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2023 | OriginalPaper | Buchkapitel

4. The COVID-19 Pandemic and ESG Reporting Priorities: Far Beyond Business as Usual

verfasst von : Karamo NM Sonko, Mariama Sonko

Erschienen in: Demystifying Environmental, Social and Governance (ESG)

Verlag: Springer International Publishing

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Abstract

This chapter assesses the impact of Covid-19 on African economies and the implications for ESG reporting. In the process, we discuss the incidence of COVID-19, the measures that have been or are being undertaken to contain and eliminate it in the continent. We also make recommendations for broader measures as well as ESG-specific actions necessary for the purposes of containment and elimination.

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Fußnoten
1
Roberto Cardarelli, Mercedes Vera-Martín, and Mr. Subir Lall (eds.), Promoting Inclusive Growth in the Middle East and North Africa Challenges and Opportunities in a Post-Pandemic World, IMF, October 2022.
 
2
Depending on how many countries are counted or count themselves as North African.
 
3
For the petroleum price movements and impact on MENA during the pandemic see, for instance: David Gaffen, “Analysis: Oil's Journey from Worthless in the Pandemic to $100 a Barrel,” Reuters, February 24, 2022, https://​www.​reuters.​com/​business/​energy/​oils-journey-worthless-pandemic-100-barrel-2022-02-24/​; Cheima Gharib, Salma Mefteh-Wali, Vanessa Serret, and Sami Ben Jabeur, “Impact of COVID-19 Pandemic on Crude Oil Prices: Evidence from Econophysics Approach,” Resource Policy (December 2021); 74: 102392; Published online 2021 October 4. https://​doi.​org/​10.​1016/​j.​resourpol.​2021.​102392; and Bloomberg, “Oil’s Spectacular Covid Crash Set the World Up for $100 Crude,” February 17, 2022, https://​www.​bloomberg.​com/​news/​articles/​2022-02-16/​oil-prices-near-100-as-global-economy-struggles-to-balance-post-covid-crash. For the impacts on exporters, importers and the energy transition, refer to, for instance: Will Horner, “North African Countries Snap Up Russian Oil Products Shunned by West,” The Wall Street Journal, February 25, 2023; Callee Davis, “Ripple effects of a Russia-Ukraine war,” Oxford Economics, March 3, 2022; Paul Rivlin and Joel D. Parker, “The Ukraine War and the Middle East: The Rich Get Richer and the Poor Get Poorer,” Middle East Economy, Vol. 12, No. 3 (July 2022); and Fernando C. Hernandez, “Russia/Ukraine War Puts the Energy Transition in Danger,” Journal of Petroleum Technology (July 5, 2022).
 
4
https://​covid19.​who.​int/​table/​, last visited on November 26, 2022.
 
5
This is a common trend all over the world. In Japan, for example, the cumulative number of deaths by age groups starts to climb in the 60s for both males and females and is largest in the 80–90-year cohort for both sexes. However, the number for those over 90 is lower than the 80–90-year cohort. https://​covid19.​mhlw.​go.​jp/​en/​. From the Japanese Ministry of Health, Labour and Welfare, see https://​covid19.​mhlw.​go.​jp/​en/​, last visited January 16, 2023.
 
7
The INFORM Severity Index is a composite index, which puts together 31 core indicators, in three groups: impact, conditions of affected people, and complexity. The indicators are calculated on a scale of 1 to 5. The scores are then aggregated into the three groups or components to determine the overall severity, with scores ranging from very low to high. The three dimensions are weighted according to their contribution to severity through the impact of the crisis, conditions of affected people, and complexity. More information on the Index can be found in https://​www.​acaps.​org/​methodology/​severity#:​~:​text=​The%20​INFORM%20​Severity%20​Index%20​is%20​a%20​composite%20​index%2C%20​which%20​brings,scale%20​of%20​1%20​to%20​5, last visited January 16, 2023.
 
9
For the economic impacts of COVID-19 on the world and the responses, the reader also refer to the World Bank, “The Economic Impacts of the COVID-19 Crisis,” chapter 1, World Development Report 2022, last accessed on April 12, 2023, at https://​www.​worldbank.​org/​en/​publication/​wdr2022/​brief/​chapter-1-introduction-the-economic-impacts-of-the-covid-19-crisis.
 
11
World Bank, “The World Bank in Africa. COVID-19 (Coronavirus) Response,” October 1, 2021, https://​www.​worldbank.​org/​en/​region/​afr/​coronavirus, last visited December 10, 2022. The number of those thrown into extreme poverty has been estimated at 53 million in 2020 by Etayibtalnam Koudjom, Sévérin Tamwo, and Koffi D. Kpognon, “Does Poverty Increase COVID-19 in Africa? A Cross-Country Analysis,” Health Economics Review, Vol. 12, Article No. 51 (2022).
 
