Leading through Converging Crises
A dramatic rise of interlinked global challenges is forcing business executives to navigate new levels of uncertainty. Armed conflicts produced alarming cascading effects across a world already impacted by COVID-19 and climate change. The risks of generations lost, as well as waves of food insecurity, energy shortages, unfolding debt crises, and social unrest are very real. In this context of uncertainty, more and more chief executive officers (CEOs) are stepping into broader leadership capacities, propelled by business necessity and by evolving societal expectations of their role.
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The UN Global Compact has compiled perspectives from CEOs across the globe, to provide policymakers, companies, and the public with practical insights into business leadership in today’s novel and dynamic operating environment. The report describes how today’s CEOs are experiencing complex threats to their operations — and to their sustainability agenda, with a fragmented landscape limiting ambition, a transition to renewable energy facing systemic barriers and social issues compounding business vulnerabilities.
While the private sector worldwide has experienced challenges during these times, it has also demonstrated value as an influential and resourceful partner. Some companies have found ways to persevere or even thrive despite setbacks, while increasingly, CEOs are stepping up to address and provide guidance on pressing political and societal challenges. Business leaders are utilizing new tools and tactics, from proactively aiding peace and stability to strengthening governance for current and emerging risks and addressing risks stemming from inequality and employee well-being.
For some, change brings opportunity, but overall, CEOs urgently call for increased dialogue and partnership with the public sector; for regulatory frameworks to attract financial flows; for more workforce training, action and public investment to regain balance with nature and clean energy; for global collaboration on AI; and for consolidation of the fragmented landscape for ambitious achievement.
