- Governments around the world are using green subsidies to support the transition to a cleaner economy, but these subsidies should be carefully targeted and not discriminate between firms.
- There is a risk of a harmful subsidy race between the world’s largest economies, which could undermine the level playing field in global trade and impose large fiscal costs.
- Europe is discussing a Green Deal industrial plan, which should be developed in coordination with other countries to develop a common, inclusive multilateral approach to stopping climate change.
- The EU should focus any subsidies on activities where the interventions might have the largest climate benefits and preserve the integrity of its single market.
- The green transition will require workers to have the right mix of skills and be able to move from shrinking industries to growing ones.
Source IMF
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