The Covid-19 pandemic exposed that global social and financial systems were just one disruption away from disaster. It exploited a series of pre-existing vulnerabilities in these interdependent systems that have been increasing in scope and severity for decades.
As of early December 2020, Covid-19 has killed more than 1.5 million people worldwide, sickened more than 65 million more, created extreme volatility in global financial markets, and triggered the most devastating global economic depression in nearly 100 years. This, despite widespread stay-at-home orders and mandated business closures, and despite governments spending nearly $10 trillion dollars as of June 2020 to support capital markets, workers, businesses, and families impacted by national shutdowns.
In response to the Covid-19 pandemic and ensuing economic disaster – and in partnership with Moving the Market (MtM) – The Investment Integration Project (TIIP) launched the Understanding systemic social risk project to help policymakers, regulators, and investors understand why global social and financial systems have been so quickly and easily devastated by a single social disruption (the Covid-19 pandemic) and to recommend how they can help to make these systems more sustainable and resilient to inevitable future disasters.
TIIP and MtM will co-host the final project webinar on January 12, 2020 at 11:00am ET to detail the roadmap findings and recommendations, share TIIP’s thoughts on next steps for the financial industry and its plans for operationalizing them, and discuss ways that others can partner with TIIP and get involved.
It is the final in a series of project webinars that aim to give industry stakeholders an opportunity to provide feedback on the project and its next steps.