As countries around the world plan

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  • 24 Mar 2020
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Doubling Up: Could Coronavirus Bailouts Make Economies Greener?

As countries around the world plan stimulus packages to try to prevent their economies plunging due to coronavirus shutdowns, spending on green infrastructure could help tackle two crises at once, analysts and environmental groups say. So far, spending is happening at only about a quarter of the rate needed, he said. Nicholas Stern, chairman of the London-based Grantham Research Institute on Climate Change and the Environment, said this month that the next 10 to 15 years will be "absolutely decisive" in determining whether new roads, buildings and other infrastructure are built to be climate-smart. And if governments around the world go heavily into debt to keep their economies moving now without spending in a way that also reduces climate risks, they could find themselves out of cash to deal with the next crisis, he warned.

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