CEPI welcomes COVID-Zero initiative to fill R&D funding shortfall

09 Apr 2020

By CEPI


CEPI is a partner in the new COVID-Zero initiative, which aims to help raise at least $8 billion by the end of April to cover a global funding shortfall for vaccines, treatments and testing for coronavirus.

COVID-19 is a global crisis which requires a truly global response. Tens of thousands of lives have been lost already, and by some estimates one third of the world’s population is now living under lockdown, causing untold damage to livelihoods and economies.

Lockdowns and social distancing alone cannot end the COVID-19 crisis, but COVID-19 is a solvable problem. Our exit strategy from this pandemic is to stop the virus permanently through vaccines, treatments and testing.

However, this exit strategy isn’t yet funded. The Global Preparedness Monitoring Board, an independent body convened by the World Health Organisation and the World Bank, has identified an urgent $8 billion shortfall in scientific funding, of which $2 billion is needed by CEPI to support the development of safe and effective vaccines.

COVID-Zero is calling on business to form a coalition that can help bridge this funding shortfall and get our lives, businesses and economies back on track. The initiative is called COVID-Zero because by securing this funding, it aims to achieve zero deaths, zero new cases and zero lockdowns as soon as possible.

Sovereign governments have so far contributed over US$690 million to CEPI’s urgent call for US$2 billion to fund vaccine R&D. We’re working around the clock to develop safe and effective vaccines, and we’re now calling on global business to join the fight. Businesses are already working hard to support their employees and communities, but we’re urging them to give a proportion of the money they are dedicating to coping with the crisis, to helping to solve it.

A study by Bloomberg Economics has found that the pandemic could cost businesses a total of $2.7 trillion in lost output – equivalent to the entire GDP of the U.K. Investing in science will save lives, secure jobs and get the world moving again sooner than anything else. It will be the best investment business ever makes.

The spread of COVID-19 is a global humanitarian and economic crisis. While a range of social distancing measures have been implemented in countries and regions across the world, the development of safe and effective vaccines, treatments and diagnostics is the only way to permanently halt the global spread of the disease. We are all in this together – all of us facing this same threat – and it’s down to all of us to influence what happens next. At this pivotal moment we urge the business sector to join governments and philanthropies in offering vital financial support to science, which is the only way to bring this pandemic to an end.”

Dr. Richard Hatchett

Chief Executive Officer, CEPI

Let’s reach COVID-Zero. Join the coalition to find out how your business can get involved.
CEPI has also partnered with the UN Foundation, who can accept individual donations on behalf of CEPI, as part of their COVID-19 Solidarity Response Fund.

 


portrait of autor