Insights Blog

As the number of confirmed cases of COVID-19 in the United States continues to rise and more and more Americans are told to stay home, the true extent of this crisis is becoming more apparent daily. Our immediate focus is on the health and safety of our families, our neighbors and the nation as a whole, as it should be. I can only imagine the suffering of people who have already lost a loved one to the virus or have a parent in a nursing facility where an outbreak has occurred. We need to do everything we can to protect the lives of all Americans.

While we will get through this immediate health crisis one way or another, its wake will be felt for years, perhaps for decades. It is not too soon to recognize and begin addressing the financial hardship caused by social distancing. As restaurants, theaters, retail stores and other establishments close their doors, either voluntarily or in response to emergency orders, small businesses and workers are bearing the immediate brunt of the economic fallout.

Building resilience in our supply chains will help prepare Canada for the next pandemic, as well as the effects of climate change.

"With the pandemic potentially triggering a global economic slowdown, leaders are already looking for ways to shore up their countries’ economies. The approaches they take to stimulate economic growth will have long-lasting effects, so they need to be chosen carefully," says Helen Mountford, Vice President, Climate & Economics at the World Resources Institute (WRI). "What governments should avoid is trying to boost their economies in the wake of one global health crisis by exacerbating another — namely air pollution. A stimulus package that includes ramping up fossil fuel production or use would do exactly this."

"If we get it right, the response to COVID-19 may not only minimize pain and suffering now, but can also build the foundation for a greener, safer, and more prosperous future," says Stéphane Hallegatte, lead economist with the Global Facility for Disaster Reduction and Recovery (GFDRR) at the World Bank, and Stephen Hammer, Global Director of the World Bank's Climate Change team.

Unreliable electricity is a common challenge for healthcare centers located in rural areas. Some health centers across Asia and Africa are increasingly turning to solar power to meet basic energy needs. However, larger hospitals in remote areas, like Makunda in a remote rural area of India that often faces power outages, still hesitate to install solar panels.

While investments in economic infrastructure like roads and power plants are important, the coronavirus pandemic highlights the need to focus also on inclusive social infrastructure.

From youth activists marching in the streets to economic leaders in Davos, the world is calling for business to combat the climate crisis. Indeed, business plays a vital role in the effort to limit global warming to 1.5°C in line with the Paris Agreement targets. And business is making progress: to date, 769 companies with a combined market cap of over USD$10 trillion have committed to setting science-based targets (SBTs) to reduce their greenhouse gas (GHG) emissions.

The integration of ESG issues into investment practice and decision making is an increasingly standard part of the regulatory and legal requirements for institutional investors around the world. In China, two key drivers have recently prompted interest in responsible investment: a government effort to promote green finance, and the increasing globalisation of China’s investment market. New research by the PRI shows there is a third driver for responsible investment in China: that ESG integration is a source of investment value.

Manuel Albaladejo, the representative of the United Nations Industrial Development Organization (UNIDO) in Uruguay, is one of the leading promoters of a circular economy in Latin America. In this interview with Chile’s País Circular, originally published on 9 March 2020, he analyses the challenges and prospects for the circular economy in Chile and the region. The original interview in Spanish can be found here. The following translation into English is by Paula Mirazo.

Given that chemicals and waste affect all aspects of development, the sound management of both is key to achieving a number of targets under the UN Sustainable Development Goals. In this blog, Thomas Jakl, the Deputy Director-General of the Ministry of Environment of Austria, shares how chemicals can be produced and used in ways that minimize significant adverse impacts on human health and the environment through Chemical Leasing.