The COVID-19 crisis impacts the world’s poorest and most vulnerable hardest, with significant intergenerational implications for poor and low-income families. As demonstrated during the 2008 financial crisis, countries with strong social protection systems and basic services suffered the least and recovered the fastest. People everywhere must have access to social services and social protection, jobs, business and livelihoods must be protected.
Investments in recovering from COVID-19 need to focus on sustainable jobs and sectors. Recent findings show that non-fossil fuel technologies create more jobs per unit energy than coal and natural gas. The International Renewable Energy Agency (IRENA) estimates that decarbonizing the world economy by 2050 would boost cumulative global GDP gains by US$98 trillion between now and 2050, quadrupling renewable energy jobs to 42 million, with higher gender parity than traditional sectors.