COVID-19 and its potential silver lining

The Covid-19 pandemic forever changed our perception of how our societies function and are interconnected. As we digressed into our homes, we saw the rebirth of nature within human populated areas, such as the presence of wild animals in our empty streets. We observed the environmental harm we caused to our own world only when locked inside. Damage which was exemplified by our dependence upon fossil fuels which exacerbated the effects of climate change and its subsequent damage to all wildlife, as well as ourselves.

People were made more aware of the damage they caused to nature, as by staying within the confines of our houses we spent less fuel for instance or consumed less material things, meaning we were emitting the lowest levels of carbon dioxide in decades.

As our lives slowly started to come back to normality, so did emission levels. But governments now saw the need of investment to regain economic momentum, especially in MEDCs. Pre pandemic international accords such as the Paris climate agreement put to paper our commitment of thwarting environmental issues, but no real action was made. Now, with the need for government stimulus we had the golden chance to propel the economy through ESG friendly investments, like green energy or sustainable farming technology, effectively tackling two problems at once.

Critics might argue that the government, in spite of the majority of people’s willingness to commit to a sustainable future, may actually favor investments in traditional polluting industries such as fossil fuels and mining not only for the millions of jobs they represent, but also for the large tax revenue. That is the case for instance in China, where coal powered power plants are being built at the fastest pace yet. However, it is important to highlight that China, like other developing countries, favor these conventional polluting industries as they do not have the means to invest in more expensive, sustainable alternatives in their countries. Since they require the short-term benefit of cheap goods to level themselves with other global economies, before thinking about the long-term environmental impacts of their decisions. This differentiation between MEDCs and LEDCs is important to distinguish, as politicians just do what their voters ask them to. In developed countries that means prioritizing sustainability, in underdeveloped countries that means prioritizing cheap goods.

In conclusion, although the Covid pandemic did bring into the spotlight the environmental issues we face globally, the commitment to more serious action against them will likely only come from richer countries, instead of a coordinated global action.