![]() ![]() The adoption of circular economy (CE) – an industrial economic model that satisfies the multiple roles of decoupling of economic growth from resource consumption, waste management and wealth creation – has been touted to be a viable solution. However, as highlighted by Naidoo and Fisher (2020), our reliance on globalization and economic growth as drivers of green investment and sustainable development is no longer realistic. As a result, going forward, a fundamental change to human bio-physical activities on earth now appears on the spectrum of possibility ( Anderson et al., 2020). Despite this, the measures imposed by governments have also led to some “accidental” positive effects on the environment and natural ecosystems. Viewed holistically, the emerging pieces of evidence indicate we are at a most consequential moment in history where a rethink of sustainable pathways for the planet has become pertinent. Data remains in flux, government policies oscillate, and the killer virus seeps through nations, affecting production, disrupting supply chains and unsettling the financial markets ( Bachman, 2020 Sarkis et al., 2020). Currently, the economic shock arising from this pandemic is still being weighed. ![]() These measures have shattered the core sustaining pillars of modern world economies. In efforts to isolate cases and limit the transmission rate of the virus, while mitigating the pandemic, countries across the globe implemented stringent measures such as mandatory national lockdown and border closures. At the time of writing, the virus has killed over 800,000 people worldwide ( JHU, 2020), disrupted means of livelihoods, cost trillions of dollars while global recession looms ( Naidoo and Fisher, 2020). By all accounts, the emerging havoc wrought by the pandemic exceeded the predictions in those commentaries. ![]() In series of revelatory reports ( Daszak, 2012 Ford et al., 2009 Webster, 1997), experts across professional cadres had long predicted a worldwide pandemic would strain the elements of the global supply chains and demands, thereby igniting a cross-border economic disaster because of the highly interconnected world we now live in. Towards the formal pandemic declaration, substantive economic signals from different channels, weeks earlier, indicated the world was leaning towards an unprecedented watershed in our lifetime, if not in human history ( Gopinath, 2020). Originating from Wuhan, China, cases rapidly spread to Japan, South Korea, Europe and the United States as it reached global proportions. The world woke up to a perilous reality on the 11th of March, 2020 when the World Health Organization (WHO) declared novel coronavirus (COVID-19) a pandemic ( Sohrabi et al., 2020 WHO, 2020a). Building on evidence in support of CE as a vehicle for balancing the complex equation of accomplishing profit with minimal environmental harms, the paper outlines concrete sector-specific recommendations on CE-related solutions as a catalyst for the global economic growth and development in a resilient post-COVID-19 world. It argues for a rethink of the present global economic growth model, shaped by a linear economy system and sustained by profiteering and energy-gulping manufacturing processes, in favour of a more sustainable model recalibrated on circular economy (CE) framework. The paper diagnosed the danger of relying on pandemic-driven benefits to achieving sustainable development goals and emphasizes a need for a decisive, fundamental structural change to the dynamics of how we live. Against this backdrop, this paper presents a critical review of the catalogue of negative and positive impacts of the pandemic and proffers perspectives on how it can be leveraged to steer towards a better, more resilient low-carbon economy. These measures have however shattered the core sustaining pillars of the modern world economies as global trade and cooperation succumbed to nationalist focus and competition for scarce supplies. ![]() Originating from China, cases quickly spread across the globe, prompting the implementation of stringent measures by world governments in efforts to isolate cases and limit the transmission rate of the virus. The World Health Organization declared COVID-19 a global pandemic on the 11th of March 2020, but the world is still reeling from its aftermath. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |