By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Lifestyle UgandaLifestyle Uganda
  • Home
  • News
    • International News & Politics
    • Education
    • Sports
    • Money & Finance
    • Mobile and Telecommunication
    News
    Lifestyle Uganda brings you the latest news and information on Africa, Wizkid, Azawi, and Eddy Kenzo right from the heart of the industry.
    Show More
    Top News
    Lycamobile Uganda data bundles and voice (1)
    Lycamobile Uganda: 4 Most Frequently Asked Questions & Answers
    5th November 2021
    Who is John Blaq: Biography, Profile and Life Story of Kashada John
    Who is John Blaq: Biography, Profile and Life Story of Kashada John
    19th September 2020
    Maro, Maurice Kirya Help German singer Mark Forster Cross Over With "Chip In"
    Maro, Maurice Kirya Help German singer Mark Forster Cross Over With “Chip In”
    17th November 2018
    Latest News
    $10,000 Donated by Exness to Help 2022 Nigerian Flood Victims
    20th January 2023
    Former Brazilian Minister of Sports Pele Died at the Age of 82
    30th December 2022
    37 Visa Exempt Countries to Uganda: A Complete List
    7th December 2022
    Who is Patrick Oboi Amuriat: Biography, Early Life, Family, Education, Career and Controversies
    28th November 2022
  • Business
  • Entertainment
    • Music
    • Celebrity
    • Biography
    • Lifestyle
      • Fitness
      • Pop Culture
      • Recipes
      • Travel/Culture
    Entertainment
    With Lifestyle Uganda Entertainment you will be able to get the latest news from Uganda, Nigeria, Kenya, South Africa entertainment, celebrity gossip, films, TV shows,…
    Show More
    Top News
    Lycamobile Uganda data bundles and voice (1)
    Lycamobile Uganda: 4 Most Frequently Asked Questions & Answers
    5th November 2021
    Who is John Blaq: Biography, Profile and Life Story of Kashada John
    Who is John Blaq: Biography, Profile and Life Story of Kashada John
    19th September 2020
    Bobi Wine and Barbie Share First Joint Magazine Cover
    Bobi Wine and Barbie Share First Joint Cover on Parents Magazine in Kenya
    3rd November 2018
    Latest News
    Nominations for the 2023 Oscars: Tems Nominated for Lift Me Up
    25th January 2023
    London’s Tottenham Hotspur Stadium to Host Massive Wizkid Show
    24th January 2023
    Tickets, Lineup, and Dates for Afro Nation Portugal 2023
    23rd January 2023
    Winners of the All Africa Music Awards 2022/2023: Burna Boy, Davido
    21st January 2023
  • Fashion
    • Beauty Trends
    • Accessories
    • Hair
    • Lipstick
    • Makeup
    • Skincare
    FashionShow More
    lifestyleuganda.com__Fenty Beauty appoints Nikita Kering as brand ambassador (1)
    Rihanna’s Fenty Beauty Appoints Nikita Kering As Brand Ambassador
    1st June 2022
    nowthendigital.com__Balenciaga to accept cryptocurrency payments (1)
    Fashion Label Balenciaga to Accept Cryptocurrency Payments in the U.S.
    28th May 2022
    Nicki Minaj at met gala 2022 (1)
    See Nicki Minaj, Hillary Clinton, Elon Musk, Alicia Keys and More at the 2022 Met Gala
    3rd May 2022
    lifestyleuganda.com-Judith Heard wins Miss Environment Africa International
    Judith Heard wins Miss Environment Africa International in India
    4th April 2022
    lifestyleuganda.com__judith heard india miss environment contest (1)
    Miss Environment International 2022: Judith Heard arrives in India
    22nd March 2022
  • Health & Living
  • Tips & Advice
Search
© 2023 Lifestyle Uganda. All Rights Reserved.
Reading: COVID-19 pandemic: Ecological lessons to prevent future economic crisis
Share
Sign In
Notification Show More
Latest News
ashwagandha benefits
Ashwagandha: What Is It and How Does It Work?
Health & Living
Tems at 2023 Oscar nominations
Nominations for the 2023 Oscars: Tems Nominated for Lift Me Up
Entertainment Music
Wizkid announces London Date 29th July 2023
London’s Tottenham Hotspur Stadium to Host Massive Wizkid Show
Entertainment Music
burna boy afro nation 2023
Tickets, Lineup, and Dates for Afro Nation Portugal 2023
Entertainment Music
burna boy all africa music awards 2022 winners
Winners of the All Africa Music Awards 2022/2023: Burna Boy, Davido
Entertainment Music
Aa
Lifestyle UgandaLifestyle Uganda
Aa
  • Home
  • News
  • Business
  • Entertainment
  • Health & Living
Search
  • Home
  • News
    • International News & Politics
    • Education
    • Sports
    • Money & Finance
    • Mobile and Telecommunication
  • Business
  • Entertainment
    • Music
    • Celebrity
    • Biography
    • Lifestyle
  • Fashion
    • Beauty Trends
    • Accessories
    • Hair
    • Lipstick
    • Makeup
    • Skincare
  • Health & Living
  • Tips & Advice
Have an existing account? Sign In
Follow US
© 2023 Lifestyle Uganda. A Now & Entertainment Media Company. All Rights Reserved.
Lifestyle Uganda > Blog > Business > COVID-19 pandemic: Ecological lessons to prevent future economic crisis
BusinessEditorialTips

