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Since our last  GGKP Knowledge Update , the coronavirus (COVID-19) has changed our lives and our economies.  With many countries closing their borders and imposing strict quarantine measures to stop the spread, the global pandemic has halted business operations in ways that were unimaginable a few short weeks ago.  The socioeconomic impacts of these containment efforts are likely to be felt for years to come. 

Leading global organizations are responding quickly with policy frameworks, data and analyses, fast-track funding and projects on the ground to cope with the twin crisis and cushion the ripple effects on people's lives and livelihoods in the real economy.  There is a widespread call for multilateral coordination and support for the most vulnerable people and countries.

Responding to leaders' calls for recovery strategies to lead to a different economy that  must be both green and inclusive, t he GGKP has created dedicated COVID-19 web spaces on our policy-focused Green Growth Knowledge Platform Green Industry Platform  and Green Finance Platform  to share the latest knowledge as it becomes available. 

The GGKP commends the global community's efforts to address the collective challenge of responding to COVID-19, and encourages our partners and the broader network to share lessons and work in collaboration towards a more prepared, resilient and sustainable economy.

GGKP partners respond to COVID-19
UN Calls for coordinated, multilateral response to Socioeconomic Impacts
The United Nations has released the report, "Shared Responsibility, Global Solidarity: Responding for the Socioeconomic Impacts of COVID-19." The report calls for large-scale, coordinated and comprehensive multilateral response to the pandemic with a focus on people - women, youth, low-wage workers, small and medium enterprises, the informal sector and vulnerable groups. The report emphasizes the need to "build back better", in line the 2030 Agenda and the 17 Sustainable Development Goals, and that inclusive and sustainable economies will enable better responses to future crises.


OECD offers policy responses and joint actions on COVID-19 
Alongside the new OECD Outlook on the Global Economy, the Organisation for Economic Cooperation and Development (OECD) has compiled data, analysis and recommendations in a series of policy response documents to contribute to the global response to COVID-19. These span topics from health to education and taxes, with an environment-focused paper outlining immediate steps governments can take to ensure that emergency measures do not derail efforts to address pressing environmental challenges and improve the environmental health and resilience of societies.  The policy responses are complimented by a call for a set of joint actions to be taken at sub-national, national and international levels.  


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UNIDO partners with local businesses and entrepreneurs to deliver emergency supplies in Tunisia and China
In Tunisia, entrepreneurs supported by UNIDO's Mashrou3i project are producing face masks, disinfectant gel and automatic dispensers to help stop the spread of COVID19. UNIDO's Investment and Technology Promotion Office in Shanghai has also partnered with the White Rhino Auto company to deploy unmanned vehicles to transport medical supplies, deliver meals and complete other emergency tasks at Wuhan's Guanggu Field Hospital. 


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The World Bank has approved a first set of emergency support operations for developing countries around the world, using a dedicated, fast-track facility for COVID-19 response. The first group of projects, amounting to $1.9 billion, will assist 25 countries, and new operations are moving forward in over 40 countries using the fast-track process. The World Bank is also redeploying resources in some of its existing projects worth up to $1.7 billion, including through restructuring, use of emergency components of existing projects (CERCs) and triggering of  Catastrophe Deferred Drawdown Option (CAT DDOs) and spanning every region.


ILO releases policy response framework for COVID-19
In times of crisis, International Labour Standards provide a strong foundation for key policy responses that focus on the crucial role of decent work in achieving a sustained and equitable recovery. In this policy note, the ILO provides a policy framework for addressing COVID19 with three pillars: 

 

Protecting workers in the workplace by strengthening Occupational Safety and Health (OSH) measures, adapting work arrangements (e.g. teleworking), preventing discrimination and exclusion, providing health access for all, and expanding access to paid leave.

 

Stimulating the economy and labour demand through active fiscal policy, accommodative monetary policy, and lending and financial support to specific sectors, incl. the health sector.

 

Supporting employment and incomes by extending social protection for all, employment retention - short-time work, paid leave, and other subsidies, and financial/tax relief for micro, small and medium-sized enterprises (MSMEs). 



Insights on COVID-19 recovery
Low-carbon investments can help economies recover
"What governments should avoid is trying to boost their economies in the wake of one global health crisis by exacerbating another, namely air pollution. A stimulus package that includes ramping up fossil fuel production or use would do exactly this," says Helen Mountford, Vice-President, Climate & Economics at the World Resources Institute (WRI).


Supply chains are being tested by COVID-19: Next up, the climate test
"Building resilience in our supply chains will help prepare Canada for the next pandemic, but will also help brace the Canadian economy for the expected shocks emerging from climate-related events around the world. Government and businesses would be wise to heed the lessons currently being learned from the pandemic, and to make our supply chains more resilient for the big climate test that lies ahead,"  says Katherine Monahan Senior Research Associate at the Smart Prosperity Institute (SPI).

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Thinking ahead: For a sustainable recovery from COVID-19
"If we get it right, the response to COVID-19 may not only minimize pain and suffering now, but can also build the foundation for a greener, safer, and more prosperous future,"  says Stéphane Hallegatte, lead economist with the Global Facility for Disaster Reduction and Recovery (GFDRR) at the World Bank, and Stephen Hammer, Global Director of the World Bank's Climate Change team.











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About the GGKP
The Green Growth Knowledge Partnership ( GGKP ) is a global community of organizations and experts dedicated to providing the policy, business and finance communities with knowledge, data, guidance and tools to transition to an inclusive green economy through the policy-focused Green Growth Knowledge Platform, Green Industry Platform and Green Finance Platform. The GGKP is led by the Global Green Growth Institute ( GGGI ), Organisation for Economic Co-operation and Development ( OECD ), United Nations Environment Programme ( UNEP ), United Nations Industrial Development Organization (UNIDO) and World Bank Group .