Diversity and inclusion must stay front and centre

TURNING back the clock to New Year's eve, we knew that 2020 would pose challenges, with analysts expressing concerns about a potential economic downturn fuelled by trade wars, asset bubbles and climate change. What we did not know was that a global pandemic was about to take grip, leading to a once-in-a-generation public-health crisis that has resulted in the greatest global economic shock since the Great Depression.

Faced with the challenge of protecting populations from a pandemic that knows no borders, governments across the world are adopting protectionist policies, fuelling the momentum towards deglobalisation that had already been underway before Covid-19 entered our lives.

Regulatory regimes, markets and entire industries are being restructured as businesses face dislocations in their operations and supply chains, liquidity and solvency instability, and devastating losses of revenue or sudden spikes in demand. As companies have adapted to the new operating environment, their energy has been concentrated on their most pressing needs as they seek to maintain their productivity and relevance, and protect their workforce.