STATEMENT OF THE LANCET COVID-19 COMMISSION TASK FORCE ON GREEN RECOVERY Transforming Recovery into a Green Future

• SUMMARY OF KEY MESSAGES This statement, prepared by the Task Force on Green Recovery of the Lancet COVID-19 Commission provides some initial reflections on key priorities to support a green, fair and resilient recovery from COVID-19. At this stage, the Task Force on Green Recovery emphasizes six key messages: 1. Recovery packages across the world should finance the transformations needed for a green, digital and fair future. A “green” fiscal expansion is more growth-enhancing compared to investing in a “return-to-normal,” and it builds a sustainable and resilient future for the current and next generations. 2. Recent commitments to achieve net zero greenhouse gas (GHG) emissions by around mid-century in Europe, China and other major economies can provide the needed momentum for deep transformations of economies and societies. 3. Environmental, social and governance (ESG)-based and sustainability investing strategies now account for over one-third of global Assets Under Management (AUM) and are likely to be a majority of global assets in the coming years. This fundamentally changes the direction of global capital flows. The recovery should build on this momentum. 4. Yet, so far, financial resources devoted to and commitments made for post COVID-19 recovery are largely insufficient for a green recovery, including in most G20 countries. One exception is the European Union (EU) where the European Green Deal (EGD) provides strong ambition and where efforts have been made to align investments framework for a green recovery. Yet, the effective implementation of the plan remains to be seen. 5. Low-income countries (LICs) and some emerging markets (EMs) urgently need support to address the immediate consequences of the pandemic but also to build back more sustainable, inclusive and resilient. 6. Ensuring a successful biodiversity COP in Kunming, a climate COP in Glasgow and the World Food Summit in Copenhagen is essential for coordinated global governance actions on climate and biodiversity. Combined with other annual meetings (UNGA, G20, HLPF etc.) these can make 2021 the “super year for nature and climate” and can set the foundation for long-term international cooperation on the environment. The final report of the Lancet COVID-19 Commission is scheduled for the end of 2021.

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SAMHÄLLSVETENSKAP  -- Ekonomi och näringsliv -- Nationalekonomi (hsv//swe)

SOCIAL SCIENCES  -- Economics and Business -- Economics (hsv//eng)

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