The global transition to green and fair economies

The 2020 Global Green Economy Barometer, published by the Green Economy Coalition, assesses the progress of the global shift toward green and fair economies. It argues that while there are signs of acceleration in energy transition and a growing public demand for change, the 'brown economy' still dominates due to fossil fuel subsidies, financial short-termism, and economic models that ignore natural capital. The document calls for systemic economic reform moving from extraction to restoration and from GDP-centric measures to wellbeing and nature-based accounting.

• There are significant indicators of deeper economic reform, including an accelerating energy transition. The UK has committed to net-zero carbon emissions by 2050, and China is on track to provide over 40% of the global clean energy mix by 2022. India is expected to more than double its renewable capacity by 2020, and the EU's Green Deal aims to mobilise 1 trillion euros over ten years.
• Despite green progress, the 'brown economy' remains dominant. Fossil fuel subsidies total US$ 5.2 trillion, which is nearly as much as the US$ 5-7 trillion annual investment required for the global Sustainable Development Goals (SDGs). Additionally, investment in oil and fossil fuels is projected to increase for at least the next six years.
• Current global efforts in circularity and eco-efficiency are insufficient to meet international targets. To achieve mid-century global decarbonisation, energy intensity must decline by 4% to 10% annually, but it is currently declining at only approximately 0.4% per year.
• There is a growing global public demand for economic transformation, particularly among youth. A survey of 33,000 people across 27 countries found that only 20% feel the current economic system works for them. Furthermore, 66% of 30,000 consumers surveyed across 60 countries stated they would pay more for sustainable goods and services.
• Mainstream economic analysis and regulatory systems fail to account for nature and social capital, leaving economies blind to their dependency on natural services. Some nations, specifically New Zealand, Iceland, and Scotland, are leading the shift by adopting wellbeing budgets and alternative progress measures.
• The global financial and political landscape is marked by instability and inequality. Populist leaders now run the world's largest democracies, which represent 28% of the global population. Additionally, 40% of profits from multinational companies are artificially shifted to tax havens.

APA

Green Economy Coalition (2020). The global transition to green and fair economies. https://www.greeneconomycoalition.org/assets/reports/GEC-Reports/GEC-Barometer-2020-WEB-EXECSUM.pdf

Chicago

Green Economy Coalition. The global transition to green and fair economies. 2020. https://www.greeneconomycoalition.org/assets/reports/GEC-Reports/GEC-Barometer-2020-WEB-EXECSUM.pdf.

Wikipedia

{{cite report |author=Green Economy Coalition |title=The global transition to green and fair economies |date=2020 |url=https://www.greeneconomycoalition.org/assets/reports/GEC-Reports/GEC-Barometer-2020-WEB-EXECSUM.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{greeneconomycoalition2020global, author = {{Green Economy Coalition}}, title = {{The global transition to green and fair economies}}, institution = {Green Economy Coalition}, year = {2020}, url = {https://www.greeneconomycoalition.org/assets/reports/GEC-Reports/GEC-Barometer-2020-WEB-EXECSUM.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }