The international study led by Oxford University environmental economist Cameron Hepburn noted that policy decisions over the next six months will determine whether the pandemic becomes a turning point on climate. “With major economies drawing up enormous economic packages to cushion the shock of the coronavirus pandemic, many investors, politicians, and businesses see a unique opportunity to drive a shift to a low-carbon future,” Reuters says. “Think tanks and investor groups have also been making the case for tailoring recoveries to accelerate a transition away from fossil fuels.”

Based on a review of 700 economic stimulus packages from the last economic crash in 2008 and a survey of 231 experts from 53 countries, the study “suggested that green projects such as boosting renewable energy or energy efficiency create more jobs, deliver higher short-term returns, and lead to increased long-term cost savings relative to traditional stimulus measures,” the news agency adds.