As the world convalesces from the COVID-19 pandemic, we must continue ambitious action on climate change. We have an opportunity to rebuild our world for a more inclusive, more resilient, more sustainable future. This includes mainstreaming climate change considerations into the entire finance ecosystem by targeting both short-term economic recovery and long-term structural changes aligned with sustainable, inclusive growth and strengthening society’s resilience.
CPI, working with the UK and German governments, has convened several high-level discussions involving key decision makers, thought leaders, and experts from the worlds of diplomacy, regulation and policy, as well as public and private finance, that have demonstrated that finance is the cornerstone for making this happen. We will continue to work in this area to help bridge economic action with the key need for a green, resilient recovery globally.
With the dawn of COVID-19, there is an immediate need for policymakers to create an investment environment that nudges capital flow towards decentralized renewable energy.
Indonesia has a unique opportunity to learn from past mistakes and build a recovery that improves the country’s chances for economic stability and growth.
India’s lightbulb moment: Not using this crisis for meaningful energy sector reform would be a waste
The trend of low power demand, now furthered in the post-COVID economy, and increased RE generation, will continue to put a ceiling on the PLF of the thermal fleet.
Sharing the burden of combating the coronavirus could set an inspiring precedent for a just transition to combat climate breakdown—which will have fare more dire economic and health impacts than the current pandemic. If the current systemic shock of the coronavirus crisis jolts countries into action, maybe then they can create a truly European Green Deal.
Like the coronavirus, climate change will affect everyone globally, albeit on a scale of decades and centuries rather than months and years. It too will not distinguish between caste, color, creed, religion, or national boundaries, and like the coronavirus, climate change will have its greatest impact on the poor and most vulnerable.
A deep economic crisis is expected in the wake of the COVID-19 pandemic health crisis. We applaud the quick action of governments in supporting health workers and institutions, the business sector, and different communities. However, if taxpayer-funded bailouts are not implemented properly we can worsen another crisis: global climate change.
As we move forward past this crisis, policymakers should have resilience in the front of their minds. There are some practical steps that can be taken in our policy response not only to enable us to boost green growth and reduce greenhouse gas emissions but also to create a more resilient financial system.