Reflections on a Public Policy Approach to a Green, Inclusive and Resilient Recovery

The Covid-19 pandemic and the climate change crisis represent existential threats. One is manifesting itself aggressively and wreaking havoc directly by way of high infection rates and daily lives lost. The other follows the path of the silent killer generating a sense of near irreversibility in GHG emissions and the known consequences of global temperature rise on species, habitats, and our way of life. Public policy is at the heart of solutions to these human induced threats.  

To successfully address this challenge will arguably require adopting a public policy approach building on four integrated themes. The first is on the importance of integrating strategic decision making with quality infrastructure investment to set the foundations for a green, inclusive, and resilient recovery. The second is to identify the strategic enablers to address the challenge such as technology, incentivizing behavioral change, and to better understand concepts such as stranded assets, shadow pricing and nature-based accounting. The third is to take stock of the importance of mobilizing funding, technology transfers and awareness raising as part of the grand bargain to support Developing Countries (DCs) build more ambitious nationally determined contributions (NDCs) to deliver their net 0 targets. Finally, to better manage climate investment and climate risks it is paramount to invest in digital solutions as part of the technology transfer and avoid deferring today’s problems to tomorrow.