Resilience and sustainability must drive Europe’s recovery

The COVID-19 crisis has been a human tragedy and a stress test for us all, and what it has revealed is concerning – from borders closing, to protectionism and fraying supply chains. The world seems to have become a more isolated place overnight.

But now is not the time for division, now is exactly the time for solidarity. If we are to build back better, it is time to increase – not decrease – cooperation across sectors and across the continent. With so much on the line, European political, civil society, and business leaders must act.

In recent weeks and months, people around the world have lived in a state of forced isolation, imposed by health and safety measures. However, despite this physical separation, they have done everything possible to unite and collaborate in ways we have never seen before. The COVID-19 crisis has thus accelerated pre-existing trends – from the digitalisation which has allowed people to work from home and help prevent the virus from spreading, to the uptake of renewables which are increasingly replacing fossil fuels.

Whatever the case, it has become evident that keeping the status quo is no longer an option. The crisis has shown a strong link between human health and damage to the environment, and has provided a compelling reason why business models must change. This crisis has also forced everyone, from governments, to companies and civil society, to reprioritise and set commitments which are capable of standing up to the twin threats of COVID-19 and climate change – neither of which is likely to go away anytime soon.

If we are to survive, let alone thrive in these decades to come, a more resilient and sustainable model is sorely needed.

Even prior to the COVID-19 crisis, the European Green Deal had been identified by the European Commission as a pillar of Europe’s growth strategy. Today, it is more relevant than ever, as it represents an opportunity to revive the European economy and to show that Europe can be a uniting force capable of leading in times of crisis.

The recovery thus presents Europe with an opportunity to develop a new modus operandi which incorporates environmental and social costs into its growth models. The colossal investments likely required to respond to the economic shock caused by COVID-19 is such that this may be a once-in-a-lifetime opportunity to reinvest broadly and thoughtfully. It is therefore both urgent and necessary that we find ways to reconcile Europe’s immediate economic recovery with the achievement of long-term environmental and social goals. ​

As we begin to emerge from this crisis, some may tend to focus on the urgent, immediate issues and lose sight of the important but longer-term priorities. But this urge must be resisted. Now is absolutely not the time to curtail ambition. Instead, we must redouble our efforts. The European Green Deal, together with a digitised Europe, holds the potential to launch a more resilient system, capable of weathering future storms, with initiatives and social innovations designed to ensure that Europe will become climate neutral, competitive, circular, inclusive and resource-efficient.

As a result, alongside 380 fellow CEOs who have endorsed CSR Europe’s Call to Action for a Sustainable Europe, we call on business leaders, industry federations and EU policymakers to join forces for a European Pact for Sustainable Industry which bridges EU economic silos, across borders and value-chains, to foster the transformation required to achieve the goals set forth by the Paris Agreement and the UN Sustainable Development Goals, as well as by the UN 2030 Agenda, and its Guiding Principles on Business and Human Rights. Speaking on behalf of the entire network of CSR Europe, we call for politics, civil society, and business to join forces to build back better.

Covid-19 has shown us that unless we truly cooperate, we cannot operate. Without our employees, partners, clients, and communities, we cease to exist. But together, across sectors and nations, we can create a better Europe, one which has sustainability, climate action, and inclusiveness at its core. For business, it cannot simply be about generating profits. It must also be about how we contribute to society.

Looking forward, if Europe can successfully become more decarbonised, electrified, digitised and inclusive, everyone stands to benefit, not just one sector, but society at large. Let us look to a more resilient and sustainable future, one which sets us up for success – not only in the short-term, but for the generations to come.