The COVID-19 crisis has overwhelmed health care systems in many countries and the economic lockdowns in 120 countries are affecting people everywhere. According to estimates, developed economies are likely to see their Gross Domestic Product (GDP) decline by 8-13 percent in the second quarter of 2020. Job losses in the second quarter of 2020 were estimated as a reduction in hours worked of 10.7 percent, equivalent to 305 million full-time jobs. While the full impact of the COVID-19 pandemic is still unfolding, the pressure is already mounting on governments to invest in COVID-19 recovery packages while facing budget shortfalls, rising debt, and declining tax revenues.
This report explores the challenges and opportunities posed by the COVID-19 pandemic, the links between health and climate crises, and the lessons learned from past disasters to build back better. It is intended to serve as a source of information and recommendations for countries as they design green COVID-19 recovery plans in the months to come.