Amidst travel restrictions, slogging retail footfall, partially operating factories in China — the coronavirus’ near-term and long-term impact on the fashion industry is a hot-button discussion.
And it unwittingly calls attention to another macroeconomic risk: climate change.
Already claiming thousands of lives, and counting nearly 80,000 confirmed cases worldwide, the epidemic’s undue impact on China’s carbon dioxide emissions became a point of analysis for scientists in a report released last week.
The climate nonprofit Carbon Brief found China’s carbon dioxide emissions dropped by as much as “25 percent or more,” from 400 million metric tons to 100 million metric tons of CO2, compared to the same two-week period following the Chinese new year holiday in 2019.
Because of precautionary canceled or suspended flights, the International Council on Clean Transportation estimates an 11 percent cut in global CO2 emissions from passenger flights in the same period.
All told, it’s the equivalent to a 6 percent reduction of global emissions over the same period, reaffirming the environmental impact of industrial output, especially with respect to daily coal and crude oil consumption.
Although a temporary and imprecise indicator as to how the country is sputtering back to business as usual, major multinational financial institutions are seeming to prioritize climate
And it unwittingly calls attention to another macroeconomic risk: climate change.
Already claiming thousands of lives, and counting nearly 80,000 confirmed cases worldwide, the epidemic’s undue impact on China’s carbon dioxide emissions became a point of analysis for scientists in a report released last week.
The climate nonprofit Carbon Brief found China’s carbon dioxide emissions dropped by as much as “25 percent or more,” from 400 million metric tons to 100 million metric tons of CO2, compared to the same two-week period following the Chinese new year holiday in 2019.
Because of precautionary canceled or suspended flights, the International Council on Clean Transportation estimates an 11 percent cut in global CO2 emissions from passenger flights in the same period.
All told, it’s the equivalent to a 6 percent reduction of global emissions over the same period, reaffirming the environmental impact of industrial output, especially with respect to daily coal and crude oil consumption.
Although a temporary and imprecise indicator as to how the country is sputtering back to business as usual, major multinational financial institutions are seeming to prioritize climate
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