As progress on global sustainable development advances, there are periods when economic, social, political, or environmental events drive cross-scale dynamics that reverse progress. These shocks act as a challenge for leaders – a moment when executives can either reaffirm their sustainability agendas or back down from their commitments.
Take, for example, the corporate response to the COVID-19 pandemic. According to the Sustainable Development Goals Report 2022, the pandemic, combined with the climate crisis and conflict in Ukraine, reversed four years of progress on poverty alleviation. Millions were driven back into extreme poverty, and the gender inequality gap widened. Some executives took generous bonuses before filing for bankruptcy as non-essential businesses were forced to close their doors. In essential businesses, leaders sent frontline workers to stores before protective gear was readily available to keep profits afloat.
Today, we’re witnessing another…