Why invest in Green projects for Covid19 Recovery

As we journey towards an end to Covid19, 50 of the world’s largest economies have pledged over $14 trillion for post-pandemic recovery, however, fewer than a fifth of the said fund is actually being directed towards green initiatives.

This gap is a missed chance for countries to direct economic stimulus in a manner that supports and accelerates national climate targets.

In some developing countries, as the pandemic persists, decision-makers have to balance their long-term needs when dealing with climate risks against short-term recovery actions that can strengthen overburdened health systems, help in replenishing diminished emergency funds, and respond to economic inequality.

Adaptation and resilience considerations are two factors that are mandatory for planning for a post-pandemic world.

When nations invest in adaptation, it would not only contribute to near-term economic return but also lead to long-term resilience in all sectors of the economy.

Investing in projects like climate-smart agriculture and food and nutrition warning systems demonstrated to be significant in strengthening a consistent food supply at the height of the pandemic. Other investments in an adaptation like the organization of climate-sensitive disease management and control have been used in assisting with contract tracing and vaccine rollout.

Ultimately, in the heart of any pandemic at all, financing and authorizing of the adaptation of major projects like coastline restoration, neighbourhood tree planting, and adaptive social security would create new jobs while also linking back to every nation’s National Adaptation Plan Process.

This has proven to be highly effective, as a result, many of the investments countries are already making, not only deliver benefits when a climate disaster hits but can also be deployed for future pandemics and health crises.

Importance of Green projects

  1. The World Health Organization (WHO) disclosed research that indicated that air pollution causes approximately 2 million premature deaths every year throughout the world. Carrying out green projects would result in the reduction of air pollutants and environmental toxins, which implies that the air would become cleaner for breathing.
  2. A healthy environment would result in a more sustainable future. When individuals in the society and governments make choices that encourage activities like organic farming, responsible land use, and habitat preservation, it reduces greenhouse gas emissions and lowers air pollution. Tree conservation on the other hand means better air quality.
  3. There is the legal and state benefit as some states are beginning to regulate energy use and emission waste. Businesses are following suit and incorporating green technology into their daily tasks. Some states now allow businesses to produce and sell electricity from renewable energy sources for a corporate income tax credit and some governments allow companies to collect a tax credit of up to 30 percent for the usage of solar and wind energy. On the federal level, the IRS offers businesses with hybrid company cars to take an alternative motor vehicle credit on federal taxes.
  4. Brands benefit when they are known for environmental stewardship by actively taking steps that prioritize the health of the planet as consumers are always going to buy products, with the corresponding emotional benefit of knowing that a purchase was also good for the environment.

In conclusion, the ways to jumpstart green recovery from Covid19 includes;

  • Improving the quality of the air and promoting hygiene
  • Making protection of wildlife and the restoration of the ecosystem a priority
  • Supporting Urban agriculture to improve food security
  • Investing in green livelihood
  • Building long term climate and disaster resilience
  • Encouraging Innovative financing that supports green investments

Going green aside, the government’s focus should also be on mandating Covid-19 safety protocols, vaccination, and encouraging mandatory Leaving the UK PCR test and Leaving the UK Pcr home test for travellers.

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