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The World Resources Institute (WRI) argues that G20 nations have failed to make their COVID-19 recovery spending environmentally sustainable, investing $262 billion in fossil fuels compared to $67 billion in clean energy. To address this, WRI introduces a typology of five policy levers—monetary policy, financial and real-economy policies and regulations, fiscal policy and budget support, public finance, and information instruments—to guide governments toward Paris-aligned investments. Analysis of recovery packages between March 1, 2020, and January 31, 2021, reveals a preference for 'business-as-usual' interventions and a critical lack of investment in climate adaptation and resilience.

The IEJ criticizes the South African National Treasury's 'fiscal consolidation' approach, arguing that budget cuts during a recession are procyclical and retard economic recovery. The document asserts that there is significant fiscal space due to tax overruns and IMF funding, which should be used for a Universal Basic Income Grant (UBIG) and job creation initiatives. It warns that prioritizing debt reduction over public expenditure has led to real declines in spending for education and social grants, which undermines human capital and socio-economic rights.

The document examines the trade-offs between universal and targeted Basic Income Guarantees (BIG) for South Africans aged 18-59. It argues that targeting creates administrative burdens, high exclusion errors, and social stigma, whereas a Universal Basic Income Guarantee (UBIG) ensures broader coverage and social cohesion. The brief contends that a UBIG is fiscally feasible through progressive taxation, such as a Social Security Tax, and provides superior poverty reduction by allowing households to pool resources. It specifically critiques the use of employment status or household-level targeting, noting that the latter can exacerbate gender inequalities. The brief recommends a universal BIG as the most efficient path to economic recovery and social stability.

The Institute for Economic Justice (IEJ) critiques the South African National Treasury's approach to debt reduction through expenditure cuts, asserting that such austerity is economically flawed and violates constitutional and international human rights obligations. The report highlights the negative impacts of budget cuts on education and healthcare, noting that the 2021 Budget's non-interest spending is projected to contract at an annual real average rate of 5.2 per cent. To counter this, the IEJ suggests utilizing additional fiscal space from SARS revenue windfalls and IMF funding, implementing progressive taxes such as a wealth tax and social security tax, and launching a GDP-linked stimulus package. The document advocates for a Universal Basic Income Guarantee (UBIG) and the conduct of gendered human rights impact assessments to guide fiscal policy.

The report evaluates nine financing options for a Universal Basic Income Guarantee (UBIG) in South Africa, focusing on progressive tax measures. Key proposals include a Social Security Tax, a Resource Rent Tax, and the selective removal of tax credits for high earners. The analysis finds that a UBIG aligned with the Food Poverty Line (FPL) for 60% of the population could be fully financed by these measures. The report also models the impact of different implementation speeds on South Africa's national debt and primary balance, suggesting that the FPL grant is the most fiscally feasible over the medium term.

The report investigates the potential for municipal green bonds to support Indonesia's goal of 23% renewable energy by 2025. While provincial governments in Java and Bali generally meet fiscal eligibility criteria, no municipal bonds have been successfully issued as of 2021. Key barriers include complex bureaucratic procedures, a lack of profitable project pipelines, and a conservative investor market primarily motivated by credit ratings and commercial returns rather than green mandates. The authors recommend simplifying issuance requirements, providing clearer central government policy signals, and targeting quasi-government institutions as initial investors.

The 2021 report on the state of urban climate finance reveals a significant gap between current investments and the trillions of dollars needed for urban climate action. While global urban climate funding averaged 384 billion USD per year in 2017/2018, these flows are heavily concentrated in OECD countries and China, leaving rapidly urbanizing areas in Sub-Saharan Africa and South Asia severely underfunded. The report emphasizes that mitigation efforts, particularly in transport and buildings, dominate current spending, while adaptation and resilience receive less than 10% of funding. To bridge this gap, the document outlines 'enabling conditions' across national, city, and climate-specific levels, urging a systemic approach to align planning, budgeting, and policy to attract both public and private investment.

The document critiques orthodox macroeconomic policies for ignoring social reproduction and gendered power dynamics, particularly in the context of the COVID-19 pandemic in Africa. It argues that neoliberal austerity and financialisation have undermined public services and increased the burden of unpaid care on women. The authors propose a recovery based on a 'feminist green economy,' increased fiscal space through progressive taxation and debt cancellation, and a shift toward a social reproductive economy that prioritises basic income and universal access to essential services.

The document contends that Africa's historical 'jobless growth' is due to a dependence on primary commodities and a lack of structural transformation. It proposes a shift from 'stabilization' to 'transformation' by coordinating fiscal and monetary policies with sectoral and labour market interventions. Key recommendations include increasing public investment in the care economy and infrastructure, implementing expenditure-switching methods to reduce import reliance, adopting progressive taxation, and establishing national minimum wages to boost domestic demand and productivity.

