us in these grim scenarios, could actually be a driving force for a recovery capable of reviving the economic fortunes of many countries. However, as long as the recovery involves policies that respect the environment. To support him, this time, it is not the young activist Greta Thunberg, but a group of world-renowned economists, including the Nobel Prize Joseph Stiglitz and Nicholas stern, who has always pressed the button about the weather.
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The academics cataloged more than 700 public stimuli by dividing them into 25 large groups and conducting a global survey of experts from 53 countries, including senior officials from the ministries of finance and central banks. The work will be published in the Oxford Review of Economic Policy. It leaves Great Britain; therefore, it is also a signal to the Boris Johnson government, but does not exclude other countries, including Italy.
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The thesis is that green projects create more jobs, offer higher short-term returns and generate greater long-term savings than traditional tax incentives.
“The reduction in emissions initiated by Covid-19 may be short-lived, says Cameron Hepburn, lead author of the report and director of the Smith Smith School of Enterprise and Environment, but from this work it is clear that we can choose to better rebuild the focus in clean energy. ” And because building clean energy infrastructure is labor intensive, creating twice as many jobs per dollar compared to investments in fossil fuels, as well as being less susceptible to relocation. Covid 19, with its burden of anguish, could be an opportunity to rethink the economy.
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How about Italy? “It was fascinating to notice – declares a republicCameron Hepburn – how the 28 Italians interviewed, including officials from the Central Bank and the Ministry of Economy, showed a greater appreciation for the alignment between the climate and the economy compared to other countries. Getting Italians back to work on clean energy infrastructure, redevelopment of buildings, and natural capital is a great way to lift the country out of recession and prepare it for a zero-emission future. “
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Clarifying from the outset that “green” policies can be broadly defined, the study focused on reducing greenhouse gas emissions as a key criterion for the environment. Examples include investments in renewable energy production, such as wind or solar. Infrastructures, the authors recall, create twice as many jobs per dollar compared to investments in traditional forms of polluting energy.
Other policies to follow include expenditures for adaptation to the efficiency of buildings, clean research and development costs, investments in natural capital for ecosystem resilience and regeneration, and investments in education and training to address immediate unemployment caused by Covid. -19, along with unemployment due to decarbonization. And agriculture? Sustainable has been ranked first among the policies to follow.
“Some of the changes imposed on us during the pandemic – says Ajay Gambhir, principal investigator at the Grantham Institute for Climate Change and the Environment, Imperial College London – including many more duties and fewer trips, have inadvertently made us see a future with quieter, cleaner and less stressful roads. Supporting these changes, through accelerated investments in domestic broadband and electric vehicles, as well as low-carbon, energy-efficient homes, makes excellent economic and environmental sense. ” . Dimitri Zenghelis, special consultant to the Wealth Economics Project, Bennett Institute, University of Cambridge is a lapidary. “We cannot go back to the old” usual “model. We must move forward.
