Consumption and production drive the global economy, but also wreak havoc on planetary health through the unsustainable use of natural resources. The global material footprint is increasing faster than population growth and economic output. Improvements in resource efficiency in some countries are offset by increases in material intensity in others. Fossil fuel subsidies remain a serious concern. An unacceptably high proportion of food is lost along the supply chain. And waste, including additional medical waste generated during the pandemic, is mounting. The pandemic offers an opportunity to develop recovery plans that will reverse current trends and shift our consumption and production patterns to a more sustainable course. A successful transition will mean improvements in resource efficiency, consideration of the entire life cycle of economic activities, and active engagement in multilateral environmental agreements.