"Today, we have the historic opportunity to set the course for sustainable growth. But public budgets are limited. Therefore, we must mobilize private capital to facilitate economic recovery and meet social goals," says Ludovic Subran, Chief Economist of Allianz. "A clear link between climate targets and support through investment programs will result in more resilient structures, long-term competitiveness and higher employment."
According to a report published today by Allianz Research and WWF Germany, stimulus measures that only focus on short-term economic recovery and neglect social and environmental impacts will result in avoidable deadweight losses for economies in the coming decades. The authors point to effective steering instruments and levers which support a rapid economic recovery and simultaneously contribute to climate protection. This also applies to relief measures already granted; with appropriate regulatory extensions, the transformation towards a low-emission economy could be significantly accelerated.