The U.S. has spent the biggest share of its GDP on discretionary stimulus spending compared to other major economies, but it’s spent the smallest share on clean energy, per a new analysis from consultancy Rhodium Group.
Why it matters: To what degree the world invests in clean-energy technologies as it recovers from the pandemic-induced recession could go a long way toward reaching climate goals.
By the numbers:
- The U.S. has spent roughly 12% of its GDP on discretionary stimulus spending, but it’s spent the smallest share on green spending, at just 1.1%.
- That’s compared to the European Union, which has spent so far 10.4% of its GDP on discretionary stimulus but more than 20% is going toward clean energy.