One year from the onset of the pandemic, recovery spending has fallen short of nations’ commitments to build back more sustainably. An analysis of spending by leading economies, led by Oxford’s Economic Recovery Project and the UN Environment Programme (UNEP), finds only 18.0% of announced recovery spending can be considered ‘green.’
The report, Are We Building Back Better? Evidence from 2020 and Pathways for Inclusive Green Recovery Spending, calls for governments to invest more sustainably and tackle inequalities as they stimulate growth in the wake of the devastation wrought by the pandemic.
The most comprehensive analysis of COVID-19-related fiscal rescue and recovery efforts by 50 leading economies so far, the report reveals that only $368bn of $14.6tn COVID-induced spending (rescue and recovery) in 2020 was green.
UNEP’s Executive Director, Inger Andersen: “Humanity is facing a pandemic, an economic crisis and an ecological breakdown – we cannot afford to lose on any front. Governments have a unique chance to put their countries on sustainable trajectories that prioritize economic opportunity, poverty reduction and planetary health at once – the Observatory gives them the tools to navigate to more sustainable and inclusive recoveries.”
Brian O’Callaghan, lead researcher at the Oxford University Economic Recovery Project and the report’s author: “Despite positive steps towards a sustainable COVID-19 recovery from a few leading nations, the world has so far fallen short of matching aspirations to build back better. But opportunities to spend wisely on recovery are not yet over. Governments can use this moment to secure long-term economic, social, and environmental prosperity.”
“Our ability to better inform and monitor the investments made by countries to address the socio-economic effects of the COVID-19 pandemic is vital to keep the green, inclusive recovery on track,” says Achim Steiner, UNDP Administrator. “In this respect, the Global Recovery Observatory and UNDP’s Data Futures Platform offer policymakers a rich new set of data points and insights – expanding access to such resources will help to increase the transparency, accountability, and effectiveness of the investments being made now and their impact on our sustainable future.”
Professor of Environmental Economics at Oxford, Cameron Hepburn: “This report is a wake-up call. The data from the Global Recovery Observatory show that we are not building back better, at least not yet. We know a green recovery would be a win for the economy as well as the climate – now we need to get on with it.”
The report emphasizes that green recovery can bring stronger economic growth, while helping to meet global environmental targets and addressing structural inequality. To keep decades of progress against poverty from unwinding, low-income countries will require substantial concessional finance from international partners.
It raises five key questions for the road to sustainable recovery:
- What is at stake as countries commit unprecedented resources to recovery?
- What spending pathways could enhance economic recovery and environmental sustainability?
- What is the role of recovery spending in addressing inequalities exacerbated by COVID-19?
- What kind of recovery investments countries are currently making to tackle climate change, nature loss, and pollution?
- What more needs to be done to ensure a sustainable and equitable recovery?
On the whole, so far global green spending “has been incommensurate with the scale of ongoing environmental crises,” according to the report, including climate change, nature loss, and pollution, missing significant social and long-term economic benefits.
Key findings of the analysis in terms of recovery spending:
$341bn or 18.0% of spending was green, mostly accounted for by a small group of high-income countries. Global recovery spending has so far missed the opportunity for green investment.
$66.1bn was invested in low carbon energy, largely thanks to Spanish and German subsidies for renewable energy projects and hydrogen and infrastructure investments.
$86.1bn announced for green transport through electric vehicle transfers and subsidies, investments in public transport, cycling and walking infrastructure.
$35.2bn was announced for green building upgrades to increase energy efficiency, mostly through retrofits, notably in France and the UK.
$56.3bn was announced for natural capital or Nature based Solutions (NbS)– ecosystem regeneration initiatives and reforestation. Two-fifths was directed towards public parks and counter pollution measures, notably in the US and China, improving quality of life and addressing environmental concerns.
$28.9bn was announced in green R&D. Green R&D includes renewable energy technologies, technologies for decarbonising sectors such as aviation, plastics, and agriculture, and carbon sequestration. Without progress in green R&D, meeting the Paris Agreement targets would require far-reaching pricing and lifestyle changes.
