John Goldstein, the head of Goldman Sachs’ Sustainable Finance Group recently termed COVID-19 as a ‘stress test’ for the corporate social responsibility.
“The stuff that was being done more for appearances or a label is getting constructively rationalized. Companies are used to getting hundreds of surveys on sustainability issues, but the current turmoil will ‘clarify the mind tremendously’ around what disclosures are absolutely necessary and most valuable,” he told Bloomberg’s Emily Chasan.
Other experts have expressed a similar take on how the covid-19 pandemic is affecting corporate sustainability.
Speaking with Environment + Energy Leader recently, General Motors’ new chief sustainability officer Dane Parker said that the automaker continues to focus on reducing its environmental footprint.
“Some of the things that will happen in the immediate term make it difficult to look past today or tomorrow or next month. But the longer of a view we can take, the better we’ll do, and the smarter the decisions we’ll make,” he said.