New Normal Scenarios from COVID-19 Reopen Sentiment Analytics Jim Samuel, Md

Total Page:16

File Type:pdf, Size:1020Kb

New Normal Scenarios from COVID-19 Reopen Sentiment Analytics Jim Samuel, Md medRxiv preprint doi: https://doi.org/10.1101/2020.06.01.20119362; this version posted June 2, 2020. The copyright holder for this preprint (which was not certified by peer review) is the author/funder, who has granted medRxiv a license to display the preprint in perpetuity. It is made available under a CC-BY-NC-ND 4.0 International license . 1 Feeling Positive About Reopening? New Normal Scenarios from COVID-19 Reopen Sentiment Analytics Jim Samuel, Md. Mokhlesur Rahman, G. G. Md. Nawaz Ali, Member, IEEE, Yana Samuel, Alexander Pelaez, Peter H.J. Chong, Senior Member, IEEE, and Michael Yakubov Abstract—The Coronavirus pandemic has created complex worldwide directly or indirectly. The current Coronavirus challenges and adverse circumstances. This research identifies pandemic disaster has led to escalating emotional, mental public sentiment amidst problematic socioeconomic consequences health, and economic issues with significant consequences, and of the lockdown, and explores ensuing four potential sentiment associated scenarios. The severity and brutality of COVID-19 this presents a serious challenge to reopening and recovery have led to the development of extreme feelings, and emotional initiatives [2]–[4]. In the United States (US) alone, COVID- and mental healthcare challenges. This research focuses on emo- 19 has infected well over 1.25 million people and killed over tional consequences - the presence of extreme fear, confusion and 80,000, and continues to spread and claim more lives [5]. volatile sentiments, mixed along with trust and anticipation. It is Moreover, as a result of the ’Lockdown’ (present research uses necessary to gauge dominant public sentiment trends for effective decisions and policies. This study analyzes public sentiment Lockdown as the term representing the conditions resulting using Twitter Data, time-aligned to the COVID-19 reopening from state and federal government Novel Coronavirus response debate, to identify dominant sentiment trends associated with regulations and advisories restricting government, organiza- the push to ’reopen’ the economy. Present research uses textual tional, personal, travel and business functionalities), over 30 analytics methodologies to analyze public sentiment support for million people lost their jobs along with a multi-trillion dollar two potential divergent scenarios - an early opening and a delayed opening, and consequences of each. Present research economic impact [6]; furthermore these alarming numbers concludes on the basis of exploratory textual analytics and textual are growing everyday. There is tremendous dissatisfaction data visualization, that Tweets data from American Twitter among common people due to the continued physical, material users shows more positive sentiment support, than negative, and mental health challenges presented by the Lockdown, for reopening the US economy. This research develops a novel evidenced by the growing number of protests across the US sentiment polarity based four scenarios framework, which will remain useful for future crisis analysis, well beyond COVID-19. [7]. There appears to be a significant sentiment, and a strong With additional validation, this research stream could present desire in people to go back to work, satisfy basic physical, valuable time sensitive opportunities for state governments, the mental and social needs, and eagerness to earn money as federal government, corporations and societal leaders to guide shown in descriptive public sentiment summary graph in Fig. local and regional communities, and the nation into a successful 1. However, there is also a significant sentiment to stay safe, new normal future. and many prefer the stay-at-home Lockdown measures to ensure lower spread of the Coronavirus [8]. Public sentiment I. INTRODUCTION has a significant impact on policy and politicians, and cannot be ignored [9]–[11]. Therefore, to a consequential measure, the reopening of America, and its states and regions will be HE anxiety, stress, financial strife, grief, and general influenced by perceived public sentiment. Tuncertainty of this time will undoubtedly lead to behavioral Hence, it is important to address the question: What is the health crises. - Coe and Enomoto, McKinsey on the dominant public sentiment in America concerning the reopen- COVID-19 crisis [1]. ing and in some form, going forward into a New Normal?. COVID-19 has become a paradigm shifting phenomenon ’New normal’ is a term being used to represent the potentially across domains and disciplines, affecting billions of people transformed socioeconomic systems [12], as result of COVID- 19 issues, amidst the likelihood of multiple future waves of the (Corresponding author: