Climate Change & Sustainability: Moving Forward from COVID-19
If there are some valuable lessons we can learn from battling through a global pandemic, it is that when faced with a global crisis, nations can work together, and industries can adapt and innovate. But as we hope that the current wave of global disaster recedes, another one — climate change — has been encroaching toward us with ever-increasing speed. Whether this wave will crash violently or hit more gently will depend on our actions.
In this issue of Modern Matters, we reflect upon the global pandemic and how we can look into technological and economical solutions for the next global threat of climate change.
What we can learn from COVID-19
We might think that our climate goals have been overshadowed by the pandemic. Fortunately, though, there is much in common between what’s happening in the pandemic and in climate change, and we can use this knowledge to dampen the impact of climate change. With the pandemic, experts and the lay public alike have been compelled to pay more attention to daily infection rates, to be more fluent in reading trend lines, digesting new scientific knowledge on the coronavirus, and embracing uncertainties. With climate change, the approach is similar. We need to reverse the trend of rising carbon emissions, make sense of new insights in climate science, and also be ready to respond to uncertainties.
However, unlike the pandemic which caught the world unprepared, we can continue to strengthen our climate policies and sustainability practices of industries to curb a catastrophic climate change. So, if how bad the impact of climate change depends on how much we prepare for it, then the faster we reduce net global carbon emissions to zero, the better off we will be. But how long do we have?
Previously, scientists have suggested in the latest IPCC report that we have 12 years to save the world, and before the timer runs out, it is crucial that we limit the average global temperature from rising by 1.5 degrees Celsius. Currently, the sentiment among climate experts, policy-makers and activists alike is that achieving such a bold target may not be possible, although there’s a glimmer of hope if we look at the technology and resources that are already here, and how businesses can do their part by embracing the circular economy.
In technology and innovation, we trust
While new technologies and innovation continue to deepen our understanding of the effects of climate change, it is also revealing new solutions. To this end of solution-seeking, Bill Gates, in his personal blog GatesNotes, said that science and innovation should continue to lead the way. Similar to how we needed new tests, treatments and vaccines for the novel coronavirus, we need new tools for fighting climate change. At present, there are many ways of reducing carbon emissions at a small scale, but no technology so far works on the stupendous scale required to reverse decades of fossil-fuel burning. Still, we’re pressing on and are seeing new technologies in development and testing.
Meanwhile, the lifestyle and work-related changes that we had to adopt due to the pandemic is leading us to develop and test new ideas in tackling climate change. Some of these ways help reduce carbon emissions from transportation — keep working from home, plan virtual meetings. Others involve building more climate-resilient infrastructure, such as seawalls and dikes to protect against flooding and rising sea levels.
Embracing the circular economy
On the note of work-related changes, let’s talk business and economy. Triggering the deepest global recession in decades, the pandemic has dealt long-lasting damage to the economy. Already, several countries have plunged into recession. In this case, surely it is more sensible and pragmatic to focus on economic growth rather than environmental stabilisation, or could there be a feasible way to achieve both?
One solution, which isn’t new, is for the industry to embrace the circular economy. In a circular economy, the goal is more than to merely recycle material. A circular economy seeks to use as few resources as possible — and from renewable sources — in the first place, deriving the most value out of the goods and services that run under this economic model. Yet, embracing the circular economy can seem easier said than done and even business leaders who wish to plug their firms and organisations into the circular economy might be pushed away by financial, operational, and technological barriers.
A circular economy seeks to use as few resources as possible — and from renewable sources — in the first place, deriving the most value out of the goods and services that run under this economic model.
Nonetheless, building a sustainable business that plugs into the circular economy is not impossible. To date, companies from startups such as the food tech company Impossible Foods to multinational companies such as the Swedish furniture giant IKEA are paving the way in leading sustainable yet profitable businesses.
At the crossroads of sustainability, business & tech
In all, the global pandemic has shed light on how much collective effort we can achieve when faced with a global threat. And as we look out into the sea of uncertainty, we do see the wave of climate change incoming. But unlike the pandemic which came crashing down unexpectedly and caught us off guard, we have a better sense of what we are up against and what we need to do. The story of climate change shall be different as we stand ready at the crossroads of sustainability, business and technology.
In line with the theme of exploring opportunities for sustainable growth in business and with technology, NewCampus is hosting a 2.5-hour conference on 18th September. The conference will feature climate change experts, policy-makers and business leaders across the region. Find out more about the conference and get your tickets here.
