The pandemic is no different from climate change – both are crises unavoidable on a global scale that require collective cooperation, and both reveal the misalignment between short-term priorities and long-term growth. The worst of the pandemic appears to be easing slightly, but climate change is and will only grow in its intensity and with it, the scale of the crisis. The COVID-19 slowdown is an opportunity to rethink business models and rewrite the growth equation. This will require new modes of operating, measurement, accounting, reporting, and investor engagement – in short, a refresh of the triple bottom line.
There has been a silver lining, if we really see it. The pandemic and the lockdowns globally has cleared the air, literally, brining all kinds of pollution under control. It has been like a breather for the planet, for its wildlife and us, humans. Also, for the most part, individuals played their role and stayed home, masked up, and maintained physical distances. This concerted effort by every individual has shown us that cooperation on a large scale to address a global problem is possible. Now, in the post COVID-era, we know we can work together to mitigate bigger issues such as food crisis, waste, carbon emissions, inequalities and injustices in our societies – all to shape a better future. Now the question is, will we come together in the wake of COVID-19, and make collective efforts to resolve everything that threatens our world and our people?
At the Cooler Earth Summit on 8 September 2020, our distinguished panel looks at the frailties of our current economic system and what is needed for rebuilding businesses and economies. The session will discuss the what growth could look like in the context of crises, and hear from social enterprises on balancing profits and purpose.