G.G.M.N. Ali). Coronavirus pandemic. There is a fear that the current Coro- J. Samuel and G.G.M.N. Ali are with the University of navirus wave will see a spike in COVID-19 infections with Charleston, WV, USA, e-mail: fjimsamuel,[email protected], [email protected]. reopening and associated loosening of Lockdown restrictions. M. M. Rahmain is with the University of North Carolina at Charlotte, The present study analyzed public sentiment using Tweets Charlotte, NC, USA and Khulna University of Engineering & Technology from the first nine days of the month of May, 2020, with a (KUET), Khulna, Bangladesh, e-mail:[email protected]. Y. Samuel is with the Northeastern University, Boston, MA, keyword “reopen” from users with country denoted as USA, to USA, e-mail:[email protected]. A. Pelaez is with the Hofstra gauge public sentiment along eight key dimensions of anger, University, NY, USA, e-mail:[email protected]. P. H.J. anticipation, disgust, fear, joy, sadness, surprise and trust, as Chong is with the Auckland University of Technology, NZ, email:[email protected]. M. Yakubov is with Theresumaniacs.com, visualized in Fig. 1. Twitter data and Tweets text corpus have NJ, USA, e-mail:[email protected]. been widely used in academic research and by practitioners NOTE: This preprint reports new research that has not been certified by peer review and should not be used to guide clinical practice. medRxiv preprint doi: https://doi.org/10.1101/2020.06.01.20119362; this version posted June 2, 2020. The copyright holder for this preprint (which was not certified by peer review) is the author/funder, who has granted medRxiv a license to display the preprint in perpetuity. It is made available under a CC-BY-NC-ND 4.0 International license . 2 Reopening Sentiments Summary use PPE (personal protective equipment) and strict public hygiene [30]. All of these would need to be implemented while protecting the most vulnerable sections of the population, using potential strategies such as the ’relax-at-home’ or ’safe- 1500 at-home’ mode. Moreover, the states would be expected to increase testing, tracing and tracking of COVID-19 cases, and 1000 ensure ample PPE supplies. Phase 3: It would be possible for people to go back to near-normal pre-Coronavirus lifestyles, Total Sentiment Score Total when proven vaccines and/or antibodies become commonly 500 available, and mass-adoption sets in. Early research shows that 90% of transmissions have taken place in closed environments, namely, home, workplace, restaurants, social gatherings and 0 trust anticipation fear sadness joy anger surprise disgust public transport, and such prevalence in critical social spaces Sentiment Categories contributed to increased fear sentiment [31], [32]. Technology driven social interaction and digital social spaces, on the Fig. 1. Reopening public sentiment summary contrary, can have a positive sentiment impact and reduce fear [33]. in multiple disciplines, including education, healthcare, expert and intelligent systems, and information systems [13]–[19]. Sentiment analysis with Tweets presents a rich research op- portunity, as hundreds of millions of Twitter users express their messages, ideas, opinions, feelings, understanding and beliefs through Twitter posts. Sentiment analysis has gained prominence in research with the development of advanced linguistic modeling frameworks, and can be performed using multiple well recognized methods, and tools such as R with readily available libraries and functions, and also through the use of custom textual analytics programming to identify dominant sentiment, behavior or characteristic trait [20]–[22]. Tweets analytics have also been used to study, and provide valuable insights on a diverse range of topics from public Fig. 2. Wordcloud summary of Tweets data. sentiment, politics and pandemics to stock markets [9], [23]– [27]. From a current sentiments analysis perspective, since a large There are strong circumstantial motivations, along with ratio of people need to start work, return to their businesses and urgent time-sensitivity, driving this research article. Firstly, jobs, and restart the economy, a quick reopening is perceived in the US alone, we have seen over 97,000 deaths and over as being strongly desirable. However, there is fear regarding 1.6 million COVID-19 cases, at the point of writing this a potential second outbreak of the COVID-19 pandemic, and manuscript, and the numbers continue to increase [28]. Sec- this presents a cognitive dilemma with implications for mental ondly, there have been significant economic losses and mass health and emotional conditions. Information and informa- psychological distress due to unprecedented job loss for tens tion formats have an impact on human sentiment, behavior of millions of people. These circumstantial
Recommended publications
  • COVID-19 and Economic Policy Toward the New Normal: a Monetary-Fiscal Nexus After the Crisis?