Western Indian Ocean region has declared 550,000 square kilometers as protected
The Western Indian Ocean region has declared 143* marine and coastal areas as protected – an area covering 553,163 square kilometers, representing 7 percent of the total Exclusive Economic Zone (EEZ) for the region – according to a new publication by the UN Environment Programme (UNEP)-Nairobi Convention and the Western Indian Ocean Marine Science Association.
The Marine Protected Areas Outlook, released today, indicates that almost half of the total area – an estimated 63 percent of the overall square kilometers – was brought under protection in the seven years since the 2015 adoption of Sustainable Development Goal 14.5, which committed countries to conserving at least 10 percent of their marine and coastal areas by 2020.
This Outlook examines the current and future status of Marine Protected Areas (MPAs) in Comoros, Kenya, France (in its Western Indian Ocean territories), Madagascar, Mauritius, Mozambique, Seychelles, South Africa, and Tanzania, emphasizing the increased commitment of countries to strengthen marine protection. In 2019 alone, Seychelles brought 30 percent of its Exclusive Economic Zone under protection, safeguarding the habitats of 2,600 species, while South Africa declared 20 new MPAs – enabling both countries to exceed the 10 percent target. Comoros has developed new MPA-specific legislation, while over three hundred Locally Managed Marine Areas – i.e., areas in which coastal communities shoulder the mantle of conservation – have been declared across the region.
The publication further documents the dozens of proposed MPAs currently under consideration by countries, which would cover an additional 50,000 square kilometers or more. Nevertheless, with only 7 percent of the region’s total EEZ under protection, greater momentum and investments will be required by countries to reach the more ambitious target of 30 percent protection by 2030, as proposed under the Global Biodiversity Framework.
Although the ocean provides us with resources essential for survival, including food, employment, and even oxygen, the world is damaging and depleting it faster than ever. Soon, the region may no longer be able to count on the many jobs, health, and economic benefits – valued at 20.8 billion USD – that the Western Indian Ocean provides. Marine protected areas offer one of the best options to reverse these trends.
“A well-managed MPA can bring significant economic, social, and environmental benefits to a country,” said Yamkela Mngxe, Acting Director of Integrated Projects and International Coordination in South Africa’s Department of Forestry, Fisheries and the Environment. “They can increase food security by preventing the overexploitation of fish stocks; create and protect jobs in the tourism and fisheries sectors; build resilience to climate change; and protect species and habitats.”
Though countries in the region have made significant strides in protecting its marine and coastal areas, the Outlook outlines best practices, challenges, and several opportunities to build on thisprogressto ensure the entire region meets future Global Biodiversity Framework targets on marine protected areas. The Outlook’s assessment of the management effectiveness of MPAs indicates that MPA frameworks and institutions do not always function effectively. Nor is relevant legislation consistently implemented, due to financial or personnel capacity gaps; weak enforcement on MPA boundaries; and management decisions that are not guided by science.
Key recommendations from the Outlook therefore include:
- The need for dedicated budgets for MPA management;
- Adopting proactive law enforcement and compliance strategies to ensure MPA regulations and guidelines are being respected which could be informed by the best practices in fishery reserves like Mauritius, which have helped to restore fish stocks and protect biodiversity;
- Incorporating research and monitoring programmes on biodiversity and ecosystems into decision-making in MPAs;
- Strengthening community engagement in marine protection by implementing lessons learned by the MIHARI Network, which brings together more than 200 Locally Managed Marine Areas in Madagascar.
“The MPA Outlook comes at a time when the region has embarked on large-scale socio-economic developments that are equally exerting pressure on MPAs,” said Hon. Flavien Joubert,Minister of Agriculture, Climate Change, and Environment of the Seychelles. “The Outlook thus provides some answers and innovative approaches to minimize the scale of negative impacts on MPAs.”
The MPA Outlook concludes that by seizing the opportunities it presents, countries in the region can capitalize on this progress to safeguard the Western Indian Ocean’s immense natural beauty and resources for generations to come – and sustain momentum towards achievement of the post 2020 biodiversity framework targets.
