For the first time in history, a global crisis has forced the confinement of 3 billion people, stopped 300 million children from attending school, and caused millions to lose their jobs across the world in record time. The damage, however, is amplified when we think of tomorrow’s world; how we manage our exit from this crisis will determine how much we are impacted by the drastic losses we have suffered.
Commentators from all fields are already talking about an oncoming recession but, contrary to all other economic crises, we are still in the midst of incertitude; we are unaware of its total magnitude and even of how long this crisis will last. It is clear, however, that the longer this last, the more painful the awakening will be.
In order to future-proof our recovery, we will need to instigate fundamental changes to our economies that will contribute to a sustainable recovery; early action on a longer-term agenda to address climate change, avoid habitat loss and fragmentation, reverse the loss of biodiversity, reduce pollution and improve waste management and infrastructure will be essential if we are to emerge from this crisis stronger than when we entered it.
Beyond direct health responses, fiscal stimulus packages provide an opportunity for initiating a transformational and low-carbon recovery with the creation of green jobs. Several high profile reports, including the recent publication from the think-tank I4CE Institute for Climate Economics, all conclude that stimulus packages that hold climate principles at the core of their roll-out will result in stronger economic recovery post-crisis, making national and international economic systems more resilient to future shocks without necessitating a reduction of our commitments to global climate goals.
The United Nations Environment Programme (UNEP) have stated that large-scale fiscal stimulus packages are an opportunity to set economies and societies on a more resilient path in line with the 2030 Sustainable Development Agenda, meaning that there is an opportunity to ensure that our recovery is environmentally friendly but also contributes to reducing social and economic inequalities in our societies. Governments must internalise these principles in order to emerge from crises with solutions that ensure justice for all. The COVID-19 virus has ravaged our communities and economies for months now; as the world recovers, we take the opportunity to insist on low-carbon and fairer economic models.
Climate action is thus a viable answer to the demand for resilience that is likely to emerge across the world as our economies open up again.