COVID-19 pandemic: Ecological lessons to prevent future economic crisis

Josephine Wawira
Last updated: 2020/04/28 at 6:12 PM
Josephine Wawira
Share
5 Min Read
covid-19 prevent future economic crisis (1)
Ecological lessons to prevent future economic crisis. Uploaded by Josephine Wawira
SHARE
covid-19 prevent future economic crisis (1)
Ecological lessons to prevent future economic crisis. Uploaded by Josephine Wawira

COVID-19: Ecological lessons to prevent future economic crisis due to a pandemic

The COVID-19 pandemic has made it abundantly clear that there is a very strong relationship between ecology and economy. To prevent future economic crisis due to the annihilation of resilient ecosystems, any assessment of a company’s performance should include an analysis of its impact on nature.

According to experts from the World Economic Forum ecosystems, the disturbance has significantly increased the risk of pandemics. 

Human activities like deforestation, pollution, unsustainable land use, global warming and the ever-growing international transportation of both people and goods have led to a world in which viruses are not only transmitted from animals to humans more often but are also easily spread around the globe.

Economic depression is likely

Economic activities thus increase the risk of pandemics, but pandemics also have a huge impact on economic activities. COVID-19 has resulted in an economic meltdown that can only be compared with the effects of war. 

- Advertisement -

Not even the 2008 financial crisis has had this impact on sales, household incomes and the world’s GDP. A severe and long-lasting global economic depression is very likely, threatening the development of Africa.

SEE ALSO  The Definitive Guide to Moringa Benefits For Men

All efforts by governments and companies are now focused on containing the virus and finding a cure and a vaccine. Along with this medical approach, measures are taken to alleviate the economic consequences for companies and households. 

The mandatory use of facemasks, the curfew, suspension of air travel, tax cuts and the waiver of M-Pesa transaction fees by Safaricom, for example, all are aimed to reduce the burden to the citizenry between the initial outbreak and a post-corona situation.

Respect for ecological boundaries

To reduce the risk of a similar pandemic paralyzing the world economy in future, an entirely different set of measures is required. To respect ecological boundaries.

One way to balance economy and ecology is ‘degrowth’, a strategy that focuses on downscaling of production and consumption to fight environmental issues.

- Advertisement -

A contraction of the economy would decrease the pressure on ecology.

Less air traffic means less pollution; less transport leads to a reduction of greenhouse gas emissions; less production reduces the need for scarce natural resources. 

SEE ALSO  Shelter Afrique Approves USD13 Million Credit Line for Mixta Africa

The economy comes to a standstill, nature recovers. This is exactly what we are experiencing now because of COVID-19, and it is not a situation many people are happy with.

