Global Dialogue on Responding to the COVID-19 Pandemic and Economic Crisis: Building Back Better Aligned to the SDGs and the Paris Agreement

The document argues that COVID-19 recovery should prioritize green technologies and renewables over fossil fuels to avoid stranded assets. It suggests that industry bailouts in sectors like aviation and automotive manufacturing be tied to strict green conditions and net-zero pathways. The text emphasizes the need to eliminate fossil fuel subsidies, reduce capital costs for renewables in developing countries, and implement social protections for workers displaced by the energy transition.

• The COVID-19 crisis demonstrated that renewables can maintain a stable power supply even when energy demand drops, as seen in India where the decline primarily affected coal-based power due to the lower operating costs of renewables.
• Economic recovery should categorize industries into those of the past, those in transition, and those of the future, with public support for unsustainable sectors limited to socially sound closure and retirement to avoid creating stranded assets.
• The decline in oil prices during the pandemic presents an opportunity to remove fossil fuel subsidies, which burden national budgets and often fail to help the most needy consumers; Nigeria is cited as an example of a government committing to phase out consumption subsidies.
• Bailouts for the aviation, automotive, and power and extraction sectors should be contingent on transition pathways, mandatory climate disclosure, and accountability measures such as medium-term milestones and carbon risk assessments.
• To prevent a demand crisis in green energy, Multilateral Development Banks (MDBs) and the IMF should provide financial instruments that lower the cost of capital, particularly in developing countries.
• While some countries like the U.S., Mexico, Brazil, and India are currently using policies to support fossil fuel incumbents, the recovery requires policy frameworks such as carbon pricing and streamlined licensing for renewables to make green business models sustainable.
• The energy transition must include social protections and support for workers, as renewable energy jobs may not solve all employment losses due to skill and geographic mismatches; alternatives include jobs in energy efficiency and land and forest restoration.

APA

World Resources Institute (2020). Global Dialogue on Responding to the COVID-19 Pandemic and Economic Crisis: Building Back Better Aligned to the SDGs and the Paris Agreement. https://files.wri.org/s3fs-public/uploads/bmu-wri-dialogue-3.pdf

Chicago

World Resources Institute. Global Dialogue on Responding to the COVID-19 Pandemic and Economic Crisis: Building Back Better Aligned to the SDGs and the Paris Agreement. 2020. https://files.wri.org/s3fs-public/uploads/bmu-wri-dialogue-3.pdf.

Wikipedia

{{cite report |author=World Resources Institute |title=Global Dialogue on Responding to the COVID-19 Pandemic and Economic Crisis: Building Back Better Aligned to the SDGs and the Paris Agreement |date=18 May 2020 |url=https://files.wri.org/s3fs-public/uploads/bmu-wri-dialogue-3.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{worldresourcesinstitute2020global, author = {{World Resources Institute}}, title = {{Global Dialogue on Responding to the COVID-19 Pandemic and Economic Crisis: Building Back Better Aligned to the SDGs and the Paris Agreement}}, institution = {World Resources Institute}, year = {2020}, month = may, url = {https://files.wri.org/s3fs-public/uploads/bmu-wri-dialogue-3.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }