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WRI DIGEST

Raising Climate Ambition in the Time of COVID-19

Governments and international financial institutions are mobilizing trillions of dollars to address the COVID-19 crisis. Their first job is to stop the virus and protect communities from the immediate health and economic threats. Their second job can be summed up in three words: build back better. The European Council, South Korea and Indonesia are emerging leaders. Helen Mountford, WRI vice president for climate and economics, identifies COVID-19 recovery approaches that can create jobs, spur economic growth and boost resilience to climate change. Read More.

In the wake of COVID-19, we must identify recovery approaches that create jobs and economic growth, while building global resilience against climate change and other crises. Photo by HCC Public Information Office/Flickr.

Investing in renewable energy is a key way China can reboot its economy in the wake of COVID-19. Photo by Jiri Rezac/The Climate Group

4 Investment Areas to Stimulate China’s Economy

China was first country to be hit by the new coronavirus and is among the first to recover. Helen Ding and Wee Kean Fong highlight four parts of China’s economic recovery plan that can open the way for a better future—electric vehicle charging stations; renewable energy; 5G connectivity and smart grids; and greener, healthier cities. “All eyes are on China to set an example,” they write. “China has everything to gain by rebuilding its economy through smart, sustainable new infrastructure—and lots to lose if it relies on fossil fuel-driven growth.” Read more.

As India takes steps toward economic recovery after Covid-19, there’s room to also take action for long-term sustainable development and improved resilience. Photo credits to FPA.

Mapping Out a Resilient Recovery for India

The IMF has slashed India’s growth forecast for 2020-21 to 1.9%, down from 5.8% in January. Worse, the ILO estimates that 400 million people are at risk of sinking deeper into poverty. WRI India lead economist Aman Srivastava offers five recommendations for India to address immediate challenges and build a more sustainable and resilient economy. Infrastructure and better support for India’s most vulnerable people—including a universal basic income—top the list. Read more.

If Korea commits to sustainable economic stimulus as it has in the past, the nation will seize an opportunity to become a climate leader while paving the way to long-term economic recovery after COVID-19. Photo by Maggie Meng/Flickr.

Small but Mighty: Korea is Tackling COVID-19 and Climate Change

All eyes may be on China, but don’t overlook South Korea’s response to COVID-19. By combining aggressive testing with early isolation and treatment, the country has prevented unmanageable spread. At the same time, South Korea has set a high standard on addressing climate change. After a landslide victory on April 15, the ruling party is set to follow through on a campaign proposal to reach net-zero by 2050, making South Korea the first country in Asia with a net-zero target. Joel Jaeger highlights how the country serves as an inspiration for countries around the world. Read more.