    IN-DEPTH ANALYSIS Requested by the ECON committee Monetar y Dialogue Papers, November 2020 COVID-19 and Economic Policy Toward the New Normal: A Monetary-Fiscal Nexus after the Crisis? Policy Department for Economic, Scientific and Quality of Life Policies Directorate-General for Internal Policies Author: Thomas MARMEFELT EN PE 658.193 - November 2020 COVID-19 and Economic Policy Toward the New Normal: A Monetary-Fiscal Nexus after the Crisis? Monetary Dialogue Papers, November 2020 Abstract Current developments during the COVID-19 pandemic involve strongly complementary monetary and fiscal policy, but both as responses to COVID-19 and not the outcome of an emergent monetary-fiscal nexus. Therefore, the ECB maintains its independence by using unconventional monetary policy measures to reach price stability, according to its mandate. This document was provided by the Policy Department for Economic, Scientific and Quality of Life Policies at the request of the Committee on Economic and Monetary Affairs (ECON) ahead of the Monetary Dialogue with the ECB President on 19 November 2020. This document was requested by the European Parliament's committee on Economic and Monetary Affairs (ECON). AUTHOR Thomas MARMEFELT, CASE – Center for Social and Economic Research (Warsaw, Poland) and University of Södertörn (Huddinge, Sweden) ADMINISTRATOR RESPONSIBLE Drazen RAKIC EDITORIAL ASSISTANT Janetta CUJKOVA LINGUISTIC VERSIONS Original: EN ABOUT THE EDITOR Policy departments provide in-house and external expertise to support European Parliament committees
    [Show full text]
  • The COVID Implication Life After Lockdown – the “New Normal” a Financial Services Industry Overview
    The COVID implication Life after lockdown – the “new normal” A Financial Services Industry overview July 2020 Contents Global economy 01 SA in the spotlight 06 Impact on financial services 10 Operating model impact 15 Considering the recovery scenarios 18 In conclusion 20 Global economy The COVID implication, Life after lockdown – the “new normal” | A Financial Services Industry overview Global events that have shaped financial services Since the inception of the 21st century several financial and economic events have had a major impact on the global financial services landscape. 2002 2015 Loss of investor Greek debt crisis confidence. US triggers Eurozone debt Stock market crash crisis. The ECB were holders of €26.9bn in 2000 2007 2011 Greek debt 2020 Dot.com (internet) Start of Global Recession and Japan’s nuclear and COVID impacts the bubble crash Wall Street collapse Tsunami disaster. globe. Financial impact 28,000 people feared still to be quantified dead or missing 2001 2008 9/11. World Trade Centre Lehman Brothers files for attack bankruptcy triggering global 2005 financial meltdown 2016 Hurricane Katrina & BREXIT. 1.7% increase in RITA hit the coast of UK inflation at an annual the USA costing $200bn average cost of £404 per household The global COVID-19 pandemic will have an indeterminate impact on the South African economy Financial market event Economic event 01 The COVID implication, Life after lockdown – the “new normal” | A Financial Services Industry overview 2020: COVID-19 causing a global economic contraction The Novel COVID-19 pandemic has caused chaos across the globe with developing economies bearing the greater brunt.
    [Show full text]
  • Covid-19 Knocks on American Hegemony
    the new normal in Asia A series exploring ways in which the Covid-19 pandemic might shape or reorder the world across multiple dimensions Covid-19 Knocks on American Hegemony Ashley J. Tellis May 4, 2020 After almost two decades of conflicted hesitancy, the United States finally acknowledged that it is involved in a long-term strategic competition with China. This rivalry, almost by definition, is not merely a wrangle between two major states. Rather, it involves a struggle for dominance in the international system, even if China as the rising power disavows any such ambition. China’s very ascendancy—if sustained—could over time threaten the U.S. hegemony that has been in place since the end of World War II. It is this reality of unequal growth—which has nourished China’s expanding influence and military capabilities—that lies at the root of the evolving rivalry. Although the term sometimes has unsettling connotations, the United States is a genuine hegemon, understood in the original Greek sense as a leader in the competitive international system. This hegemony derives from the fact that the United States is the world’s single most powerful state. First, it remains the largest economy in real terms, a foundation that underwrites its capacity to project military power globally in ways unmatched by any peers. Second, it possesses a sufficiently Ashley J. Tellis is the Tata Chair for Strategic Affairs and a senior fellow at the Carnegie Endowment for International Peace. He is also a counselor at the National Bureau of Asian Research and the research director of the Strategic Asia Program.
