Category: Social
The pandemic could lead to a stakeholder society, says head of investor initiative The pandemic could lead to a stakeholder society, says head of investor initiative The pandemic could lead to a stakeholder society, says head of investor initiative
Apr 3rd, 2020
The current economic crisis brought about by the Covid-19 pandemic could have one upside in that it might kill off the ‘greed is good’ mentality.
That’s the hope of Principles for Responsible Investment CEO Fiona Reynolds, who told RI in an interview: “The ‘greed is good’ - all of that - is a thing of the past. I think this will kill that off completely.”
In an interview she observed that responsible investment, and sustainability more generally, was “coming to the fore” in the current crisis in a way it didn’t during the global financial crisis of 2007-8.
The responses she is seeing now are more practical, more solutions oriented, with people looking to see how they could focus on the long-term, with social (‘S’) issues such as workforce, supply chain, the gig economy, which lag within the ESG space, taking greater prominence.
Governments, she said, were also taking a human-centred response.
But she argued that responsible investment is sti…