A perspective of COVID 19 impact on global economy, energy and environment
S. Shanmuga Priya, Erdem Cüce, K. Sudhakar
Abstract
COVID-19 or novel coronavirus is not only an international emergency for public health but also has significant consequences on energy, economy, and environment. Although much of the World’s attention is understandably focused on COVID-19’s human toll, the outbreak’s economic toll also potentially has catastrophic implications and has disrupted all the leading economies. Consequently, the energy market has plunged, leading to an oil supply surplus and a decline in the price. Policymakers also examine the impacts of COVID-19 on the energy market and its relation to the ongoing transition to renewable energy. Against this backdrop, this paper helps in summarising the impact of COVID-19 on economy, energy and environment. Besides, it provides some critical recommendations and policy measures for the energy sector to overcome the challenges from the impact of COVID-19.