The Covid-19 pandemic has profoundly changed the way businesses and societies function, with many seeking direction on ways to circumvent the challenges in a post-pandemic world. A crisis of this magnitude will also see people around the world review their priorities and purpose, as economies and businesses begin to reopen and build back better. Under the conference theme of “Navigating a post-pandemic world”, panel speakers shared their insights on a variety of topics including economics and markets, food security, and how to leverage technology as a force of good. The conference content was curated with the aim to provide actionable views which will help governments, businesses and individuals work towards a more resilient future.
To quote DBS CEO Piyush Gupta, it is clear that people the world over are striving to improve their lives, but things have yet to return to normal. According to Piyush, quite a lot of businesses have been able to adjust to the disruptions resulting from the pandemic. However, the pandemic has posed quite serious challenges to big companies as digitalization is more urgent than ever to meet the needs of customers and employees. Piyush explained that digitalization has brought changes in many areas, including in the ways of working. Apart from the challenges, digitalization provides opportunities to reallocate financial and human resources and enables businesses to gain customers and human capital beyond their areas of operations.Furthermore, Piyush stated that sustainability will be a big driver in the next 10 to 20 years affecting changes in three areas, namely changes in the value system and community commitment; changes in expectations - what investors want, what people want- as well as business opportunities. Lastly, Piyush stated that only companies that are ready to adapt to changes and remain agile can ensure a successful future.
One of the highlights of the conference was DBS Asia Leadership Dialogue with Al Gore, former US Vice President and winner of the 2007 Nobel Peace Prize, on “Climate Change and Great Reset”, hosted by DBS CEO Piyush Gupta.Al Gore urged people to make choices to change policies and to speed up the use of new technologies. According to Al Gore, the green stimulus program is the most effective way to create new jobs and drive post-pandemic economic growth. Therefore, if we could make the right policies for a post-pandemic world, we can further accelerate the labor-intensive sustainability revolution.
This year’s DBS Asian Insights Conference also marked the event’s 10th anniversary. To reinforce the bank’s deep Asian insights and thought leadership in the region, DBS continues to expand the scope of the conference, which started as a market-focused event, to one which today is “borderless” and features a global panel of speakers who share their insights on the future of the world across a multitude of sectors, demographics and markets.
Gavin Long, Co-Founder & Partner of The Acacia Group, in a session entitled “Economics of Mutuality, Finding Profitable Solutions to Problems of People & Planet”, said that Economics of Mutuality (EoM) is a new approach to invest that can maximize returns. EoM investment optimizes social, environmental, and financial impacts. With EoM investment, companies change their business operations to suit their human, social, natural, and financial resources to optimize profits and maximize shareholders and stakeholder's value. EoM investment creates highly resilient and profitable companies that optimize returns on invested capital in a sustainable manner.
