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China and Japan lag Europe in 'green recovery' stimulus

Study says Asia's pandemic economic policies to negatively affect climate

European countries are accelerating investment in offshore wind power during the coronavirus pandemic. (Source photo by Reuters)

TOKYO -- Countries around the world are increasing fiscal measures to address the coronavirus pandemic while emphasizing efforts to reduce carbon emissions. But while European Union stimulus will have positively affect decarbonization, spending in Asian countries such as China and Japan is set to bring about a negative impact, a study says.

Global fiscal spending and financial support to cope with the COVID-19 public health crisis total $13 trillion, according to the International Monetary Fund. While that money is primarily spent to protect jobs and support companies experiencing cash crunches, differences have appeared in "green recovery" stimuli that link decarbonization with growth.

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