Thread by @HectorPollitt

I see discussion has started about possible ‘green’ recovery plans once we are passed the worst of #COVID19. What can we learn from @CambridgeEcon analysis of green recovery plans after the 2008 financial crisis? (1/8)
ec.europa.eu/environment/en…

First, the recovery plans weren’t very green. Even ones that were it was often for non-green reasons (e.g. building green stuff to help the cement sector). There is definitely scope for more ambition. (2/8)

The most ‘green’ common policies were 1) #energyefficiency, 2) vehicle scrappage schemes (not green), 3) investment in #renewables and 4) support for low-carbon innovation.

Looking back, funny to think how much attention car companies got. (3/8)

Unfortunately, there are trade-offs – policies with environmental benefits take longer to implement and therefore give a smaller short-term stimulus. However, those with environmental benefits may also have long-term economic benefits. A mix would be best. (4/8)

Post 2008 crisis, investment was sorely needed. This crisis is a bit different, but investment could lead us on a path back to growth. However, to make the most of it, plans need to be made (i.e. make projects ‘shovel-ready’). Otherwise it could come too late. (5/8)

While uncertainty remains, financial incentives to get the private sector to invest will have limited impact – unless very generous and well communicated (as car scrappage was). But the public sector will need to lead the way here. (6/8)

The key issue is to find projects that will both provide a quick economic stimulus and deliver longer-term economic and environmental benefits. A #GreenNewDeal could potentially do exactly that – but only if the govt could get it off the ground quickly. (7/8)

While managing COVID, we do have some time to work this out. Small-scale measures like boosting home efficiency could work. Can training be delivered during lockdown?

I hope we don’t have to write the same report again in three years time... (8/8)