Deadly flooding, heatwaves in Europe, highlight urgency of climate action
Heavy rainfall that has triggered deadly and catastrophic flooding in several western European countries, is just the latest indicator that all nations need to do more to hold back climate change-induced disasters, the World Meteorological Organization (WMO) said on Friday.
The agency said that countries including Belgium, Germany, Luxembourg and the Netherlands had received up to two months’ rain in two days from 14 to 15 July, on ground that was “already near saturation”.
Photos taken at the scene of some of the worst water surges and landslides show huge, gaping holes where earth and buildings had stood until mid-week, after media reports pointed to well over 100 confirmed fatalities in Germany and Belgium on Friday morning, with an unknown number still missing across vast areas.
“We’ve seen images of houses being…swept away, it’s really, really devastating”, said WMO spokesperson Clare Nullis adding that that the disaster had overwhelmed some of the prevention measures put in place by the affected developed countries.
In a statement issued by his Spokesperson, the UN Secretary-General António Guterres, said he was saddened by the loss of life and destruction of property. “He extends his condolences and solidarity to the families of the victims and to the Governments and people of the affected countries.”
The UN chief said the UN stood ready to contribute to ongoing rescue and assistance efforts, if necessary.
“Europe on the whole is prepared, but you know, when you get extreme events, such as what we’ve seen – two months’ worth of rainfall in two days – it’s very, very difficult to cope,” added Ms. Nullis, before describing scenes of “utter devastation” in Germany’s southwestern Rhineland-Palatinate state, which is bordered by France, Belgium and Luxembourg.
Highlighting typical preparedness measures, the WMO official noted In Switzerland’s national meteorological service, MeteoSwiss, had a smartphone application which regularly issued alerts about critical high-water levels.
The highest flood warning is in place at popular tourist and camping locations including lakes Biel, Thun and the Vierwaldstattersee, with alerts also in place for Lake Brienz, the Rhine near Basel, and Lake Zurich.
Dry and hot up north
In contrast to the wet conditions, parts of Scandinavia continue to endure scorching temperatures, while smoke plumes from Siberia have affected air quality across the international dateline in Alaska. Unprecedented heat in western north America has also triggered devastating wildfires in recent weeks.
Among the Scandinavian countries enduring a lasting heatwave, the southern Finnish town of Kouvola Anjala, has seen 27 consecutive days with temperatures above 25C. “This is Finland, you know, it’s not Spain, it’s not north Africa,”, Ms. Nullis emphasised to journalists in Geneva.
“Certainly, when you see the images we’ve seen in Germany, Belgium and the Netherlands this week it’s shocking, but under climate change scenarios, we are going to see more extreme events in particular extreme heat,” the WMO official added.
Concerns persist about rising sea temperatures in high northern latitudes, too, Ms. Nullis said, describing the Gulf of Finland in the Baltic Sea at a “record” high, “up to 26.6C on 14 July”, making it the warmest recorded water temperature since records began some 20 years ago.
Echoing a call by UN Secretary-General António Guterres to all countries to do more to avoid a climate catastrophe linked to rising emissions and temperatures, Ms. Nullis urged action, ahead of this year’s UN climate conference, known as COP26, in Glasgow, in November.
South Africa Invests in Biodiversity to Promote Rural Development and Conservation
South Africa is stepping up investment for its wildlife and biodiversity sectors thanks to a grant of $8.9 million from the Global Environment Facility (GEF). The Catalyzing Financing and Capacity for the Biodiversity Economy Around Protected Areas Project aims to enhance South Africa’s stewardship of its rich biodiversity and expand the benefits of protected areas for local communities. It will also help address high unemployment and limited livelihoods options in and around protected areas as well as inequality in rural economies.
The project supports South Africa’s efforts to foster the unrealized potential of its wildlife and biodiversity sectors as drivers for economic growth, including through expanding conservation areas and mitigating threats to protected areas and conservation objectives.
