COVID-19, Climate Change and Economic Stimulus Packages

The COVID-19 pandemic makes the vulnerability and systemic risks of complex, interconnected and global economic structures visible. Systemic risks and vulnerability of existing structures are not only present for pandemic events, but also apply to other possible disturbances, such as the foreseeable climate crisis. Thus, the experience gained from the COVID-19 pandemic on the vulnerability of our economic system must be used to avoid climate risks. Reports that the measures taken to contain the speed of spread of the SARS-CoV-2 and thus the COVID-19 crisis will lead to a reduction in emissions must be viewed critically: it is not the emissions of a year that determine the effect on the climate, but the concentration of greenhouse gases in the atmosphere. In order to actually achieve a reversal of the trend in greenhouse gas emissions must be permanently reduced both in Austria and worldwide with structurally effective measures. Accordingly, the government measures and budgetary support for coping with the COVID-19 crisis must be set in such a way that they also contribute to mitigating climate change and make our economic system less vulnerable.