Post Mortem

How the Covid-19 reset can help firms build a sustainable future

By Nagaland Post | Publish Date: 1/28/2021 1:01:43 PM IST

 Many learnings have emerged out of our dealing with the unforeseen situation, which includes increased focus on stable, sustainable economies, clean and green environment and above all, quality of life.

The onset of the pandemic has led to the creation of large quantities of untreated medical waste in the form of disinfectants, masks, personal protective equipment and gloves. The disposal of such waste will pose a threat to the environment. The positive news during the pandemic was, of course, the significant improvement in air quality, reduction in greenhouse gas emissions and less water pollution, all of which help in restoring ecological systems.

Many learnings have emerged out of our dealing with the unforeseen situation, which includes increased focus on stable, sustainable economies, clean and green environment and above all, quality of life. It has put a spotlight on the need to create an equitable society, with aligned benefits. These critical life lessons must be turned into concrete actions.

The pandemic has been a cautious reminder for the world to rethink and re-imagine new possibilities of doing business in order to build a sustainable world. It has been widely affirmed and established now that tackling global challenges like economic stability, climate risks and resource availability, among other things, needs a collaborative approach. Therefore, we must begin by incorporating systemic changes into our systems and process, combined with the power of technology and digitalisation. Sustainability should be fed into the root of everything that we do.

The pandemic has specifically elevated the significance of social factors in the current moment, and environmental factors in the long-term. According to a study by the University of Oxford, there is a positive correlation between the average environmental, social and governance (ESG) scores of organisations and their countries’ macro-economic performance.

A sustainable economy that promotes equality, facilitates self-reliance and prosperity and is environmentally sound is what all nations should aspire to. Transitioning to such a global economy is indeed a challenging task.

Investors are increasingly looking for concrete evidence that organisations are incorporating sustainability into their functioning. As business leaders, we must take care to define corporate purpose in alignment to socio-environmental benefit.

Businesses must mitigate risk and drive profitable growth by investing in sustainable innovations that positively impact the world. We must continue to put our bets on e-fuels and other efficient inventions that reduce effort and risk. Leveraging technologies like Artificial Intelligence, Internet of Things, Analytics and Blockchain will help resolve sustainability issues.

Sustainability remains a top priority for defining long-term resilience as it is a critical aspect of all business strategies and bets for the new future. Today’s leaders are faced with an incredible opportunity to carve out a new future for their businesses by importing the principles of sustainability into their strategy. The onus now lies with us to strike the right balance and build businesses which are profitable and sustainable in the new normal of a post-Covid world.

CP Gurnani

Managing Director and CEO, Tech Mahindra

(The views expressed are personal)

Launched on December 3,1990. Nagaland Post is the first and highest circulated newspaper of Nagaland state. Nagaland Post is also the first newspaper in Nagaland to be published in multi-colour.

Desk:+91-3862-248 489, e-mail: npdesk@gmail.com Fax: +91-3862-248 500
Advt.:+91-3862-248 267, e-mail:npostadvt@gmail.com

QUICK LINKS

SUNDAY POST

Join us on

© Nagaland Post 2018. All Rights are Reserved
Designed by : 4C Plus