Post Covid 19 Green Recovery Requires That We Put our Investment and Processes Right.
The COVID-19 pandemic has brought profound social, political, economic, and environmental challenges to the world.
Many world economies have been thrown into uncharted waters. The normal rules for policy no longer apply.
The pandemic arrived at a time when wildfires, high temperatures, floods, and storms amplified human suffering.
These challenges call for a powerful response to COVID-19 that addresses social and economic development, climate change, and biodiversity together, offering an opportunity to bring transformational change to the structure and functioning of the global economy.
The extensive safety restrictions imposed globally due to the COVID-19 pandemic have brought significant changes to almost all environmental parameters. The largest pandemic of the century has left an indelible mark on all aspects of human life and the environment.
As the governments, the public, and the media remain focused on a single issue, discussions of a green recovery in the aftermath of COVID-19 outbreak continue to gain traction. The political framing of major public investments is shifting, with support from electorates for a more environmentally friendly approach.
However, we will have to wait to see if the policies deliver in reality; it is encouraging that some long-overdue initiatives are being accelerated.
Going by the Former U.N. Special Rapporteur Philip Alston’s warning about the misplaced optimism surrounding the 2030 Agenda for Sustainable Development is a reminder that progress does not happen by accident.
We therefore need to do better in terms of policy making and implementation. But most important we must be wary of assuming that the coronavirus will automatically bring us to our senses, providing a course correction toward greener and more just economies.
As Katja Funke, Public Financial Management Expert,IMF puts it, “There is need for a continued monitoring whether at international level keeping cross country comparability of what countries are doing and building the capacity at country level where countries can assess their polices at the planning and the implementation level for them to choose the right policies.”
The post-coronavirus recovery will only be green and equitable if we can build international consensus and coordination. “Green recovery” must be more than a ‘buzz’ word.
It is important that as these opportunities gain new attention and funding, the greening concepts such as circularity must be clearly defined and potential impacts are assessed and measured. If not, the rush for countries, companies, and even NGOs to shine their green credentials risks misguided investments and, worse yet, “green washing.”
Lastly, we need to work out how to bridge the gap between good practice on the ground and investments made by multilateral or international actors. It is important that the financial and technical backing is available to scale up these sorts of initiatives.
We possess rich opportunity ahead of us, but a green recovery might not happen by a chance. Investments and processes must be put right to seize the moment that is coming.
