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Sustainability 17 Jun 2020

Change and sustainability, the keys to progress in the new normal

Ebru Dildar Edin, Executive Vice President of Corporate and Investment Banking at Garanti BBVA participated in the seminar ‘The Changing Future of Work,’ where she emphasized the role sustainability will play in establishing a new, improved normal.

During her presentation at the event organized by the Turkish social initiative, imece, Dildar Edin declared that private sector participation will be paramount to the new future, especially as it represents an important portion of national GDPs. “Companies have to be forward-looking; they have to take steps so that their national economies continue to work and prepare themselves for structural changes domestically.” The Garanti BBVA executive believes this process will serve to demonstrate the speed with which measures can be put in place and constructive solutions introduced.

She mentioned that, with the pandemic, new sustainability measures have taken hold in our our lives and she stressed that the World Bank has created a ‘sustainability verification list’ that acts as a compliance guide for countries so they can, without exception, adhere to sustainable development requirements. She also reiterated that the European Union advocates for post-pandemic economic systems that focus on environmentally friendly growth in order to maintain their stability.

Against this backdrop, Ebru Dildar Edin singled out some notable examples: the creation of innovative initiatives such as COVID bonds and a greater presence of sustainable finance requirements and ESG investments going into the new normal. “When a company’s strategies and products are combined with sustainability criteria, they become wealth-generating factors.” She went on to add that “as industry leaders, we have the chance to turn the pandemic into an opportunity for a better world,” she added.

To achieve this, Ebru Dildar Edin asserts that it does not seem viable to continue operating to current structures and living according to the pre-pandemic social and economic order. The Garanti BBVA executive emphasized that developed countries will need to provide considerable economic support to address the damage caused by the pandemic, and she warned that those emerging countries have yet to confront even greater challenges.

The social innovation platform Imece uses its seminars to promote opportunities that emerge from present changes and the possibility of establishing systems that are focused more on sustainable development. It also assesses government performance, the national landscapes of various countries, and the development of various sectors within the context of the COVID-19 pandemic.

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