Speech prepared for delivery at the 2021 ECOSOC Integration Segment discussion on ‘Building back better towards inclusive, sustainable, and just economies for recovery’: Re-designing the contract between people and planet’
Thank you to the United Nations Economic and Social Council (UNECOSOC) for organizing this panel and to Maria Francesca Spatolisano, Assistant Secretary-General for Policy, Department of Economic and Social Affairs, for her introduction.
Everyone here agrees that COVID-19 recovery spending can accelerate action on Agenda 2030, the Paris Agreement, and other critical agendas. This boils down to stimulus policies that are job rich; that support recovery through decarbonization, that back nature and that tackle pollution. Such policies can also address growing inequalities, improve health, increase food security and so much more.
Have we been backing such policies? No. In 2020, only 18 per cent of recovery spending and 2.5 per cent of total spending in 50 major economies had positive green characteristics. We need to do better, which means investing in five areas.
One, clean and efficient energy.
We must provide energy equity and connectivity for everyone, while reducing greenhouse gas emissions and air pollution. This means prioritizing clean, renewable energy alongside concerted efforts to improve energy efficiency.
Two, clean transport.
We need to promote electric and hybrid vehicles. Mass transit, cycling and walking. Replace short domestic flights with rail journeys, and much more.
Three, green buildings.
If we green the construction sector and retrofit buildings for energy efficiency, we can help reduce the sector’s planetary impact, create jobs and improve living conditions.
Four, natural capital
Nature-based solutions – such as ecosystem restoration and green infrastructure – are critical to fighting and adapting to climate change and restoring biodiversity. In the UN Decade on Ecosystem Restoration, we have an additional opportunity to pick up the pace.
Five, sustainable consumption and production; supporting circularity.
Investments in clean R&D can create innovative technologies and solutions that support circularity, sustainable agriculture, cleaner industries and other areas.
Efforts in these five areas need to be followed by reforms that address key market failures in pricing externalities. This means accounting for nature in all economic decisions. We must also show solidarity by supporting developing nations on everything from climate resilience to natural capital. And we need to continue to invest in digital technologies that are accessible to all, so that we narrow the digital divide.
And all of this must start happening at a larger scale now. We have largely wasted a year. We can’t afford to waste another to kick-start the accelerated action we need to create a peaceful and prosperous world that lives in harmony with nature.
Thank you.
Executive Director
