Green Recovery scenarios in Visegrad Countries
Cambridge Econometrics is involved in analysing the potential of Green Recovery in various projects including work for the We Mean Business coalition and the UN Partnership for Action on Green Economy. As a part of this endeavour, we also carried out an analysis of potential of Green Recovery scenarios in the Visegrad group of countries (Czech Republic, Hungary, Poland, Slovak Republic) highlighting opportunities and differences.
The analysis, published in November 2020, begins with estimating the annual 2020 impacts of the COVID-19 pandemic in these countries. Followed by a modelling exercise, which quantifies the possible economic, labour and emission impacts of increased government spending towards green measures in the selected countries.
We found that while the impacts of these policies can differ across the countries, in general the Green Recovery policies can cut time needed for recovering to pre-COVID employment levels. Meanwhile they can severely reduce CO2 emissions, contributing to climate mitigation targets.
Below you can find a summary of some main points of the analysis, while the working paper itself is available here.
Featured image is by Greg Rosenke.