COVID-19 crisis has emphasized how poorly prepared humanity is to cope with global disasters. However, this crisis also offers a unique opportunity to move towards a more sustainable and equitable future. Here, we identify the underlying environmental, social, and economic chronic causes of the COVID-19 crisis. We argue in favour of a holistic view to initiate a socio-economic transition to improve the prospects for global sustainability and human well-being. Alternative approaches to “Business-As-Usual” for guiding the transition are already available for implementation. Yet, to ensure a successful and just transition, we need to change our priorities towards environmental integrity and well-being. This necessarily means environmental justice, a different worldview and a closer relationship with nature.