The Green Recovery Act

The World Economic Forum (WEF) has released the ‘Global Risks Report’ and once again the climate crisis is ranked as the world's biggest risk on an international scale, in terms of likelihood and the severity of their impacts. According to the report, in the next 24 months extreme weather is the top global risk, followed by the livelihood crisis caused by Covid-19 and the risks of climate inaction.

Green recovery is a proposed package of environmental, regulatory, and recovery prosperity in the wake of the COVID-19 pandemic. There has been a 1°C temperature increase since pre-industrial levels. The overarching purpose of green recovery is to help combat the effects of the economic recession caused by COVID-19, while also implementing renewable energy to address climate change, including the reduction of coal, oil, and gas use, clean transport, renewable energy, eco-friendly buildings, and sustainable corporate or financial practices.UK, USA, and other countries have green for this proposal. Zurich Insurance Group’s chief risk officer Peter Giger said: “The climate crisis remains the biggest long-term threat facing humanity. Failure to act on climate change could shrink global GDP by one-sixth and the commitments made at COP26 are still not enough to achieve the 1.5C goal.

It is not too late for governments and businesses to act on the climatic risks. Climate change is our next big challenge, and it’s around the corner. Achieving net-zero emissions requires rapid economic, social, and technological transformations. Many countries are taking action, but progress is insufficient to achieve the goals of the Paris Agreement.

In times like these, ENPOSS is along with every individual to support the energy usage reduction and to help control climatic change by reducing carbon emissions.