It puts into action South Africa’s biodiversity economy node concept, which identifies certain areas within the country as containing both high-value biodiversity and opportunities for economic development. The project will target activities in three biodiversity economy nodes: (i) the Greater Addo to Amathole node in the Eastern Cape Province, (ii) the Greater Kruger-Limpopo node in Limpopo Province, and (iii) the Greater-iSimangaliso node in KwaZulu-Natal Province.
“The biodiversity economy is central to South Africa’s tourism industry and building the resilience of communities to climate change. Empowering communities to invest in the biodiversity economy will create jobs, promote biodiversity stewardship and stimulate rural development in a climate-smart way,” said Marie Françoise Marie Nelly, World Bank Country Director for South Africa, Botswana, Eswatini, Lesotho, and Namibia.
Project activities include providing training, mentorship, and capital to micro, small, and medium enterprises (MSMEs); expanding the area of land under protected status through South Africa’s land stewardship program; and facilitating knowledge exchange to support expansion of the biodiversity economy across the country based on lessons learned from the three nodes.
The project is aligned with South Africa’s National Development Plan 2030 and its National Biodiversity Strategy and Action Plan 2015-2025, both of which identify the wildlife economy as an important sector for job creation and economic growth. It also supports South Africa’s climate change objectives and Nationally Determined Contribution to the Paris Climate Agreement. The project’s focus on inclusive job creation and economic growth through the development of MSMEs, integrated value chains, and entrepreneurship is also fully aligned with a draft World Bank Group Country Partnership Framework for South Africa.
About the Global Environment Facility
The Global Environment Facility (GEF) was established 30 years ago on the eve of the Rio Earth Summit to tackle our planet’s most pressing environmental problems. Since then, it has provided more than $21.5 billion in grants and mobilized an additional $117 billion in co-financing for more than 5,000 projects and programs. The GEF is the largest multilateral trust fund focused on enabling developing countries to invest in nature and supports the implementation of major international environmental conventions including on biodiversity, climate change, chemicals, and desertification. It brings together 184 member governments in addition to civil society, international organization, and private sector partners. Through its Small Grants Programme, the GEF has provided support to more than 25,000 civil society and community initiatives in 135 countries.
US Economic Turmoil: The Paradox of Recovery and Inflation
The US economy has been a rollercoaster since the pandemic cinched the world last year. As lockdowns turned into routine...
Commission proposes draft mandate for negotiations on Gibraltar
The European Commission has today adopted a Recommendation for a Council decision authorising the opening of negotiations for an EU-UK...
Why France holds the key to India’s Multilateral Ambitions
Authors: Prof. Nidhi Piplani Kapur and K.A. Dhananjay As Indian Foreign Secretary Harsh Shringla pitches for permanent membership and reforms...
As Refugees Flee Central America, the Mexican Public Sours On Accepting Them
Authors: Isabel Eliassen, Alianna Casas, Timothy S. Rich* In recent years, individuals from Central America’s Northern Triangle (El Salvador, Guatemala,...
Post-COVID-19, regaining citizen’s trust should be a priority for governments
The COVID-19 crisis has demonstrated governments’ ability to respond to a major global crisis with extraordinary flexibility, innovation and determination....
IRENA Outlines Action Agenda on Offshore Renewables for G20
Boosting offshore renewables will accelerate the energy transition and allow G20 countries to build a resilient and sustainable energy system,...
Commission overhauls anti-money laundering and countering the financing of terrorism rules
The European Commission has today presented an ambitious package of legislative proposals to strengthen the EU’s anti-money laundering and countering...
Development3 days ago
10 new cities chosen for World Economic Forum circular economy initiative
Americas2 days ago
Sea Breeze 2021: U.S. is worryingly heading closer to conflict with Russia in the Black Sea
Central Asia2 days ago
Power without Soft Power: China’s Outreach to Central Asia
New Social Compact2 days ago
Demand for Investigation of COVID-19 gained momentum
Russia2 days ago
Russian Foreign Ministry sees elements of show in “Navalny poisoning”
South Asia2 days ago
Unleashing India’s True Potential
Economy3 days ago
Carbon Market Could Drive Climate Action
Africa Today3 days ago
Partnership with Private Sector is Key in Closing Rwanda’s Infrastructure Gap