This is what the world thinks about the idea of limiting COVID aid to green sectors

Jun 9, 2020

A wind turbine is seen near the village of Piansano, 90 km (60 miles) north of Rome, April 16, 2012. Several European Union nations have been scaling back subsidies for renewable energy, including solar, as they try to pare back public spending amid the EU sovereign debt crisis. The Italian government said last week it will cut financial incentives for solar and other renewable energy, unleashing an outcry from investors who say the changes will slow the industry's growth in Italy. To match Interview SOLAR-FUND/ REUTERS/Max Rossi (ITALY - Tags: ENERGY BUSINESS) - RTR30TFH

The winds of change? Image: REUTERS/Max Rossi

Joe Myers

Writer, Forum Agenda

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A new Ipsos survey looks at post-COVID-19 stimulus packages.
Support for limiting aid to sectors and businesses taking measures to reduce their impact on the environment is strongest in emerging economies.
The World Economic Forum is calling for a Great Reset.

In the wake of the COVID-19 coronavirus pandemic, people in emerging economies are more likely to favour limiting financial rescue packages to sectors and businesses reducing their environmental footprint, according to new data from Ipsos.

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The study asked nearly 20,000 adults in 27 countries about financial aid and incentives to boost economies – with particular focus on whether industries and businesses should be helped only if they've taken measures to reduce their negative impact on the environment.

Globally, opinion was split: 38% of respondents said aid should only be received if demonstrable measures have been taken to reduce carbon emissions and adverse impact on the environment; 36% said environmental impact shouldn't matter.

economic stimulus covid-19 coronavirus green

Going green? Image: Ipsos Global

A clearer picture in emerging economies

But people in emerging economies are much more in favour of limiting aid to industries that aren't making the shift to go green.

In China, for example, 77% were in favour, while more than half of respondents in Malaysia, Mexico, India and Peru held the same opinion.

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What is the World Economic Forum doing about the coronavirus outbreak?

Responding to the COVID-19 pandemic requires global cooperation among governments, international organizations and the business community, which is at the centre of the World Economic Forum’s mission as the International Organization for Public-Private Cooperation.

Since its launch on 11 March, the Forum’s COVID Action Platform has brought together 1,667 stakeholders from 1,106 businesses and organizations to mitigate the risk and impact of the unprecedented global health emergency that is COVID-19.

The platform is created with the support of the World Health Organization and is open to all businesses and industry groups, as well as other stakeholders, aiming to integrate and inform joint action.

As an organization, the Forum has a track record of supporting efforts to contain epidemics. In 2017, at our Annual Meeting, the Coalition for Epidemic Preparedness Innovations (CEPI) was launched – bringing together experts from government, business, health, academia and civil society to accelerate the development of vaccines. CEPI is currently supporting the race to develop a vaccine against this strand of the coronavirus.

A Great Reset

The World Economic Forum is calling for a Great Reset in response to the COVID-19 pandemic. The initiative is meant seize the current moment of transition to build a more fair, sustainable and resilient future, with a strong focus on tackling the climate crisis.

“We only have one planet and we know that climate change could be the next global disaster with even more dramatic consequences for humankind. We have to decarbonize the economy in the short window still remaining and bring our thinking and behaviour once more into harmony with nature,” said Professor Klaus Schwab, Founder and Executive Chairman of the World Economic Forum.

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The views expressed in this article are those of the author alone and not the World Economic Forum.