Pandemics and Climate Change as Systemic Risks: Law, Policy, Insurance, Physical Activity and Exercise as Mitigating Environmental Degradation Mechanisms

Abstract

Climate change and the Covid-19 pandemic have been classified as systemic risks and have elaborated that such systemic risks will become the new normal. Ways to tackle the long-term effects of climate change include law and environmental policy. In addition, insurance can help mitigate the burden placed on governments when such systemic risks occur, including pandemics. In relation to the Covid-19 pandemic and the effects of long-Covid, sports and exercise are examined as a mitigating factor able to release pressure from public health and help mitigate its long-term effects. This article discusses the correlation of Covid-19 with environmental changes and climate changes and goes on to address the role of insurance, on the one hand and sports and exercise on the other hand as mitigating mechanisms to handle systemic risks such as climate change and pandemics. The article’s findings suggest and conclude that 1) outside state action (law and policy), private action such as change in lifestyle towards a more sustainable way of life, and sports and exercise can help with the long-term effects of pandemics and 2) insurance can act as a mitigating private sector mechanism. Governments should integrate law, policy, and mitigating techniques such as private insurance to tackle and respond to systemic risks. climate change, Covid-19, systemic risks, insurance, physical exercise, mitigation for climate change, mitigation, public health