4 Aug 2020
WHAT DOES A POST-COVID REGENERATIVE ECONOMY LOOK LIKE?
WWF-Australia’s Panda Labs and the NSW Government, Department of Planning, Industry, and Environment have launched the Sustainability Advantage Impact Challenge. The mission of the Challenge is to transform the way NSW does business and solve wicked sustainability problems to advance the circular economy, speed up the transition to net-zero carbon emissions and benefit nature. The Challenge seeks to support the development of solutions to drive a regenerative economic recovery and make real progress on the United Nations Sustainable Development Goals.
The official launch on 29 July brought together over 100 participants from around the world and sustainability experts, including Dermot O'Gorman, CEO of WWF-Australia, Sally Townsend, Head of Sustainability at Blackmores Group, and Jenni Philippe, Founder & Director at Circleco. The panel discussion highlighted the importance of growing an innovation culture, rapidly prototyping new solutions, and collaborating across sectors to reach the United Nations Sustainable Development Goals
To serve as an inspiring thought starter for the Challenge, consultancy group EY presented their research report Adapt and Transform, which profiles trends and opportunities for aligning a post-COVID-19 Australia to a regenerative economy. Jointly commissioned by the Department of Planning, Industry, and Environment, and WWF Panda Labs, this report acknowledges that while life after COVID-19 will be altered, the big question remains: will it change the way we think, invest and do business? It identifies growing market opportunities in the regenerative economy, including the benefits for future-focused businesses and start-ups keen to capitalise on new markets. These key trends, presented by Dr Graham Sinden and Parrys Raines from EY, were:
- A new consumer agenda
- A new leadership paradigm
- A resilient energy system
- Disruptive digitalisation
- Expanding the special contract
- A prioritising of sustainable finance
- Supply chain disruption and localisation