24/03/2020
COVID-19 has resulted in a global reduction of greenhouse gas emissions.
In China alone emissions have reduced by 25%, similar to the trend we saw during the 2008-9 financial crisis. Within a year of that crisis, however, government stimulus and relaxed environmental regulations resulted in CO2 emissions returning to an upward trajectory.
This time companies have been forced to drastically change the way they do business with employees working from home and meetings and events taking place digitally. If these changes remain in place we could see a big reduction in travel and construction of new office space, which will reduce global emissions permanently.
No one ever welcomes a crisis, but it has provided an opportunity for companies to change their thinking around travel and commuting and potentially reduce costs and emissions in the long-term. At the same time, however, our priority right now should be to do what we can to limit the spread of the virus and assist those in need in any way possible.
