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To achieve the Great Reset, we will need more than the actions of the powerful.
Even before COVID-19, global progress towards the United Nations Sustainable Development Goals had lagged.
Social entrepreneurs and other frontline actors have a pivotal role and should stay given greater prominence and support at this time.
Joint movements and alliances in the social enterprise sector are crucial to building an industry-wide agenda with collective messages to influence key stakeholders.
Just as the COVID-19 caregiver is on the front line to protect human life, the social entrepreneur is on the front line for the protection of socio-economic well-being. As such, they have a lot of work ahead of them. The COVID-19 pandemic has exposed critical flaws in our social and economic systems, with devastating consequences for the billions of marginalized people.
Global Goals To Reduce Poverty
Global goals to reduce poverty and fight climate change have stagnated or regressed in the face of COVID-19. Before the worldwide pandemic, few countries were even close to meeting the United Nations Sustainable Development Goals (SDGs) by the 2030 target date. The Social Progress Index estimated last year that this date had been postponed to 2073. The pandemic is probable. Further delay progress unless drastic action is taken.
The World Bank Predicts that the Global Economy
The World Bank predicts that the global economy will shrink by 5-8%. And indicates that more than 100 million people are at immediate risk of poverty. Educational inequalities and food insecurity are already increasing due to a lack of resources and widespread school closures. And health systems remain overwhelmed, erasing the public health achievements that have been fought so hard. Now is the time to do equipment differently.
If there are rays of encouragement that reflect the resilience of the human spirit. It is in the collective actions that are emerging as the world reacts and responds to the pandemic. One of the personal responses is the World Economic Forum’s Great Reset initiative.
A commitment to jointly and urgently rebuild the foundations of our economic and social system for a more just, sustainable, and resilient future. International organizations, such as the IMF and the UN, have partnered with private companies. Such as Microsoft and Mastercard, to support the Forum’s call to reassess global social and economic systems.
The Great Reset
But to complete the Great Reset, it will be necessary to bridge the gap between public and private interests and institutions. It is where the social entrepreneur and the social enterprise sector can make an impact – they have already been active in this space for decades, although their work often goes unrecognized or endorsed.
Social entrepreneurs help as a crucial social safety net for the systemic weaknesses, inequalities. And market failures that are now apparent. Over the past few months, they have shown time and again that as first responders to this crisis, they have to remain able to adapt quickly. And share their knowledge and strengths where they are needed most.
While governments promulgate policies and launch initiatives at the national level with partners. And multilateral donors, businesses, and impact investors channel resources to address various challenges, social entrepreneurs remain often trusted by members. After all, they have made significant progress on challenges such as food security, employment, gender equality, sanitation, and health in these communities for many years.
Top-down ecosystem actors must recognize the role of these frontline leaders and empower and align resources to re-energize progress towards the goals of economic inclusion, health, education, and social cohesion.
By Mobilizing
By mobilizing these essential actors in this critical time, initiatives such as Catalyst 2030, an international consortium of more than 200 NGOs, social enterprises, intermediaries, donors, and other innovators of social change who are committed to collaborating to help countries to achieve the SDGs by 2030.. – perform critical work. In its recent report “Moving from Crisis to Changing Systems,” Catalyst 2030 underscored the central role social enterprises must continue to play in achieving the SDGs.
The Covid-19 Response Alliance
The COVID-19 Response Alliance for Social Entrepreneurs, hosted by the World Economic Forum and the Schwab Foundation. Encourages collaboration between impact-driven businesses and global leaders. They stay made up of more than 60 international organizations – collectively representing more than 50,000. Social enterprises worldwide and touching the lives of nearly a billion people.
The Alliance has set itself a dual purpose of supporting social enterprises during COVID -19. And its consequences and to make their voice and expertise heard in the “big reset” program. His conviction: the decades of experience of these social entrepreneurs are essential to support vulnerable communities. And forge a “new normal” in the functioning of capital markets and international development actors.
Conclusion
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