Earth Day 2020: A view to build back better

On this day, the 50th anniversary of Earth Day, I am reflecting on why in the face of the coronavirus crisis it has never been more important to ensure we "make climate action everyone’s business”.

2020 was supposed to be the “super year” for the planet in view of the series of scheduled international policy meetings that were set to chart an ambitious path forward on key global imperatives – including climate change, oceans and biodiversity. With the onset of COVID-19, those meetings have now – quite understandably – all been postponed.

All our efforts are now focused on fighting an immediate crisis that has one third of the world’s population under lockdown – and people everywhere fighting for their lives and livelihoods. As the leader of the world’s largest private sector institution, I am seeing firsthand the impact that the current pandemic is having on communities and businesses – not to mention the toll on the global economy as it whole. Quite clearly, there is not a moment to spare in mitigating the human and economic damage of the crisis unfolding before us.

But in responding to the crisis, global leaders should not forget the imperative to keep a longer-term strategic perspective. We must do more than simply weather the current storm: we must heed learnings from the coronavirus crisis and offer up a plan for a better future for all. Failing to do so, would mean millions have suffered from COVID-19 in vain.

One sure lesson is that we need to be better prepared for existential threats – whether they be biological, technological or environmental. While we address the immediate threat of COVID-19, other ‘black swans’ like climate change have not gone to sleep, and neither can we.

The science in this regard is indisputable. The Intergovernmental Panel on Climate Change has clearly articulated the urgent need to keep the global temperature increase to below 1.5°C – as set out in the landmark Paris Agreement – and the necessity of achieving net-zero emissions by 2050 to be able to meet this goal.

The impacts of climate change are already being felt. Just a couple of months ago, my home country of Australia experienced the worst wildfires in its history and earlier this month, Cyclone Harold devastated the Solomon Islands, Vanuatu, Fiji and Tonga. The intensity and frequency of severe weather events like these are leading to drought, failing crops, water shortages, and forced migration – not to mention the destruction of infrastructure and the economic ramifications this brings.

The impacts of climate change on human health are also well documented, with the World Health Organization estimating that air pollution leads to the death of seven million people every year. As with COVID-19, it is often the most vulnerable among us that are most disproportionately impacted by climate change.

Yet, governments are not on track to meet the goals of the Paris Agreement, leaving us exposed to a future health and socio-economic threat of wildly greater proportions. 

If we are to avoid a climate crisis, there is only one way forward – deliberate and ambitious climate action on a global scale.

The postponement of major intergovernmental discussions in 2020 should not preclude effective climate action. Governments must keep climate change high on the political agenda and design the COVID-19 stimulus packages in a manner coherent with their existing climate commitments and help put the world on track to achieving the goals of the Paris Agreement. In doing so, they will reduce harmful emissions, create much-needed new jobs, stimulate sustainable economic growth and foster resilience.

Businesses, for their part, must reaffirm their commitment to climate action and ensure that they are building a sustainable business model that can withstand the test of time and absorb future shocks. A recent report by HSBC found that companies with strong ESG credentials outperformed their peers and were more resilient to the effects of the coronavirus pandemic. Taking climate action is not only the right thing to do, it makes plain business sense.

The shock of COVID-19 only underscores the imperative to make climate action everyone’s business. In responding to the crisis we can build back better for the future. We have been talking about the imperative to protect our planet on Earth Day for the last 50 years. If now is not the time for action, then when? 

Learn more about ICC’s commitment to climate, join our Chambers Climate Coalition, and find out more about the launch today of the ICC Carbon Council.