Through Nordic Summit 2020 - this year transformed into a series of virtual sessions - Danske Bank sheds light on the current COVID-19 pandemic and its consequences for the global economy and the society as a whole.
Fiona Reynolds, CEO for Principles for Responsible Investment (PRI), elaborates on the green transformation in light of COVID-19, and discusses questions like how the pandemic is linked with the climate and biodiversity emergency, and how companies and investors can be more prepared for future crises such a climate change.
The session is moderated by Ulrika Hasselgren, Global Head of Sustainability & Impact Investment at Danske Bank, and Louise Aggerstrøm Hansen, Senior Analyst at FI&C Research Danske Bank.
Key takeaways from Reynolds
- The changed biodiversity due to climate change will bring diseases to new places, which will create new health-related issues. When it comes to COVID-19, air pollution is a death multiplier, increasing fatalities by 15%, according to new research from Harvard University.
- This means that these continued crises need to be treated as connected issues, and it puts the urgency of dealing with the great transformation and tackling climate change front and centre at what we need to focus on in the future.
- The crisis is an acid test for the field of sustainability and ESG responsible investment - it's the wakeup call that the world needs, serving as a stark reminder that if you don't have healthy people and a healthy planet, you will not have a healthy economy.
- The businesses that survive in the future will be those with very good governance and those who take ESG factors into consideration and build them deeply into their process.
Read more about Fiona Reynolds in the original article on the Danskebank.com website.