Why Is Green Economy Crucial for Central Europe Right Now?

This article was originally written for Aspen Institute Central Europe’s annual conference, The Shape of Central Europe 2020, which took place (online) on 19th November, 2020. For more information, head to AI’s website. ->

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Humanity has evolved around nature, which is why we constantly feel the urge to connect with it. Decades-long studies have indeed proven that spending time in nature has positive effects on people’s health: as little as two hours somewhere in the woods can significantly reduce stress, lower blood pressure, and improve our mental well-being.

One thing that the pandemic hasn’t managed to smother is the human inner need for anything green. Perhaps you wondered – stuck in your homes in the middle of the lockdown that sent global economy into historic mayhem – how to  get away from all that stress, if only to a nearby park. Sales of basically anything related to nature – from house plants, cottages to entire islands in the Caribbean – have spiked by numbers even Google Trends couldn’t follow. While busy stitching face masks and getting groceries for our elderly neighbours in the extraordinary atmosphere with almost war-time nostalgia, we realized how important nature was, more than ever before.

Despite initial hesitation, business opportunities with sustainability at heart have proliferated with unparalleled drive. Yet despite signs from both the public and the business sector suggesting that protecting nature should in fact be on top of government priorities, representatives from Central Europe called to abandon the EU Green Deal in order to finally focus on solving real-world problems instead of trying to save the planet.

The problem with climate crisis is – to quote Mark Carney, former Governor of the Bank of England – that it imposes cost on future generations which the current generation has no direct incentive to fix. But it should not be forgotten that the economic struggle caused by this pandemic is a direct result of the devastating impact humans have brought upon the environment, from deforestation, biodiversity loss to polluted air.

Restoring economies post-COVID won’t be possible if we choose to ignore the urgent calls for further environmental protection. Preventing natural disasters is cheaper than coping with them. And that means protecting biodiversity, promoting sustainability, and supporting businesses that choose to follow principles of circular economy.

For the states of Central Europe, going green is not a useless caprice but a fundamental necessity. Through growing into greener economies, we have a unique chance to benefit from the increasing number of business opportunities while creating a better future for the present generations as well as for those ahead.