ASX 200
Team Veye   April 06, 2020

Can the present coronavirus crises provide an opportunity?

coronavirus crises  opportunity
Team Veye   April 06, 2020
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Even as Australia’s practicing strict social distancing measures resulted in coronavirus infection rate getting halved and curve getting flattened, Prime Minister asked Australians not to be complacent and rather prepare for up to six more months of tough social restrictions as the country moved to the "next phase" of COVID-19 suppression.

As economic activity in much of the world has either slowed down or halted altogether, we are witnessing a world without polluting engines, with factories shutting down and power plants reducing their output and emissions due to the lockdown of around three billion people.

The response to the COVID-19 pandemic is showing that the nations of the world can come together to tackle global challenges. The crisis has also instilled a renewed appreciation of social solidarity.

The current fall in emissions due to the pandemic is providing the world much breathing space to deal with climate change because the dip in carbon emissions could be short-lived and may rebound as industrial activities recover.

Fossil fuel burnings cause carbon emissions which remain in Earth’s upper atmosphere far long enough to act as permanent climate change agents. Climate warming is ultimately leading to droughts, hurricanes, fires and floods getting more intense. The risk exposure to such disasters could be averted with the right preparations.

The climate war can be tackled by governments trying to rebuild economies after the pandemic and further tackle climate change once the economy is kickstarted.

The need to invest in emissions reduction technology by governments could not be more apparent than now. The WHO estimates that by reducing the environmental and social risk factors people are exposed to, global health burden could reduce substantially.

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