Authors: Deepanjali Jain and Prateek Khandelwal*
From one Wuhanese to over 4 million humans, the coronavirus has shackled pillars and institutions of our civilisation. The pandemic has socially distanced humans and spread fear which could be gauged from any nook and corner of the world. Though it seems, nature can finally breathe after decades, the signatures of which were visible from space.
As the factories and vehicle closed, dirty brown pollution belts shrunk over industrial centres in the country within days after lockdown. After decades of relentless exploitation, the human footprint on the earth has lightened. The persistent denial by the industrialist got an answer that climate change is real and that it is a reflection of human ‘exploitation’. The overexploitation of nature is fuelled by human greed, where consumption increases production and vice-versa. This vicious cycle depletes the natural ability of environment, which can be sensed in the lockdown months, to balance itself and so disrupts ecology.
COVID-19 is not only a pandemic; it reflects a broader trend that more planetary crisis is scheduled for upcoming years. While we muddle through each new crisis, with the current economic model, then the repercussions will eventually exceed the capacity of financial institutions to respond. Indeed, the “corona crisis” has already done so. For just climate transition, new economic reforms should have a blueprint for “planned degrowth” that emphasizes on the wellbeing of people over profit margins.
The initial move towards this is assuring the incentives that governments are announcing across the globe are not exhausted on bailing out corporations. Instead, the funds should be allocated to decentralised renewable energy production to implement the ‘Green’ New Deal and create meaningful jobs for ‘the Great Depression’ post-COVID-19. Along with this, the state should enact on the provision of social welfare such as universal healthcare and free education for all vulnerable populations.
Though set for 2025, by G7 and many European countries, elimination of perverse fossil-fuel subsidies can be done amid the recent oil-price plunge. It is the appropriate moment to deploy renewable energy technologies, which are now globally accessible without any economic barrier and phase out age-old fossil fuel.
A shift from exploitative industry setup to regenerative industries is immediately feasible. Also, it would allow us to sequester carbon emission spread by the current economic framework at a rate that is ample to reverse the ongoing climate crisis. This will have a positive impact on the environment and improve global wellbeing; also, it would turn to be an economically profit-enhancing model.
Though defined with differences and demarcated with boundaries, the planet with various species, nations, and geopolitical issues are ultimately interconnected. COVID-19 narrated that crisis does not observe national or even physical borders; the same is the case with climate change, biodiversity loss, and other environmental problem. Collective actions to curb these from becoming a full-blown crisis can only help in managing these issues. The current rescue plan for battling COVID-19 could usher these changes, as we are getting accustomed to the lifestyle and economic pattern that minimise consuming.
With the idea of sticking with this development structure, Governments can succeed in curbing the Corona epidemic. But we should move a step ahead to do a greater good for society and nature. The use of science can be moulded to construct an economy that will not mitigate the threats of climate change, biodiversity loss, pandemics and other challenges. A green economy should be laid down that has a preamble of nature-based solutions and is geared toward the public good.
Obviously, the circumstances are not ideal, but the rapid reflex actions and response to the virus of mutual aid also illustrates that human society is capable of controlling and working collectively in the face of a grave pandemic. The phase of development which humans are at, they are entrepreneurial and capable to begin again perfectly. If we learn from our failures and embrace this moment of upheaval as an opportunity to invest in shared prosperity, planetary health, and green economy, we can build a brighter future than the one we are heading towards. We have long since exceeded our natural limits; it is time to try something new.
*Prateek Khandelwal is a 2nd Year student pursuing B.B.A., LL.B. (Hons.) from Chanakya National Law University, Patna.