Utilizing basic income to create a sustainable, poverty-free tomorrow

• Published in: Cell Reports Sustainability Vol. 1; no. 6; p. 100104
• Main Authors: Sumaila, U. Rashid, Wabnitz, Colette C.C., Teh, Louise S.L., Teh, Lydia C.L., Lam, Vicky W.Y., Sumaila, Haske, Cheung, William W.L., Issifu, Ibrahim, Hopewell, Kristen, Cinner, Joshua E., Bennett, Nathan J., Folke, Carl, Gulati, Sumeet, Polasky, Stephen
• Format: Journal Article
• Language: English
• Published: Elsevier Inc 01.06.2024; Elsevier
• Subjects: basic income; climate change impacts; economic impact; economic inequality; environmental and economic shocks; environmental degradation; global; poverty alleviation; societal vulnerabilities; sustainable development; societal vulnerabilities; sustainable development; environmental and economic shocks; economic inequality; basic income; economic impact; climate change impacts; poverty alleviation; global; environmental degradation
• ISSN: 2949-7906; 2949-7906
• DOI: 10.1016/j.crsus.2024.100104

The coronavirus disease 2019 (COVID-19) pandemic of 2020 was a reminder of society’s vulnerability in the face of natural upheavals, leading to widespread unemployment and increased poverty. Simultaneously, human activities have precipitated large-scale environmental degradation and catastrophic climate change. Here, we conduct a global-scale, 186-country analysis examining the potential impact of basic income (BI) as a two-pronged solution to both sustainability and social resilience. We reveal BI’s potential to bolster economies, particularly in times of crisis. To lower the huge barrier imposed by implementation costs, we suggest a diverse array of strategies aimed at financing BI, strategically designed to concurrently alleviate economic insecurity while fostering nature conservation. We suggest that BI implementation is feasible and could be a potent tool in addressing the twin challenges of decreasing worldwide poverty while reducing environmental degradation—a nexus that arguably constitutes the paramount global challenge of our times. [Display omitted] •The COVID-19 pandemic underscored society’s vulnerabilities to shocks•Human activities have contributed to climate change and environmental degradation•Highlights the potential of basic income to tackle sustainability and poverty•With appropriate strategies, basic income can bolster economies during times of crisis Basic income (BI) involves unconditional, regular cash disbursements to either a segment or to the total population. In this study, the authors conduct a global analysis examining the potential impact of BI as a two-pronged solution to both environmental sustainability and social resilience. The authors show that BI can potentially bolster economies. To lower BI implementation costs, the authors suggest a range of strategies aimed at financing BI, strategically designed to concurrently alleviate economic insecurity while fostering nature conservation. The authors argue that BI implementation is feasible and could be a potent tool in addressing the twin challenges of decreasing worldwide poverty while reducing environmental degradation. Basic income (BI) can contribute to bolstering economies and improving environmental conditions. We conduct a global analysis examining the economic impacts and costs of BI. We find that BI implementation is feasible and could be a potential solution for addressing the dual challenges of decreasing worldwide poverty while reducing environmental degradation.