Economic recovery post-COVID-19 by transitioning to green economy

Economic recovery post-COVID-19 by transitioning to green economy

Illustration - Environment-friendly buildings and urban design plays a significant role in the reduction of green house gas emission. ANTARA/Yudhi Mahatma/sh

The challenge for us is to conduct sustainable recovery through the low-carbon development program.
Jakarta (ANTARA) - The Ministry of National Development Planning/National Development Planning Board (Bappenas) is eyeing sustainable economic recovery post-COVID-19 through a low-carbon development program that would proffer long-term benefits to Indonesia.

"The challenge for us is to conduct sustainable recovery through a low-carbon development program," Bappenas Deputy for Maritime Affairs and Natural Resources Arifin Rudiyanto remarked during a virtual seminar here on Thursday.

Rudiyanto noted that the ministry will focus on sustainable economic recovery after taking a cue from the financial crisis during the 2008-2009 period wherein economic recovery had resulted in a spike in carbon dioxide (CO2) emissions worldwide.

Global CO2 emissions from the burning of fossil fuels jumped by 5.9 percent in 2010. The impact of the 2008-2009 global financial crisis on emissions has been short-lived owing to strong growth in emissions in emerging economies, a return to growth in emissions in developed economies, and an increase in the fossil-fuel intensity of the world economy.

This will result in high pollution and inefficiency in development, as the impact of high-carbon emission would last longer.

"The increased emission after the 2008-2009 crisis was a result of the economic stimulus and investment for economic growth that was directed toward the high-carbon industry," he remarked.

The government, in its working plan for 2021, has focused on four areas to facilitate economic recovery: tourism industry, investment, including in the food resilience system and improvement in the national health system, social protection system, and natural and non-natural disaster survival system.

In the short term, he noted that the government had prioritized efforts to save human lives from the impact of the deadly COVID-19 pandemic.

"Thereafter, we can rearrange the economy. The economic recovery will employ the principle of low-carbon development," he added.
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