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"Building Back Better" in Practice: A Science-Policy Framework for a Green Economic Recovery after COVID-19 (English)

As humanity’s current production and consumption patterns exceed planetary boundaries, many opinion leaders have stressed the need to adopt green economic stimulus policies in the aftermath of the COVID-19 pandemic, in line with the United Nations Sustainable Development Goals and the Paris Agreement on Climate Change. This paper provides an integrated framework to design an economic recovery strategy aligned with sustainability objectives through a multi-criterion, multi-stakeholder lens. The aim is to enable decisions by policy makers with the aid of transparent workflows that include expert evidence that is based on quantitative open-source modeling, and qualitative input by diverse social actors in a participatory approach. The paper employs an energy systems model and an economic input-output model to provide quantitative evidence and design a multi-criteria decision process that engages stakeholders from government, enterprises, and civil society. As a case study, the paper studies 13 green recovery measures that are relevant for Cyprus and assesses their appropriateness for criteria related to environmental sustainability, socioeconomic and job impact, and climate resilience. The results highlight trade-offs between immediate and long-run effects, between economic and environmental objectives, and between expert evidence and societal priorities. Importantly, the paper finds that a “return-to-normal” economic stimulus is not only environmentally unsustainable, but also economically inferior to most green recovery schemes.

Details

  • Author

    Zachariadis,Theodoros, Giannakis,,Elias, Taliotis,Constantinos, Karmellos,Marios, Fylaktos,Nestor, Howells,Mark Idwal, Blyth,William James, Hallegatte,Stephane

  • Document Date

    2021/01/28

  • Document Type

    Policy Research Working Paper

  • Report Number

    WPS9528

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    World,

  • Region

    The World Region,

  • Disclosure Date

    2021/01/28

  • Disclosure Status

    Disclosed

  • Doc Name

    "Building Back Better" in Practice: A Science-Policy Framework for a Green Economic Recovery after COVID-19

  • Keywords

    Energy; export-oriented activity; emission trading system; decision support system; computable general equilibrium model; demand for energy service; operation and maintenance cost; adoption of energy efficiency; environmental management system; energy efficient lighting; economic sector; Economic Stimulus; economic recovery; mode of transport; tram line; energy efficiency measure; energy policies; public works department; carbon taxation; battery electric; demand stimulus; high energy saving; power generation mix; Integrated Assessment Framework; final energy demand; solar power generation; energy efficiency upgrade; heavy duty vehicle; power generation technology; solar water heater; annual energy saving; vehicles per year; private passenger car; loans to business; light commercial vehicle; carbon dioxide equivalent; competent national authority; carbon emission reduction; national energy security; transmission and distribution; long-run effect; world health organization; take time; legally binding obligation; energy efficiency performance; greenhouse gas emission; Energy & Environment; energy efficiency investment; long-run impact; allocation of investment; field of energy; availability of finance; supply of skill; job creation potential; household saving rate

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Citation

Zachariadis,Theodoros Giannakis,,Elias Taliotis,Constantinos Karmellos,Marios Fylaktos,Nestor Howells,Mark Idwal Blyth,William James Hallegatte,Stephane

"Building Back Better" in Practice: A Science-Policy Framework for a Green Economic Recovery after COVID-19 (English). Policy Research working paper,no. WPS 9528,COVID-19 (Coronavirus) Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/622001611844084014/Building-Back-Better-in-Practice-A-Science-Policy-Framework-for-a-Green-Economic-Recovery-after-COVID-19