The time has come to take the business of sustainability seriously. Governments and businesses can no longer afford to focus on short-term gains to the detriment of longer-term sustainability. While many have suggested that we cannot afford to be ‘green’ in the current environment, we would suggest that the current Covid-19 crisis brings into sharp relief the need for better integration of environmental, social and governance (ESG) considerations into business and government decision-making.
And we see a gathering swell of opinion in this regard. Prominent institutions such as the International Monetary Fund are calling to seize the opportunity to build a stronger, more resilient and inclusive society. The recently appointed European Commission has built its strategy on the platform of a new Green Deal, which is designed to propel Europe into the leadership position on environmental issues. Similarly, a coalition of over 150 global corporations — with a combined market capitalisation of over US$2.4 trillion and representing over 5 million employees — is urging governments around the world to align their Covid-19 economic aid and recovery efforts with the latest climate science.