12
See, for examples, APA News, “Gambian Minister Makes Sensational Covid-19 Corruption Claims,” May 17, 2020; BBC News, “Coronavirus in South Africa: Misuse of Covid-19 Funds ‘Frightening’,” September 2, 2020; and Africanews, “Africa’s Covid-19 Corruption That Outweighs Pandemic,” May 25, 2021; last visited December 10, 2022.
 
13
Medical researchers are not in total agreement. For a summary of the research, and summary of the research and evidence refer to: Hilary Guite, “How Does Weather Affect COVID-19?” Medical News Today, August 16, 2020; Domagoj Kifer et al., “Effects of Environmental Factors on Severity and Mortality of COVID-19,” Frontiers in Medicine, January 20, 2021, https://​doi.​org/​10.​3389/​fmed.​2020.​607786.
 
14
For example Omer et al. (2021) observed that the mortality rate among Sudanese patients with COVID-19 infection was 29%, this was higher than the reported rates of 17.6% and 3.9% in published studies. However, this rate was still lower than the rate reported in other places, citing Brazil specifically. Ghada Omer Hamad Abd El-Raheem, Maysoun Ahmed Awad Yousif, Doaa Salih Ibrahim Mohamed, “Prediction of COVID-19 Mortality Among Hospitalized Patients in Sudan,” MedRxiv, https://​www.​medrxiv.​org/​content/​10.​1101/​2021.​03.​09.​21253179v1.​full-text.
 
16
Eduardo Mathies, “Mortality Risk of COVID-19,” Our World in Data, 2020, last visited December 4, 2022, https://​ourworldindata.​org/​mortality-risk-covid; also refer to Worldometer, “Coronavirus (COVID-19) Mortality Rate,” https://​www.​worldometers.​info/​coronavirus/​coronavirus-death-rate/​, last visited December 13, 2022.
 
17
For further and detailed information refer to: Ariel Karlinsky and Dmitry Kobak, “Tracking Excess Mortality Across Countries During the COVID-19 Pandemic with the World Mortality Dataset,” published online June 30, 2021, https://​doi.​org/​10.​7554/​eLife.​69336, retrieved April 1, 2023; Charlie Giattino et al., “Excess Mortality During the Coronavirus Pandemic (COVID-19),” https://​ourworldindata.​org/​excess-mortality-covid#excess-mortality-our-data-sources, April 1, 2023; Lone Simonsen, and Cecile Viboud, “A Comprehensive Look at the COVID-19 Pandemic Death Toll,” published online August 12, 2021. https://​doi.​org/​10.​7554/​eLife.​71974, https://​www.​ncbi.​nlm.​nih.​gov/​pmc/​articles/​PMC8360646/​, April 1, 2023.
 
19
https://​covid19.​who.​int/​table, last visited November 29, 2022.
 
20
Karamo N. M. Sonko, “Debt in the Eye of a Storm: The African Crisis in a Global Context,” Africa Today, Vol. 9, No. 10 (1990). For the risks of the Corona virus in such an environment, see for instance: A. Wilder-Smith, “COVID-19 in Comparison with Other Emerging Viral Diseases: Risk of Geographic Spread via Travel,” Tropical Diseases, Travel Medicine and Vaccines, Vol. 7, No. 3 (2021), https://​doi.​org/​10.​1186/​s40794-020-00129-9.
 
21
Some of these moribund organizations are struggling to survive financially whilst others have significant resources. The world may be better off identifying and shutting them down.
 
22
China and Russia are among the world’s most powerful countries, but it may be arguable whether to count them among the developed countries.
 
23
Patrick J. Sweeney II, Fear Is Fuel: The Surprising Power to Help You Find Purpose, Passion, and Performance, Rowman & Littlefield Publishers, 2020, inside cover?
 
24
The first author of this book was Vice President of Tasiast Mauritania Ltd., a mining subsidiary of Canadian companies, Red Back Mining, then Kinross Gold. As Vice President during one of the biggest discoveries of gold in Africa in the decade of the 2000s, he was directly responsible for community and government relations, business development, and, over a number of years, for environmental oversight in the company. In addition to this, both authors have been involved in community health projects in East, North, and West Africa through their own foundation, Heeno International, since 2011. Our experience proves two things: (1) Financing—the necessity for companies to be involved in building better health facilities and services in Africa through private funding and the management of such funding and (2) sustainability—the abilities or willingness of the governments and communities to maintain these facilities and services at desirable standards over a very long period of time.
 
Metadaten
Titel
The COVID-19 Pandemic and ESG Reporting Priorities: Far Beyond Business as Usual
verfasst von
Karamo NM Sonko
Mariama Sonko
Copyright-Jahr
2023
DOI
https://doi.org/10.1007/978-3-031-35867-8_4