Sustainability after COVID-19: pillars for a just transition

Area of Science:

• Economics
• Environmental Science
• Sociology

Background:

• The COVID-19 pandemic has exposed the fragility of the global economy.
• There is an urgent need for long-term strategies and innovative approaches to development and economic prosperity.
• The pandemic necessitates fundamental economic and societal restructuring.

Purpose of the Study:

• To outline principles for economic and development policy in the post-COVID-19 era.
• To propose a framework for rebuilding the global economy based on shared sustainable prosperity.
• To integrate ecological, social, and economic dimensions for long-term stability.

Main Methods:

• Development of five core principles, termed 'pillars', for economic reconstruction.
• Framing sustainability through a triple bottom line approach (economic, social, environmental well-being).
• Incorporating principles of distributive and procedural justice, community engagement, and ecological limits.

Main Results:

• The proposed five pillars are: (I) ecological prosperity, (II) a decarbonized economy, (III) a shared cost burden, (IV) a governance new deal, and (V) just resilience.
• Recognizes sustainability as encompassing environmental, social, and economic factors for societal stability.
• Highlights the post-COVID-19 rebuilding phase as a critical opportunity for sustainable development.

Conclusions:

• The five pillars offer a roadmap for a more sustainable global economy post-pandemic.
• Rebalancing economic, social, and environmental domains is crucial for addressing long-term crises like climate change and biodiversity loss.
• Emphasizes a generational opportunity to shift towards sustainable development pathways through community empowerment and respect for planetary boundaries.