- Advertisement -

Business and ecology are interlinked

The other option is to change the way the economy works and secure a thriving society without devastating the very planet we are dependent on. 

However obvious this may sound; it is easier said than done. It is not difficult to understand that pandemics are bad for business but aligning business activities with nature in practice still is very challenging. 

There are very few companies which can precisely describe their dependence on ecological processes and biodiversity, or what impact they have on nature and ecosystems.

This lack of business knowledge about ecology, nature and ecosystems, and the way this interacts with economic activities, global trade and use of natural resources must be addressed if we want to prevent any future virus to force us to experience an economic crash again.

SEE ALSO  The Meaning of Anklets Based on Their Colour

Our health is our wealth

Therefore, it is key that every entrepreneur, every banker, accountant, investor and shareholder understand the connection between economic activities and nature. 

Not only on a global level but also the level of individual companies. The dependence on natural resources and the impact on the environment should be part of every risk assessment and annual report. 

It should be discussed when applying for credits, it should be part of the financial analysis of every company.

If not, it is just a matter of time before the next virus not only ruins our health but also our wealth.

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • Click to share on WhatsApp (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • More
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Tumblr (Opens in new window)

Related

You Might Also Like

Nominations for the 2023 Oscars: Tems Nominated for Lift Me Up

London’s Tottenham Hotspur Stadium to Host Massive Wizkid Show

Tickets, Lineup, and Dates for Afro Nation Portugal 2023

Winners of the All Africa Music Awards 2022/2023: Burna Boy, Davido

BRIT Awards 2023 nominated Burna Boy and Fireboy DML

TAGGED: 2008 financial crisis, COVID-19 economic crisis, COVID-19 future economic crisis, COVID-19 pandemic, COVID-19 pandemic Ecological lessons, COVID-19 prevent future economic crisis, Ecological lessons future economic crisis, Ecological lessons to prevent economic crisis, Pandemic prevent future economic crisis, prevent future economic crisis

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Josephine Wawira 28th April 2020
Share this Article
Facebook Twitter Whatsapp Whatsapp Reddit Copy Link
Share
By Josephine Wawira
Follow:
A Communications Officer at Sustainable Inclusive Business Kenya, with over 6 years of progressive writing and broadcast experience. Mobile: +254 710374677 / +254 784130225
Previous Article Product Placement in Marketing COVID-19 Pandemic Product Placement in Marketing During COVID-19 Pandemic
Next Article Restaurants Open in Tennessee Restaurants Open in Tennessee Despite New COVID-19 Cases
Leave a comment Leave a comment

Leave a Reply Cancel reply

Stay Connected

45.2k Followers Like
5.1k Followers Follow
213 Followers Pin
35.6k Followers Follow
11k Subscribers Subscribe
400 Followers Follow
- Advertisement -

Latest News

ashwagandha benefits
Ashwagandha: What Is It and How Does It Work?
Health & Living 25th January 2023
Tems at 2023 Oscar nominations
Nominations for the 2023 Oscars: Tems Nominated for Lift Me Up
Entertainment Music 25th January 2023
Wizkid announces London Date 29th July 2023
London’s Tottenham Hotspur Stadium to Host Massive Wizkid Show
Entertainment Music 24th January 2023
burna boy afro nation 2023
Tickets, Lineup, and Dates for Afro Nation Portugal 2023
Entertainment Music 23rd January 2023

Follow Us

//

At Lifestyle Uganda, we inform, entertain, and inspire action through the content we create — empowering you to live a celebrity life.

Quick Link

  • Home
  • News
  • Business
  • Entertainment
  • Health & Living

Top Categories

  • About Us
  • Send a Tip
  • Terms of Use
  • Privacy Policy
  • Contact

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

I have read and agree to the terms & conditions
Lifestyle UgandaLifestyle Uganda
Follow US

© 2023 Lifestyle Uganda. A Now & Entertainment Media Company. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

I have read and agree to the terms & conditions
Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
 

Loading Comments...
 

    Welcome Back!

    Sign in to your account

    Lost your password?