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Nicoletta Batini, Mario di Serio, Matteo Fragetta, and Mr. Giovanni Melina
This paper provides estimates of output multipliers for spending in clean energy and biodiversity conservation, as well as for spending on non-ecofriendly energy and land use activities. Using a new international dataset, we find that every dollar spent on key carbon-neutral or carbon-sink activities can generate more than a dollar’s worth of economic activity. Although not all green and non-ecofriendly expenditures in the dataset are strictly comparable due to data limitations, estimated multipliers associated with spending on renewable and fossil fuel energy investment are comparable, and the former (1.1-1.5) are larger than the latter (0.5-0.6) with over 90 percent probability. These findings survive several robustness checks and lend support to bottom-up analyses arguing that stabilizing climate and reversing biodiversity loss are not at odds with continuing economic advances.
Nicoletta Batini, Mario di Serio, Matteo Fragetta, and Mr. Giovanni Melina

spending, nuclear energy, biodiversity, nature-based solutions, agricultural subsidies, fossil fuels. Authors’ E-Mail Address: nbatini@imf.org ; mdiserio@unisa.it ; mfragetta@unisa.it ; gmelina@imf.org ; aw845@cam.ac.uk Contents Abstract I. Introduction II. Why More Is Needed on Clean Energy and Conservation III. Data on Green and Non-eco-friendly Spending A. Green Energy Spending Data B. Non-Eco-Friendly Energy Spending Data C. Green Land Use Spending Data D. Non-Eco-Friendly Land Use Spending Data IV. Methodology A. Empirical

Mr. Serhan Cevik

to the quality of buildings (iii) issuing state-contingent bonds to provide debt service relief for extreme events; and (iv) raising access to parametric insurance under the CCRIF against less frequent but larger natural disasters. Nature-based solutions are essential in the fight against climate change and could also contribute to the development of ecotourism. There is growing recognition that climate change is causing biodiversity loss across the world, while nature has a fundamental role in climate change mitigation and adaptation ( IPBES, 2019 ). In view of

Mr. Serhan Cevik

. Well-designed policy measures could also have sustained expansionary effects through higher growth in employment and wages and lower migration, which tends to occur in countries that are more vulnerable to climate-related natural disasters. Nature-based solutions are essential in the fight against climate change and could also contribute to the development of new business opportunities . There is growing recognition that climate change is causing biodiversity loss across the world, while nature has a fundamental role in climate change mitigation and adaptation

Mr. Serhan Cevik
This paper investigates the connection between climate change and energy security in Europe and provides empirical evidence that these issues are the two faces of the same coin. Using a panel of 39 countries in Europe over the period 1980–2019, the empirical analysis presented in this paper indicates that increasing the share of nuclear, renewables, and other non-hydrocarbon energy and improving energy efficiency could lead to a significant reduction in carbon emissions and improve energy security throughout Europe. Accordingly, policies and reforms aimed at shifting away from hydrocarbons and increasing energy efficiency in distribution and consumption are key to mitigating climate change, reducing energy dependence, and minimizing exposure to energy price volatility.
Mr. Ralph Chami, Connel Fullenkamp, Mr. Thomas F. Cosimano, and Fabio Berzaghi

. References: Berzaghi , F.M. , M. Longo , M. Ciais , and others. 2019 . “ Carbon Stocks in Central African Forests Enhanced by Elephant Disturbance .” Nature Geoscience 12 : 725 – 29 . Chami , R. , T. Cosimano , C. Fullenkamp , and S. Oztosun . 2019 . “ Nature’s Solution to Climate Change .” Finance and Development 56 ( 4 ): 34 – 38 . Chami , R. , C. Fullenkamp , F. Berzaghi , S. Español-Jiménez , M. Marcondes , and J. Palazzo . 2020 . “ On Valuing Nature-Based Solutions to Climate Change: A Framework

International Monetary Fund

-integrity market for carbon credits : Carbon credits, which are generated by projects that reduce or remove emissions, such as afforestation, allow buyers to compensate for or neutralize any continuing emissions they have while moving to net zero. The conditions for this market are coming into place. Over 1,600 companies have committed to science-based targets. As they achieve them, companies need an appropriate mix of emissions reductions and credible carbon credits to neutralize and compensate for their ongoing emissions, including nature‐based solutions such as reforestation

International Monetary Fund. Middle East and Central Asia Dept.

Change Act in 2017. It establishes (i) the cross-ministerial Pakistan Climate Change Council responsible for the country’s overall climate strategy; and (ii) the Pakistan Climate Change Authority, which is tasked with coordinating climate policy development and implementation, in addition to designing and establishing a national registry and database on GHG emissions. Stepping up nature-based solutions (NBS) . Pakistan’s nationally-financed flagship project is the Ten Billion Tree Tsunami Program (TBTTP), which is not only an initiative for large reforestation with