Get the latest market trends in your inbox

Stay on top of the latest market trends and economic insights with the Axios Markets newsletter. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Minneapolis-St. Paul

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa-St. Petersburg news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Illustration: Sarah Grillo/Axios

A new research initiative will track the carbon emissions effects of massive economic recovery packages that governments worldwide are crafting in response to the COVID-19 pandemic.

Driving the news: Johns Hopkins University yesterday announced plans for rigorous "climate impact assessments" of the efforts as part of a much wider set of pandemic-related research grants.

How it works: Researchers plan to track how stimulus funds are spent and model the avoided emissions that result from the investments.

  • "We are planning to make this tracker available on a website, so that everyone can see how their country’s stimulus packages stack up and hope that other academics will use this data for subsequent projects," JHU's Jonas Nahm, the principal researcher, tells Axios.

The big picture: The project comes amid calls for governments to ensure recovery packages help bolster low-carbon energy tech and industries — and uncertainty about whether this will happen.

  • Officials from the International Energy Agency, the International Monetary Fund, the European Union, the United Nations and elsewhere have called for green recovery packages.

Why it matters: A new paper in the Oxford Review of Economic Policy gets to the environmental stakes of the policy response.

  • "The COVID-19 crisis is likely to have dramatic consequences for progress on climate change. Imminent fiscal recovery packages could entrench or partly displace the current fossil-fuel-intensive economic system," the analysis states.

What they're saying: Nahm similarly says response plans could be an inflection point.

  • "The economic recovery is an opportunity for us to shift the global economy on a more sustainable track, but only if we use stimulus funds for investments that yield long-term structural emissions reductions and avoid those that will cause a rebound in global emissions," said the assistant professor of energy, resources, and environment.
  • Nahm also said in our email exchange that the project is born in part from "frustration over the lack of good data on the emissions impact of the great financial crisis in 2009."

What we don't know: The jury's still out on whether governments' forthcoming economic responses will help emissions-cutting efforts.

  • The Oxford Review paper found that across the G20, the vast majority of the 300-plus substantial policies approved thus far have been "rescue" measures, as opposed to "recovery" efforts that will influence emissions.
  • They conclude that 92% were neither "green" nor "brown" but instead are "colorless," i.e. they "maintain the status quo."

Where it stands: Early signs are mixed. The big new French aid package for Air France-KLM includes restrictions on shorter flights to avoid competition with more climate-friendly high-speed rail, per Bloomberg and other outlets.

  • But in the U.S., Capitol Hill Republicans opposed a Democratic push to tether airline aid to emissions mandates, and the climate provisions were dropped from the huge package approved in late March.

There's no shortage of ideas for how policymakers could construct climate-friendly economic rescue plans in the U.S. and worldwide.

  • Worth noting: A suite of think tanks, industry and civil society groups are publishing recommendations at a rapid clip in recent weeks.

What's new: The Energy Transitions Commission — execs from energy, industrial and banking heavyweights — just floated a 7-pillar platform around renewables, electric cars, "green buildings" and more.

  • It calls for policies ranging from direct investment to private sector incentives to mandates that tether aid to distressed industries to climate commitments.

Go deeper: Coronavirus leads to historic drop in carbon emissions

Go deeper

Aug 15, 2020 - Health

FDA releases first-ever list of medical supplies in shortage

A medical worker handling a coronavirus test in Charlestown, Massachusetts, on Aug. 11. Photo: Matt Stone/ MediaNews Group/Boston Herald

The Food and Drug Administration on Friday released its first-ever list of medical devices needed to respond to the coronavirus that are in short supply.

Why it matters: The list includes surgical gowns, gloves, masks, certain ventilators and testing supplies that medical workers require to effectively respond to the pandemic, which has infected more than 5.3 million people in the U.S. to date, according to Johns Hopkins University.

Aug 14, 2020 - Health

CDC: Those who recover from COVID-19 have 3-month window for safe mingling

Test tubes with blood samples of donors that have developed antibodies against the coronavirus. Photo: Robin Utrecht/SOPA Images/LightRocket via Getty Images

The Centers for Disease Control and Prevention updated its guidance Friday evening suggesting that those who test positive for COVID-19 and recover "do not need to quarantine or get tested again for up to 3 months as long as they do not develop symptoms again."

What they're saying: "...this science does not imply a person is immune to reinfection with SARS-CoV-2, the virus that causes COVID-19, in the 3 months following infection. The latest data simply suggests that retesting someone in the 3 months following initial infection is not necessary unless that person is exhibiting the symptoms of COVID-19 and the symptoms cannot be associated with another illness."

Aug 14, 2020 - World

Spain introduces new coronavirus restrictions as cases surge

Madrid's health minister Enrique Ruiz Escudero. Photo: Jesus Hellin/ Europa Press via Getty Images

Spain's government announced Friday that it will shut down nightclubs, ban public smoking and restrict nursing home visits as coronavirus cases climb in the country, per the AP.

The state of play: Spain's daily cases have almost reached the highs seen in March and April when the country was one of Europe's worst-hit, per Johns Hopkins data. So far during this surge, the nation's reported deaths are nowhere near the rate seen in the spring.