Duality of the pandemic Duality of the pandemic http://www.federatedinvestors.com/static/images/fhi/fed-hermes-logo-amp.png http://www.federatedinvestors.com/daf\images\insights\video\road-gravel-sunset-small.jpg April 16 2021 April 16 2021

Duality of the pandemic

Despite staggering loss and ongoing challenges, the light at the end of the tunnel illuminates surprising environmental impact.

Published April 16 2021
My Content
Infographic published April 16, 2021. Title: Duality of the pandemic Duality of the pandemic. Despite staggering loss and ongoing challenges, the light at the end of the tunnel illuminates surprising environmental impact. Global carbon dioxide emissions plunged almost 2 billion metric tons in 2020, the largest nominal decline in history. Global oil usage fell 8.6%, its biggest annual decline ever. Decreased air travel accounted for 35% of the drop in global oil demand. United States 12-month total vehicle miles traveled fell 14% in 2020. While car sales fell 15% globally in 2020, sales in the electric car sector grew 40%. Power generation carbon dioxide emissions fell 3.3%, the largest drop on record. Looking ahead, some environmentally friendly habits may continue after the pandemic. Up to 25% of workers may permanently work from home 3-5 days a week – 4 to 5 times more remote work than before the pandemic. On average, executives plan to reduce office space by 30%. About 20% of business travel may not return. Information sources for this graphic included: International Energy Agency (IEA), 2021; United States Federated Highway Administration/Federal Reserve Bank of St. Louis, 2021; International Civil Aviation Organization, 2021; McKinsey Global Institute, 2021