New approach needed for modeling Green Recovery Programs

What is it about?

The Covid-19 pandemic and climate change were and are worldwide economic crises. The authors of this article claim that both technology and behavioral changes are needed to solve these crises. They further state that ‘green’ low-carbon solutions are our best bet for short-term economic recovery. These measures are also likely to place our world on a sustainable path towards long-term economic growth. Climate change can have devastating effects on our way of life. Fortunately, the technologies to lower greenhouse gas emissions already exist. However, to be effective, these green solutions must become freely available in homes and workplaces everywhere.

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Photo by Bill Mead on Unsplash

Photo by Bill Mead on Unsplash

Why is it important?

As the world returned to normal after the Covid-19 pandemic, there were calls for a green recovery that would ‘build back better’. Governments had to increase spending to restart their economy. The logic was that they should have used this spending to benefit everyone, by improving the environment. However, very little of the spending on economic recovery was green. This was clearly a missed opportunity. The evidence shows that green measures are more likely to provide long-term economic growth. KEY TAKEAWAY: Economic health and the environment go together. Framing the problem differently would have made short-term economic recovery more likely after the Covid-19 pandemic. It would also have delivered long-term, sustainable economic growth. The authors conclude that the global economy can be shielded from the economic effects of climate change by pursuing net zero and a 1.5 °C pathway. This research relates to the following Sustainable Development Goals: •SDG 13: Climate Action •SDG 8: Decent Work and Economic Growth •SDG 9: Industry, Innovation, and Infrastructure •SDG 7: Affordable and Clean Energy