posted on 2023-04-06, 15:41authored byTheodoros Zachariadis, Elias Giannakis, Constantinos Taliotis, Marios Karmellos, Nestor Fylaktos, Mark HowellsMark Howells, Will Blyth, Stephane Hallegatte
As current production and consumption patterns exceed planetary boundaries, many leaders have stressed the need to adopt green economic stimulus policies in the aftermath of the COVID-19 pandemic. This paper provides an integrated multi-stakeholder framework to design an economic recovery strategy aligned with climate stabilisation objectives. We first employ quantitative energy and economic models, and then a multi-criteria decision process in which we engage social actors from government, enterprises and civil society. As a case study, we select green recovery measures that are relevant for a European Union country and assess their appropriateness with numerous criteria related to climate resilience and socio-economic sustainability. Results highlight trade-offs between immediate and long-run effects, economic and environmental objectives, and expert evidence and societal priorities. Importantly, we find that a ‘return-to-normal’ economic stimulus is environmentally unsustainable and economically inferior to most green recovery schemes.
Funding
Research and Innovation Foundation of Cyprus, under the Funding Scheme “RESTART 2016–2020 Programmes for Research, Technological Development and Innovation”, co-funded by the European Regional Development Fund and the Republic of Cyprus, in the frame of the project “Supporting the Economic Recovery of Cyprus with a View to Energy and Climate Policy” (grant no. CONCEPT-COVID/0420/0008)
FCDO Climate Compatible Growth Program of the UK government
This is an Open Access Article. It is published by Elsevier under the Creative Commons Attribution 4.0 International Licence (CC BY). Full details of this licence are available at: http://creativecommons.org/licenses/by/4.0/