Give healing a chance: Don’t return to biz as usual after coronavirus

Chennai

This should imbue us with confidence that we can also tackle and master the even bigger threat posed by climate change — provided we act as one global community. The crisis has had unintended positive side effects, such as reduced environmental pollution. The air and water quality in many coastal regions has improved. Global CO2 emission have dropped to record levels. But, once the pandemic passes, pollution will most likely return to pre-crisis levels, or worse. We witnessed the same rebound effect after the 2008/2009 financial crisis.

Companies must change
The crisis won’t solve the climate crisis. So it will be on us to organise a long-term strategy to cut CO2 emissions. We will have to radically transform our economies and everyday lives if we’re serious about limiting global warming to 2 degrees Celsius.

Researchers, like sustainability science expert Maja Gopel, now argue we must abandon the idea of perpetual economic growth. And that we should refrain from conceptualising economies in terms of gross domestic product alone. Instead, many experts say, a comprehensive tax reform should aim to promote human well-being and protect the environment. In practice, this would mean taxing companies based on the quantity and quality of resources used, rather than the amount of profit they generate.

Ex-banker and environmental economist Pavan Sukhdev proposes an even more radical step. He has called for companies’ annual reports to provide detailed information on their ecological footprint. Sukhdev is convinced that, in order to avoid bad PR, companies would then pursue a more sustainable way of doing business.

These are all sensible measures. And the ongoing pandemic has given us the leverage to push companies to adopt them. If they want financial support from the taxpayer, they should enact such environmental reforms. Full-stop. Period. Alas, we’re witnessing the very opposite right now. Akin to the financial crisis, the EU is in the process of creating a massive recovery fund. Up to 750 bn euros have been pledged. The aim is to stabilize hard-hit economies and help them return to the pre-crisis status-quo — environmental considerations play a marginal role at best.

It means we’re failing to seize a unique opportunity to bring about the sustainable, long-term transformation of our economies. Sure, far-reaching changes can be risky amid a recession. But returning to the pre-crisis status-quo is even riskier, as we’re endangering our very existence on this planet.

Public life and our working lives have slowed down considerably since the pandemic broke out. With surprising efficiency, many workers were given the tools to work from home. This has permitted many to spend more time with their families, instead of at their workplaces, and in public transport commuting there and back. Some have even used this new downtime to plant vegetables. This has given us a glimpse of what a more sustainable and decelerated lifestyle can look like. Though, of course, it has been stressful for working parents. I won’t sugar-coat that.

This new, decelerated lifestyle has prioritised solidarity and human well-being over profit and prestige. Maybe this teaches us a valuable lesson about what makes life worth living, and what counts as superfluous baggage. Will we remember these valuable lessons when the coronavirus pandemic dissipates? Or will we literally return to business as usual? And once more become well-oiled cogs in a massive capitalist consumption machine, as post-growth economist Niko Paech would argue.

— This article has been provided by Deutsche Welle (DW/dw.com)