The health of humans, environment, and the economy
June 22, 2020June 22, 2020 by Orlando Oxales, published in The Manila Standard
“We must all change for the better.”
Economic experts and the International Monetary Fund predict the onset of the worst economic crisis since the Great Depression. It will push hundreds of millions into poverty.Here in the Philippines, the Department of Labor disclosed during the recent Senate hearing on the government’s coronavirus response that an estimated 4 to 5 million Filipinos will lose jobs while legislators in the House of Representatives see more than 10 million will be unemployed as the community quarantine restrictions are extended.
The extent and complexity of the fallout from the crisis is unprecedented but so is the global response awakened by this existential threat. Inter-sectoral collaboration is no longer a conceptual aspiration but has emerged as a powerful spirit thought to be lost in the post-Baby Boomer, post-Generation X culture.
This awakening is evident in the ongoing interventions from the private sector and civil society to complement the gaping limitations of government resources and agility. Unfairly sullied by the populist posturing of the current administration, the pandemic has somewhat caused a repivoted attitude open to partnerships with private business groups to fight the COVID-19 war with urgency, efficiency and transparency.
Businesses will not survive without sustainability. The disruptions caused by this pandemic has shaken this basic requisite and has caused the closure of half of the country’s Micro Small and Medium Enterprises which, according to Department of Trade and Industry data, accounts for 99.5% of the businesses in the country.
To move forward, the leaderships of government and industry must work together on building the country’s resiliency to sustain the interlinking dynamics between the health of the population, the environment, and the economy. Regaining the lost momentum of our economy will need the mobilization of the country’s best human and natural resources in an environmentally sustainable ecosystem that will result in inclusive economic prosperity for the current and future generations. Each sector will need to rethink its role and re-engineer a new path from the lessons of the pandemic.