The COVID-19 health and economic crisis is converging with the increasingly evident climate and biodiversity crises. Global warming and ecosystem deterioration are laying the ground for future upheaval of society. While the recovery measures must address the immediate health, social and economic urgency, they must support the development of a resilient and sustainable economy, in line with the Paris Climate Agreement and the European Green Deal.
Business as usual is not an option, and economy-wide untargeted measures would risk resuscitating dying and polluting industries and technologies that have no room in our future carbon-neutral economy.
Instead, the economic recovery measures must support ‘future-proofing’ companies through a rapid shift of their business models towards decarbonisation, thereby ensuring a much higher return on public investment.