On May 17, the Global Subsidies Initiative will release Achieving a Fossil-Free Recovery, a new report that lays out concrete options for governments to achieve net-zero goals by using recovery spending to support the transition to clean energy and a resilient, fossil-free economy. 

Experts have already begun to comment on the practical applications of the report, particularly as governments face the challenge of rebuilding their economies following the COVID-19 pandemic while ensuring recovery supports climate goals.

"Governments can use their energy sectors to address climate change at the same time as boosting their economies in the aftermath of COVID-19 and without compromising developmental goals, such as energy access. This report skillfully abstracts how governments can align COVID-19 recovery with climate ambitions," said Angela Picciariello, Senior Research Officer, Climate and Sustainability, Overseas Development Institute.

The report recommends evidence-based policy solutions to maximize sustainable impact while supporting people and communities through just transition measures.

"Fossil fuel subsidy reform and carbon pricing have long been at the top of the climate agenda. The recovery measures to limit the economic damages of the COVID-19 pandemic increase the need for a regulatory environment that prevents further lock-in of carbon-intensive activities. This report provides a compelling overview of the most recent evidence of how policy-makers can set the right incentives to build back better," said Michael Jakob, a Fellow at the Mercator Research Institute on Global Commons and Climate Change.

This study comes at a critical time for climate action and highlights important measures for governments to take as energy systems shift.

“With nearly half the world’s coal power stations running at a loss and renewable energy costs declining, it makes economic sense for governments to transition to cleaner energy sources. It makes social and environmental sense too, by offering a more sustainable and equitable energy future for all. This report is a timely survey of the policy actions governments can take to accelerate the energy transition and in so doing, increase resilience to future economic shocks,” said Olivia Coldrey, Head, Energy Finance & Clean Cooking at Sustainable Energy For All.

Read more about a fossil-free recovery here and look out for the new IISD-GSI report coming May 17.