The first is the requirement, in Article 2 of the Paris Agreement, to « reconcile financial flows with a means of reducing greenhouse gas emissions and climate-resilient development. » In other words, making the money spent so that we can stay within the 1.5-C temperature target that scientists tell us is essential to the survival of my country. This is the standard by which all cyclical expenditures must be assessed. This figure summarizes these figures for a) the world as a whole and c) the United States, the EU, India and China. Map (b) shows the size of each stimulus package for each region of the world where blue bubbles indicate stimulus as a percentage of GDP. Our analysis shows very concretely that the more ambitious goal of the Paris agreement to limit global warming to 1.5oC is still within reach. Decisive leadership, rapid action and informed use of scientific advice seem to be a good recipe for dealing with the Covid 19 crisis and our warm climate. This represents about 15% of the world`s gross domestic product (GDP), and several times more than after the global financial crisis of a decade ago. This would not mean that energy systems will be fully decarbonized within five years, but that the global economy would have taken an important and positive step towards limiting climate change through these annual investments. Andrijevic, M.
et al. (2020) Covid-19 Recovery Funds Dwarf Clean Energy Investment Needs, Science, doi:10.1126/science.abb1970 « But this is clearly also a great opportunity. I call on governments, businesses and individuals – especially those with the most climate footprints – to take this opportunity to protect our climate and nature for decades to come. Adapt existing anticipatory measures, early warning mechanisms and response funding to a wider range of threats, including pandemics, and further improve their design and implementation. While the Covid-19 restrictions have led to a reduction in CO2 emissions, they will recover and the world will warm by more than 3oC this century, without a coordinated and ambitious global approach to the green recovery. Emissions may eventually decrease until 2030 due to the pandemic, but this would not be enough for the alignment of Paris and could be at the expense of economic success.