Name: Insights: Multinational Corporations Must Prioritize Global Health
Uploaded: 2020-03-16
Duration: 2 min 12 s
Description: A global pandemic could disrupt every economic sector, so why don't corporations seem to care?

[MUSIC PLAYING] PETER SANDS: If you talk about the broader business, community all of companies across multiple sectors, banks, consumer goods companies, airlines, and things, they're not really engaged in global health in the way that they engage in issues like the environment. We looked at the Fortune 500 companies and looked at how many of them had strategies or targets around the environment and how many of them had it around global health, and it was really quite striking-- around the environment, 74% and around health, 10%. And if you stripped out the pharma companies and so on, it was ridiculously low. CAROLINE BUCKEE: From in the context of pandemic preparedness, this is something that companies have to think about. If the Philippines has a massive epidemic, then all of international shipping goes down. PETER SANDS: They don't nearly enough. CAROLINE BUCKEE: Yeah, they don't. PETER SANDS: Companies don't do it nearly systematically enough. The activist community in the environmental climate change space took a very different strategy from the global health community. The activist community in environment space decided to engage with corporates, both collaboratively and also in a challenging way. And they use things like regulations, regulations on disclosures about carbon footprints and things like this as tools to get companies to think more about these things. I actually think that the global health community needs to take a long, hard look at the way it's engaging with the private sector and say, what can we learn from the way the environmental community did it to get that kind of specificity and directness in the interaction? Because at the moment, at the moment, there's deep antipathy and huge amounts of mistrust. It's one of the things that surprised me is a relative newcomer is just how distrustful of the private sector much of the global health community is. And you're just not going to get-- that's a really poor starting point from for any kind of collaboration. [MUSIC PLAYING] 

Insights: Multinational Corporations Must Prioritize Global Health

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A global pandemic could disrupt every economic sector.

Multinational Corporations Must Prioritize Global Health

A global pandemic could disrupt every economic sector, so why don't corporations seem to care?

What are you talking about? The broader business community, All of companies across multiple sectors banks, consumer goods companies, airlines, things. They're not really engaged in global health in the way that they engaged in issues like the environment. We looked at the Fortune 500 companies and looked at how many of them had strategies will target around the environment and how many of them had it around global health. And it was really quite striking around environment 74% and ran health 10. And if you strip tag the farmer companies and so on, it was ridiculously low from in a context of pandemic preparedness. You know, this is something that companies have to I think about, You know, if if the Philippines has a massive epidemic, they don't nearly enough to really think about, companies don't do it nearly systematically enough. The activist community and the environmental climate change Spain. It took a very different strategy from the global health community. The activist community and vomit told place, decided to engage with corporate but collaboratively and also in a challenging way on they use things like regulations, regulations on disclosures about carbon footprints and things like that as tools to get to get companies to think more about these things. I actually think that the global health community needs to take a long, hard look at the way it's engaging with the private sector and say, What can we learn from the way the environmental community did it to get that kind of specificity, um, and directness in the interaction? Because at the moment, a moment, this deep antipathy on huge meant to mistrust, it's one of the things that surprised me is a relative newcomer is just have distrustful of the private sector. Much of the global health community is, and you're just not going to get. That's a really poor starting point from only kind of collaboration.