COVID-19 pandemic has led to the worst economic downturn of the last decades mainly due to measures to stop the spread of the virus. This has led to reduction in demand and production capacity. Governments worldwide adopt packages as a response to the COVID-19 crisis, with $3.5 trillion dedicated to climate protections in the agriculture, industry, energy, and transport sectors. By adapting packages that are green, boosts economic growth worldwide triggered by increased low-carbon investment.
Green Recovery
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Covid-19 has particularly impacted mobility due to a fall in transport activities. If this fall is to continue is uncertain and what the implications on policy are. However, post-COVID recovery offers a critical policy window for managing adverse effects on energy demand. Strengthening and countering policies for impacts from COVID-19 are discussed and what impact this has on mobility and homes.
Pandemics have led to an increase in inequality. After COVID-19, an additional 75 million of poor is estimated at the global level in 2020. Current policies to address inequality are inadequate; policymakers should aim to mitigate climate change and recovery from the COVID-19 crisis while protecting the most vulnerable.
COVID-19 economic recovery could slow down global warming by up to half if we make the right choices, and by taking action that tackles both crises, we can ensure that a more resilient world emerges on the other side. Doing so means cutting emissions hard and fast, investing in green technologies and industries, and refusing to bail out fossil fuel companies. High-level action would get us on track for net-zero CO2 emissions by mid-century and give us a good chance of keeping temperature rise below 1.5°C.
The largest short-term reduction in energy use and largest short-term reduction in energy use and carbon emissions in a lifetime is a result from the Covid-19 pandemic and are still in the process of being assessed. This had led to significant changes in people’s day to days lives that are unparalleled in the last few decades.
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