Balancing Health, Economy and Climate Risk in a Multi-Crisis

Abstract

In the presence of a global pandemic (COVID-19), the relentless pressure on global decision-makers is to ensure a balancing of health (reduce mortality impacts), economic goals (income for livelihood sustenance), and environmental sustainability (stabilize GHG emissions long term). The global energy supply system is a dominant contributor to the GHG burden and deeply embedded in the economy with its current share of 85%, use of fossil fuels has remained unchanged over 3 decades. A unique approach is presented to harmonizing the goals of human safety, economic development, and climate risk, respectively, through an operational tool that provides clear guidance to decision-makers in support of policy interventions for decarbonization. Improving climate change performance as an integral part of meeting human development goals allows the achievement of a country’s environmental, social, and economic well-being to be tracked and monitored. A primary contribution of this paper is to allow a transparent accounting of national performance highlighting the goals of enhancing human safety in concert with mitigation of climate risks. A measure of a country’s overall performance, combined as the Development and Climate Change Performance Index (DCI), is derived from two standardized indexes, the development index H and the Climate Change Performance Index CCPI. Data are analyzed for 55 countries comprising 65 percent of the world’s population. Through active management and monitoring, the proposed DCI can illustrate national performance to highlight a country’s current standing, rates of improvement over time, and a historical profile of progress of nations by bringing climate risk mitigation and economic well-being into better alignment.