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THE GREEN RECOVERY PATHWAY FROM COVID-19 BY OLADOSU ADENIKE


THE GREEN RECOVERY PATHWAY FROM COVID-19
BY OLADOSU ADENIKE

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The current global pandemic called coronavirus raging the health system has been a shock to global economies. According to IMF, “COVID-19 has raffled the investors, wiped out about N17 trillion from stock markets worldwide and led to millions of people losing their jobs as countries impose lockdowns”. This is another great recession as seen in 1930s that we are heading to depending on how lengthy this pandemic is. In the statement from IMP, about 100 countries needs bailout. This shows that, we need to diversify our economy as most of the countries that need bailout are fossil fuel depending on economy and low income countries. Since we are in a total lockdown, it has crippled the economy of many countries; coronavirus like climate change is defining issue of sectors that define the economic outlook.
         This pandemic is creating another chance to think a green recovery pathway. Are we ready to green the economy or carbonize it? We definitely can’t stay on the fence because millions of lives are dependent on the decision to boost the economy towards a green recovery stimulus. Currently we need a temperate to be drawn from every sector that will include green elements in other to build a system that can withstand the test of climate change. There is more in the green recovery, the money generated will not be used to fund loss and damage from climate crises and other pandemic threads. According to international labour organization, low or zero carbon investment can provide job for 24 million people by 2030. This green economy is a door to creating decent jobs to the steaming population: it is opened to innovative ways of thinking. This is the time we can fix our economy!.
         For developing countries, there is an urgency to invest on short term green projects; in this, will make the recovery process faster. Also, developed countries that are ICT inclined of different kinds can fit into the green recovery process. I am also calling for the establishment of international green bank by IMF or World Bank so as to hence green future; saddled with the responsibility of funding green projects; clean water source, clean environment, clean source of energy and other activities that will lead to strong institution. It also needs strong policies to break up the action.
         The action will take now must depend on the threats, opportunities and strength of the economy not the speed to recovery, thereby going back to business as usual. COVID-19 shows that most nation economies are not strong enough because it is not built on a green foundation. This is why I have been campaigning for a green democracy; a government for the people and the environment, by that people and the environment and of the people and the environment through climate government.

Oladosu Adenike is an ecofeminist & an agricultural economist. 


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