The report examines the impact of COVID-19 on the energy sectors of South Korea and Indonesia and evaluates their fiscal recovery programs. South Korea's Green New Deal (GND) explicitly integrates climate goals with economic recovery, focusing on green infrastructure and low-carbon energy. In contrast, Indonesia's National Economic Recovery (PEN) program primarily targets short-term health and social stability, with only 0.9% of its budget allocated to energy transition. The study identifies structural barriers in both nations—such as South Korea's centralized market and Indonesia's high financing costs—and recommends that future stimulus include specific emission targets and incentives to attract private investment.

In 2014, Egypt implemented wide-ranging fossil fuel subsidy reforms to address a budget deficit and economic instability. The government raised prices for gasoline (78%), diesel (64%), and kerosene (64%), while introducing social protections such as expanded food subsidies, increased public-sector minimum wages, and expanded social security pensions. While the reforms reduced energy subsidy spending by 29% in the first quarter of the 2014-2015 fiscal year and were supported by a broad political consensus, the document notes that compensatory measures did not fully offset costs for the poorest households due to a lack of targeted delivery mechanisms like a unified household registry.

The document analyzes the fiscal challenges facing Indonesia, specifically its low tax-to-GDP ratio and the burden of fuel subsidies. It uses India's experience—where gasoline and diesel subsidies were phased out and replaced by flexible excise duties—as a blueprint for Indonesia. The authors recommend that Indonesia implement a fixed fuel tax to raise revenue for social programs and pandemic recovery, suggesting that such a measure is more politically viable in the short term than immediate subsidy elimination.

The Budget Justice Coalition (BJC) contends that the 2021 fiscal framework implements austerity measures that reduce government services for the poor, particularly women, and increase economic hardship. The BJC calls on the Select and Standing Committees on Finance to determine if this framework contradicts the constitutional requirement for the state to allocate maximum possible resources toward fundamental human rights and environmental sustainability.

The document examines the OECD's two-pillar digital tax reform, arguing that while named 'digital', its scope extends to the mining sector. It analyzes the exclusion of non-renewable resources from 'Amount A' of Pillar One, the inadequacy of 'Amount B' for mineral marketing, and the risks Pillar Two poses to developing nations, such as potential tax leakage to headquarters countries during cost-recovery periods.

The Institute for Economic Justice (IEJ) reports that only about one-third of South Africa's R500-billion Covid-19 rescue package has materialised, citing a systematic failure in implementation and the impact of austerity measures. The statement asserts that economic recovery is impossible without first providing comprehensive rescue and relief, particularly as unemployment has reached 43% (expanded definition). The IEJ recommends increasing income support, fully allocating the R100-billion job protection fund, expanding public employment programmes, and increasing taxes on wealthy individuals to fund these measures. It also highlights corruption, noting that the Special Investigating Unit was investigating R10.3-billion in spending on Covid-19 goods and services as of February 2021.

The report argues that existing village development indices in Indonesia fail to adequately measure or reward environmental performance. To address this, the Climate Policy Initiative (CPI) proposes the Indeks Desa Membangun Plus (IDM+), which adds 10 ecological indicators to the existing Indeks Desa Membangun (IDM). The report suggests using IDM+ as a basis for Ecological Fiscal Transfers (EFT), specifically through a mixed fiscal instrument approach in Berau Regency, East Kalimantan. This approach combines performance-based incentives via the Alokasi Dana Desa (ADD) with affirmative action funding for low-performing villages, potentially utilizing untapped reforestation funds (DBH DR).

The document examines South Africa's strategy to mobilize R1 trillion in private investment through an Infrastructure Fund to address a widening infrastructure deficit. It analyzes three primary de-risking instruments: blended finance, the conversion of infrastructure into tradeable asset classes, and public-private partnerships (PPPs). The author argues that these mechanisms often shift excessive risk to the state through contingent liabilities and high transaction costs, while prioritizing 'bankable' economic projects over essential social infrastructure in poor and rural areas. The paper concludes that the current focus on private capital overplays benefits and underplays the risks of public-private arrangements, recommending a governance framework that prioritizes human rights and sustainable development over profit maximization.

The document argues that the South African government's pursuit of fiscal sustainability through austerity—including cuts to health, education, and social grants—violates international human rights obligations. It contends that South Africa's debt is not as dire as claimed, given its high levels of domestically-denominated debt and access to capital markets. The authors advocate for a rights-based definition of debt sustainability, a shift toward progressive taxation (such as a wealth tax), and a global debt deal involving comprehensive cancellation for developing nations.

The report analyzes how the COVID-19 pandemic exacerbated existing disparities in health, wealth, and power, specifically highlighting 'vaccine apartheid' and the failure of multi-stakeholder governance. It critiques the reliance on private sector solutions for public crises and advocates for transformative policies, including the waiver of intellectual property rights for vaccines, progressive tax reforms, and the strengthening of universal public services to ensure a just recovery.

The document analyzes the economic dependence of Colombia and its producing regions on coal, highlighting the vulnerability of public finances to declining international demand and the COVID-19 pandemic. It examines the General Royalty System (SGR) and projects that despite recent legal reforms to increase direct allocations to producing regions, the downward trend in coal production will lead to significant losses in royalty revenues for departments like Cesar and La Guajira by 2030.