How might the implementation of a Sustainability Policy influencethe resilience of economic growth A Case of EU Taxonomy for SustainableActivities in Germany, Spain, and Italy
DOI:
https://doi.org/10.61173/7p594015Keywords:
EU Taxonomy for Sustainable Activities, COVID-19, economic resilience, Sustainability Policy, policy synergiesAbstract
This paper examines how Sustainability Policy influences the resilience of economic growth in Germany, Spain, and Italy. By analyzing the Gross Domestic Product from 20217 to 2022, this paper finds that the three countries experienced economic growth after the pandemic. However, they have economic growth resilience of due to the amount of green investment in small and medium enterprises. The more enterprises and investments in the country, the more economic strength there is to resist the challenges of COVID-19 while contributing to the economic recovery. Interestingly, the analysis finds that policy synergies are linked to the strength of economic growth. This study emphasizes that governments need to align their policies with the EU Taxonomy to ensure their economic growth is both resilient and sustainable.
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