Many across business, government, civil society and academia now see the COVID-19 pandemic as the opportunity for change – to ‘build back better’. The Financial Times believes it is ‘Time for a Reset’ – of capitalism itself – to ensure that corporations pursue profit with purpose rather than with undue costs to environment, society and health ( Financial Times, 2019). The 2019 Global Sustainability Report concluded that, in order to achieve sustainability, ‘transformations’ will be needed across a range of different systems (IGS, 2019). The Sustainable Development Goals call for ‘bold and transformative steps’ (UN, 2015).
Major challenges to global sustainability have been met with numerous calls to do things differently. But for any business, organization, government or United Nations agency serious about addressing long-term sustainability challenges, the opportunity is there to use these five practical actions to press the global reset button. Implementing these steps will be extraordinarily challenging, especially given the short-term imperative to ‘bounce back’. Fifth, kick-start system redesign for co-benefits. Fourth, manage trade-offs for the long and short term. Third, identify solutions across systems. Second, employ a new cadre of ‘systems connectors’. This Intelligence Briefing uses this evidence to identify five practical steps needed to advance a global reset. All of these systems affected each other: responses implemented to address problems in one system inevitably led to effects on others. It brings together the evidence that the causes, severity and effects of COVID-19 cut across multiple interconnected systems, notably environmental, health, political, social, economic and food systems, as did the responses to it. This Intelligence Briefing makes the case that the experience of COVID-19 itself, particularly the way it reverberated across multiple systems, shines light on the vital steps needed to advance a global reset. Drawing from the vision and vast expertise of the leaders engaged across the Forum’s communities, the Great Reset initiative has a set of dimensions to build a new social contract that honours the dignity of every human being.COVID-19 has stimulated calls for a ‘global reset’ to address major global challenges and ‘build back better’. The opportunityĪs we enter a unique window of opportunity to shape the recovery, this initiative will offer insights to help inform all those determining the future state of global relations, the direction of national economies, the priorities of societies, the nature of business models and the management of a global commons. Leaders find themselves at a historic crossroads, managing short-term pressures against medium- and long-term uncertainties. The inconsistencies, inadequacies and contradictions of multiple systems –from health and financial to energy and education – are more exposed than ever amidst a global context of concern for lives, livelihoods and the planet. The Covid-19 crisis, and the political, economic and social disruptions it has caused, is fundamentally changing the traditional context for decision-making.
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