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Investing in Climate, Investing in Growth

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This report provides an assessment of how governments can generate inclusive economic growth in the short term, while making progress towards climate goals to secure sustainable long-term growth. It describes the development pathways required to meet the Paris Agreement objectives and underlines the value of well-aligned policy packages in mobilising investment and social support for the transition while enhancing growth. The report also sets out the structural, financial and political changes needed to enable the transition.

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Growth implications of climate action

The current global economic environment provides governments with an opportunity to boost economic growth while also addressing the challenges of climate change. Ensuring that growth is low-emission, resilient and inclusive can help to meet the Paris Agreement goals while also delivering on the Sustainable Development Goals. While the synergies between climate and growth policies are substantial, capitalising on them requires fiscal initiatives to scale up public and private investment in the right technologies and infrastructure, combined with a well-designed structural reform package. This chapter shows how these pro-growth reform policies can support ambitious policy action on climate change to create a “decisive transition” to a lowemission, high-growth future. It presents model simulations that combine climate action with pro-growth policies including the impacts of delaying action.

English

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