You are using an outdated browser. For a faster, safer browsing experience, upgrade for free today.

How to deal with big financial losses versus sustainability?

A nightmare for CEOs

Major unexpected financial problems or even disasters are hitting many large, medium and small enterprises throughout the world. Addressing the negative impacts of the Corona crisis is a nightmare for CEOs and Management. Sustainability is NOT top of mind. Even sustainable enterprises are struggling with the effects of the crisis.

How to deal with this situation?

Is there a certain way forward that will give a new perspective for the near future? It is hard to say. Some experts indicate that we need to transform all our value chains and sectors. However transformations will take time, and do we have enough time to survive at this very moment?

The ‘Age of Greed’ or the ‘Age of Responsibility’?

In my sustainability working environment I am also working on transforming sectors from ‘The Age of Greed (as Professor Wayne Visser explained) to the ‘Age of Responsibility’. Several experts call this transforming to ‘A New Economy’. This will raise the question: ‘Can new economies deal much better with crisis like the Corona-crisis, than old economies?’ I expect that this will be possible, but I can not give any guarantee. My international sustainability expertise tells me that Social Responsibility will be a key success factor for new economies, no matter what type of sector. The recent social irresponsible behaviour of Roche, with regard the transparency of their recipe for Corona-virus tests, is a clear example.

Collaboration as the way forward

My personal vision is that the best way forward to deal with these financial challenges is to collaborate together for transitions to the ‘Age of Responsibility’. CEOs together with employees, Enterprises together with their customers, suppliers and business partners. Public and private sector collaborating on Public-Private Partnerships. And everyone putting our Society on top of mind! Leaving no-one behind! Then the company losses will transform to (more than financial) value for both companies and society.