Learning to love transparency  

15 February 2021:

Transparency took on a whole new meaning last year as COVID-19 swept the globe. At the start of 2020, it would have been unthinkable in much of the world that individuals would opt-in to geographic location services that shared their whereabouts at all times. Yet here we are, with pop-up notifications on smartphone apps warning people when they have been close to someone who tested positive for the coronavirus.

As we head into 2021, the transparency imperative stretches from individuals to institutions, with the crisis increasing pressure on companies to open up to stakeholders such as investors, suppliers, governments, customers and employees. That pressure isn’t due to contact tracing, of course. Rather, it’s a function of how the pandemic has underscored the interconnectedness of global actors, exacerbated and exposed underlying economic and social inequalities, and raised sharp questions about how we will deal with climate change—the next global crisis. The private sector urgently needs to respond to these global threats, demonstrating to investors that it can build resilience to future shocks, and to society at large that it is committed to long-term, sustainable value creation and a carbon-neutral economy.

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Source: PwC

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