Global Leadership and Trade During a Difficult Environment of Disease, and Sustainability
Global leadership and trade during a difficult environment of disease, and sustainability.
In the midst of the crisis, think beyond the immediate.
Given the health and environment-related challenges facing the world, there is a need for new leadership models, methods, and tools.
The world is currently facing a resource crunch as part of the sustainability challenge. The global population is currently consuming 50 percent more natural resources yearly than the Earth can supply.
If we continue with “business as usual” we will need the resources of 2.9 planets to survive in 2050.
Businesses have been sulking to tackle sustainability issues mainly because of the failure to fully incorporate sustainability into their strategic thinking and operations.
In an unprecedented global health crisis and sustainability challenge, leadership should stress trade to save lives and livelihoods.
Since the pandemic, trade has witnessed many changes. Over 50 nations have made changes to their port protocols. That said, some countries have also set up “green lanes” at ports and borders.
In the midst of significant uncertainty on sustainability and global health, there are three trade-related attributes leadership can facilitate to avoid becoming tomorrow’s market distortions.
1) Boost confidence in trade and global markets: A strong, shared, transparent base is critical for sound national policy responses and international cooperation.
2) Keep supply chains flowing: Supply chains for essential goods, including medical supplies, food products, and Information Communication and Technology(ICT) goods and services should be open.
3) Improving transparency about trade-related policy actions: Fairness in the national-level distribution of benefits and global competition is needed for maintaining public support for trade and the open markets.
The aim should be to keep trade flowing in the current crisis and to ensure it can help underpin global recovery.
Once a niche segment of the broader energy industry, today the renewable energy sector is growing rapidly to become an important source of energy in many nations. These firms help produce a variety of clean energy, including, solar, wind, biomass. and geothermal.
There exists a precious opportunity for the global leadership to reform trade and ensure healthy and sustainable lives for all. Agree?