Gulf Business|July 2020
There is no contemporary precedent to the Covid-19 pandemic. The effort to contain the virus is taking up most of the resources, time and effort in just about every country of the world, and has severely restricted economic activity.
Governments around the world are launching large stimulus packages to prop up their paralysed economies and they will need to kick-start them with shovel-ready projects.
Ideally, governments should think of one side effect learnt in the first three months of 2020: nature’s amazing ability to bounce-back when given a chance. The dramatic fall in pollution as a result of economic lockdowns were even visible from space. But experts say that it would take 10 consecutive years of this kind of economic slowdown to achieve the UN’s target to keeping global warming to below 1.5°C. Clearly, we must find another way to curb our carbon emissions.
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