bmu-wri-dialogue-3-569785fce06e7074.pdf

This briefing summarizes the third session of a Global Dialogue on responding to the COVID-19 pandemic and economic crisis, focusing on energy transitions and industry bailouts. The document outlines strategies to ensure economic recovery is aligned with the Sustainable Development Goals (SDGs) and the Paris Agreement, emphasizing the need to prioritize green technologies over fossil fuels.

• The COVID-19 crisis provides a 'postcard from the future' regarding the decline of fossil fuels, as seen in India where falling energy demand primarily affected coal-based power due to the lower operating costs of renewables. The document argues that recovery efforts should cancel shelved fossil investments and prioritize renewable and green investments as demand returns.
• Recovery support should be categorized into industries of the past, those in transition, and those of the future. Public support for unsustainable sectors should be limited to short-term transition processes for socially sound closure to avoid creating stranded assets. For industries in transition, the recovery should mandate net-zero goals and climate disclosure, with investments in alternatives for sectors like shipping and steel to reduce emissions over the next 5-10 years.
• The decline in oil prices during the pandemic offers an immediate opportunity to reduce or eliminate fossil fuel subsidies, which are often a burden on national budgets and do not always benefit the most needy consumers. Nigeria is cited as an example of a government committed to phasing out remaining consumption subsidies.
• Industry bailouts for sectors including aviation, automotive manufacturing, and power and extraction (oil, gas, and coal) must be tied to transition pathways and effective green conditions. The document notes that some backsliding on commitments has already occurred in the aviation sector and suggests using medium-term milestones and mandatory carbon risk assessment metrics to ensure accountability.
• Achieving a green transition requires addressing a demand crisis through financial support that avoids austerity and reduces the cost of capital for renewables, especially in developing countries. The IMF and MDBs are identified as essential for providing financial signals and instruments aligned with the Paris Agreement. Additionally, the document notes that the U.S., Mexico, Brazil, and India are currently adopting policies that support fossil fuel incumbents.

APA

World Resources Institute (n.d.). bmu-wri-dialogue-3-569785fce06e7074.pdf. https://files.wri.org/s3fs-public/uploads/bmu-wri-dialogue-3.pdf

Chicago

World Resources Institute. bmu-wri-dialogue-3-569785fce06e7074.pdf. n.d. https://files.wri.org/s3fs-public/uploads/bmu-wri-dialogue-3.pdf.

Wikipedia

{{cite report |author=World Resources Institute |title=bmu-wri-dialogue-3-569785fce06e7074.pdf |url=https://files.wri.org/s3fs-public/uploads/bmu-wri-dialogue-3.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{worldresourcesinstitutendbmuwridialogue3569785fce06e7074pdf, author = {{World Resources Institute}}, title = {{bmu-wri-dialogue-3-569785fce06e7074.pdf}}, institution = {World Resources Institute}, url = {https://files.wri.org/s3fs-public/uploads/bmu-wri-dialogue-3.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }