In a debate at the CEBDS Leaders Council, the economist points out the main axes that will drive the economy after the pandemic
Rio de Janeiro, May 7 – One day after the IBGE announced that there are 18.4 million people without water and sewage in Brazil, economist Mônica de Bolle, senior researcher at the Peterson Institute for International Economics and teacher of School for Advanced International Studies in the Johns Hopkins University, argued in a meeting with CEOs of the largest companies in Brazil that investments in infrastructure, especially in basic sanitation, will be the “driving force” for the resumption of business after the pandemic. To a (virtual) audience of 140 representatives from companies such as Eletrobrás, Shell, Michelin, Suzano, Schneider, Alcoa, Nestlé, Vale, DSM, Bayer, Vivo, Neoenergia, Santander, Iguá Saneamento, among other members of the Brazilian Business Council for Sustainable Development (CEBDS), she listed, in addition to infrastructure, the need for social protection and the leading role of sustainability as the three pillars to guarantee business in the resumption that, according to her, should occur in a “zigzag” fashion.
“How countries are dealing with these three axes is decisive for emerging from the crisis,” he said.
Monica highlighted that investments in infrastructure generate millions of jobs and boost several sectors, such as construction, for example, and an entire extensive supply chain, whose maintenance should be a priority for large companies at the current time. Regarding social protection, Monica added that countries that are managing to provide a basic income for self-employed workers and people who are in informal work have achieved positive results in social isolation. Regarding the sustainable development agenda, she highlighted that “sustainability is here to stay on investors' agenda and the pandemic has accelerated the urgency of some issues that we have been discussing for a long time”.
The videoconference meeting with CEOs and senior leadership of CEBDS member companies and external guests, including Febraban and CNI, was the first in a series that CEBDS is promoting to build pathways for the resumption of business after the quarantine and long-term planning for the Brazilian business sector. This took place within the scope of the Leaders Council, which brings together senior leadership from companies and outlines strategies to enable the transition to a new low-carbon economy.
CEBDS also holds a biweekly thematic series to address the sustainable development agenda for the next 30 years, inviting representatives from the business sector, financial institutions, civil society, the third sector and experts from the academic world to debate. This series will be part of a new edition of the publication Vision 2050, which was launched at the time of Rio + 20 and is being revisited in light of the pandemic. To contribute to Vision 2050, visit here.
“It has never been so important to think long-term. The main solutions to overcome this crisis lie in the resilience of our businesses and in accelerating the transition to a new economy, prioritizing positive social impacts,” highlighted Marina Grossi, president of CEBDS.
During an hour and a half of conversation with companies, Monica also emphasized that support for vulnerable populations in Brazil has been provided through the three-month emergency aid provided by the Federal Government. “However, everything indicates that this period will need to be extended to ensure that these workers stay at home and reduce the contagion curve in the country.” In her analysis, she recalled that “this crisis is not of an economic nature at the outset, but rather of a public health nature.” According to her, this impacts future economic scenarios and hence the need for long-term planning. “We will not have a linear recovery of the economy, but rather a zigzag movement, with intermittent quarantines, with relaxation of health measures and reimpositions until we manage to eliminate contagion by the coronavirus,” she stated.
On May 13th, at 8 am, CEBDS will hold a thematic webinar to discuss social inequalities and the social impact of business, with the participation of Engajamundo, Itaú, Natura and World-Transforming Technologies.
