South Africa: In the Wake of Covid-19, We Need to Recalibrate Global Capitalism Through Sustainable Investment

opinion

The UN estimates that between $3-billion and $5-billion annually will be needed over the next decade to achieve more equitable global societal and environmental conditions. This requires close collaboration and joint financing by both the public and private sectors. We have joined with 28 other CEOs across industries and regions to form the UN-backed Global Investors for Sustainable Development initiative.

The environmental and social impact of human behaviour has often been relegated to the fringe. Covid-19 has changed all of that, laying bare the true scope of inequality and interconnectivity across the world. Each global crisis further highlights that millions of our fellow human beings are suffering from the negative impacts of climate change as well as from deficient education and healthcare systems, political conflicts or natural catastrophes.

While these challenges are acutely felt in emerging markets, they are not unique to them. The United Nations estimates that around $3-billion to $5-billion annually will be needed over the next 10 years to achieve more equitable societal and environmental conditions globally.

This huge task can only succeed with close collaboration and joint financing by both the public and private sectors. In order to fund substantially more hospitals, universities, solar parks or...

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