Disruption in global supply chain and socio-economic shocks: a lesson from COVID-19 for sustainable production and consumption

Abstract

The novel COVID-19 has emerged as a severe threat to global health globally, affecting over 210 countries and regions. The profound dilemma interrupted global trade and social activities and enormously influenced daily lives through social distance and confinements. The outbreak of COVID-19 has exacerbated human misery due to the crippling of economies globally. The effects are substantial on health, economy, environment, and society. Nearly every country is trying to prevent the transmission of this communicable disease. Remedial policies include testing and treating patients, isolating suspects through contact tracking, banning public gatherings, and asserting a complete or partial shutdown. In this context, the present paper's core objective is to investigate the impact of the COVID-19 pandemic on the environment and energy market, society, economy, and global protective measures taken to reduce COVID-19 transmission. The study's main contribution is revealed lessons to provide insights for business and the efficacy of governments’ initiative globally. Finally, this paper describes future actions for governments, leaders, energy providers, and all stakeholders in response to the global pandemic crisis.