The world’s publicly financed development banks have pledged to tie together their efforts to rescue the global economy from the Covid-19 crisis and the climate emergency, using their financial muscle to assist a green recovery for poor countries.
COVID-19 is highlighting the importance of risk and resilience, and as the world focuses on recovery, it is important to not lose sight of climate risk. The Earth’s climate is changing after more than 10,000 years of relative stability, and Asia is on the front line. Climate science tells us that, absent adaptation and mitigation, the climate hazards the region faces in the future, from heat waves to flooding, are likely to be more severe, more intense, or both. The impacts in Asia in some cases could be more severe than in many other parts of the world. As Asia seeks to grow its economy—and remain a key source of growth for the world—climate is thus a critical challenge that the region will need to manage.
A virus a thousand times smaller than a dust mote has humbled and humiliated the planet’s most powerful nation. America has failed to protect its people, leaving them with illness and financial ruin. It has lost its status as a global leader. It has careened between inaction and ineptitude. The breadth and magnitude of its errors are difficult, in the moment, to truly fathom. It’s what happens in the complete absence of risk thinking.
Pricing climate risks – by using Riskthinking.AI methodology -underscores the importance of addressing climate change in recovery plans. The EU’s green recovery plan sets a good example and we hope other nations follow suit in developing green recovery packages that continue to advance climate goals.
The current pandemic is illuminating the innumerable ways in which human and environmental health are enmeshed, and how those dimensions are sharpened in the context of climate change The complexity that characterizes multiple interacting systems generates high degrees of uncertainty and non-linearity, making planning for recovery a challenge. Underpinned by the latest climate science Riskthinking.AI offers a powerful algorithmic approach for tackling this uncertainty head on.