Economic Recovery for a Sustainable future
This initiative was our way of accelerating dialogue that facilitates a collaborative approach to meet environmental goals and foster an economic revival.
Learnings from the session:
What we are observing across industries today-
• Canada’s economy continues to adjust to the unprecedented contraction in global economic activity suffered in early 2020 due to the pandemic. After a sharp, but partial economic recovery during the first reopening phase, the Canadian economy faced additional setbacks as a result of the second wave of COVID-19 cases. But in recent months, the Canadian economy is showing signs of resilience and momentum, as many provinces begin easing the restrictions that helped reduce new case counts.
• We are currently witnessing huge disparities when it comes to economic recovery. The Canadian market is making a V-shaped comeback which is directly linked to pandemic control.
• Small and Mediums size business will place a strategic role in reviving the economy as 99 percent of businesses in Canada have fewer than 500 employees and they employ 64 percent of workers in the private sector.
• Technology and data are only to have an especially important role and will lead to a massive change in the economy.
• The global pandemic has solidified the need for e-commerce. Businesses that conduct over 50% of their sales online outperformed others during the lockdown period. In fact, 39% maintained or increased their revenues compared to less engaged businesses (16%).
• Research has found that companies with high ESG ratings consistently outperform the market in both the medium and long term. While sustainability strategies might be an investment in the short term, they can lead to long-term benefits.
Refer to the attached PDF file for a detailed overview of the event.