From CSE Consulting team
Not much can be done in 100 days, unless those days land in the middle of a crisis. The Biden Administration faces social challenges more visible than ever before. Your organization must be ready for the old concerns rising to new levels.
PPEs (physical protection equipment) are in such high demand that companies, even individuals buying personal masks, must consider their origin. In April 2020, the US Food and Drug Administration initiative set up an emergency approval process for PPE suppliers. One approved company secured a billion-dollar contract with California despite previously being linked to forced labor. The number of companies producing medical-grade protective equipment in Xinjiang province, China, jumped from four to fifty-one (Sourcemap). Is your organization purchasing PPEs from well-vetted companies? During the pandemic, we CANNOT depend on the socially minded Biden Administration to be the watchdog.
On the other hand, the Biden Administration is using the crisis to pointedly address social injustices in the financial system. The $1.9 trillion pandemic relief package signals out smaller businesses and individuals who missed loan support from the first package. It provides funding to open the doors to civic entities such as museums. It pointedly addresses minority-held farms. Accused of social activism in the guise of economic relief, the package does both. Museums hire employees, have restaurants and sell goods. Minority owned farms keep grocery shelves stocked and restaurants with fresh fare. Economics, business and social awareness can, and even should, work within overarching sustainability goals.
Technology Ever Forward
Looking farther ahead, how will the Biden Administration tackle emerging technologies, spurred by the pandemic that will exist well past the first 100 days? Restaurant and grocery delivery, by industry accounts, is 5 years ahead of schedule – that means largely unregulated. How will your organization compensate its gig workers? Fear of contagion is a driving force in Lyft’s Las Vegas self-driving taxis. How will you manage your displaced workers when you bring on new technologies?
If your organization is adept at innovation, is it equally adept at strategy? Are you able to see the CSR pitfalls, the ESG gaps highlighting old inequities in new circumstances? Consider an ad hoc strategy team in place for 100 days with the freedom to challenge how opportune the new opportunities really are.
To help prepare your organization to tackle the new challenges, CSE offers integrated consulting services on Sustainability (ESG) with a sector-based approach.
If you would like a free ESG Ratings assessment from our Consulting Team, contact us at firstname.lastname@example.org