    [Show full text]
  • Transitioning Asia-Pacific to a New Normal of Work
    Transitioning Asia-Pacific to a New Normal of Work In collaboration with Table of contents What does the future of work look like now? 3 We are not returning to pre-COVID offices or work styles 4 Localized workforce challenges 5 Technology: the enabler 8 Emerging trends in the new normal of work 10 The future of work is now and hybrid 16 2 What does the future of work look like now? “As different parts of the world were hit by COVID-19, life and work were changed overnight for everyone,” Microsoft Head of Marketing at Microsoft Teams, Kady Dundas, said. “All of a sudden we’ve gone from working in conference rooms to working in living rooms, and when you do that you have a high dependence on video.” “We know that we have about 200 million meeting participants each day, which equates to 4.1 billion minutes of meetings. Those data points show the tremendous movement to remote work.” The COVID-19 pandemic has forced a dramatic rethink in how people and organizations work. With social distancing becoming a leading strategy in combating COVID-19, travel to the office or to client sites is being discouraged, if not outright banned. For these companies, the only solution to remain operational has been to enable work from home. In a high-touch world, where we have been forced to operate in a low-touch mode, critical work functions such as individual productivity, team collaboration, organizational alignment and culture have been affected. How have Asia-Pacific’s legacy work styles been impacted by COVID-19, and what does the future of work now
    [Show full text]
  • Will Xi Jinping's Strongman Rule Leave China Weaker After The
    the new normal in asia A National Bureau of Asian Research series exploring ways in which the Covid-19 pandemic might shape or reorder the world across multiple dimensions Will Xi Jinping’s Strongman Rule Leave China Weaker after the Pandemic? William C. McCahill Jr. July 18, 2020 Some pandemics have changed the direction of history. Others have shifted history’s gears. In the fourteenth century, bubonic plague decisively turned European history by reordering established economic, political, and religious power, even if the new order took decades, if not centuries, to fully manifest itself. In China’s recent history, the Manchurian plague of 1910 gave a final nudge to the already debilitated Qing Dynasty, pushing it toward collapse the following year. The Covid-19 pandemic will not immediately bring the demise of the current Chinese Communist Party (CCP) regime. Indeed, in the near term it may well help tighten the regime’s authoritarian grip on the Chinese people. The party-state under General Secretary Xi Jinping continues to reverse the “reform and opening” policies that have brought China the 40 most prosperous years of its modern history. By shifting successful policies into reverse, Xi has weakened his regime on at least four counts: governance, economic growth, social cohesion, and international reputation. Although Xi’s strongman rule seems secure for the moment, the pandemic has accelerated all four trends. As the pressure on him grows, Xi and his lieges may be tempted to take rash action to preserve their power. William C. McCahill Jr. is a senior resident fellow at the National Bureau of Asia Research (NBR).
    [Show full text]
  • Meet the New Normal, Same As the Old Normal: the State Balance and Economic Policy Debates After the Pandemic
    WP 2020-11 December 2020 Working Paper Charles H. Dyson School of Applied Economics and Management Cornell University, Ithaca, New York 14853-7801 USA Meet The New Normal, Same As The Old Normal: The State Balance and Economic Policy Debates After the Pandemic Ravi Kanbur It is the Policy of Cornell University actively to support equality of educational and employment opportunity. No person shall be denied admission to any educational program or activity or be denied employmen t on the basis of any legally prohibited discrimination involving, but not limited to, such factors as race, color, creed, religion, national or ethnic origin, sex, age or handicap. The University is committed to the maintenance of affirmative action prog rams which will assure the continuation of such equality of opportunity. 2 Meet The New Normal, Same As The Old Normal: The State-Market Balance and Economic Policy Debates After the Pandemic Ravi Kanbur www.kanbur.dyson.cornell.edu This version: 7 December 2020 Contents 1. Introduction 2. New Normal Predictions and Hopes 3. State and Market: Predicted New Normals in History 4. Paradigm Shifts and Dialectics 5. Conclusion References Abstract What will happen to economic policy debates after the Pandemic? The majority view seems to be that nothing will ever be the same again. A new normal will be upon us. A combination of prediction and hope points to a major reorientation of the state-market balance towards the state. The last time we had such millennialist thinking was of course after the financial crisis of 2008-2009, when a different sort of contagion spread through the world.
    [Show full text]
  • China: the 'New Normal'
    February 2015 China: the ‘new normal’ Michal Meidan, China Matters, OXFORD ENERGY COMMENT Amrita Sen, Energy Aspects and Robert Campbell, Energy Aspects 1. Introduction Over the past decade, China has become a key driver of global oil demand growth. As China’s GDP growth increased at double-digit rates, oil demand growth increased by an average 0.5 mb/d between 2003 and 2012.1 Over the same period, China accounted for two-thirds of global oil demand growth. Thus, any changes in China’s energy profile and oil consumption habits can send shock waves through the global oil markets. In 2014, Chinese oil demand increased by 0.27 mb/d (2.7 per cent), broadly on par with 2013’s growth and the slowest pace of expansion in the past two decades. The question is whether 2014 was a blip, or the beginning of a deeper change. In this comment we argue that 2014 is a harbinger of things to come. As the government moves to rebalance the economy and implements an aggressive environmental agenda, oil consumption in China will become more efficient, leading to slower demand growth rates. Thus, any outsized expectations of Chinese oil demand growth are likely to be disappointed in 2015, and weigh on global crude prices. We also argue that the structural shift in the Chinese economy heralds not only slower demand growth, but also a shift in product demand and the structure of the refining industry, with important implications for global trade flows of crude oil and refined products. 2. The ‘new normal’ of growth The ‘new normal’ of Chinese growth, as trumpeted by President Xi Jinping, suggests slower economic growth rates and a shift away from energy-intensive sectors, including overcapacity industries such as steel, coal, and construction.
    [Show full text]
  • Psychological Impact of COVID-19 and Lockdown Among University Students in Malaysia: Implications and Policy Recommendations
    International Journal of Environmental Research and Public Health Article Psychological Impact of COVID-19 and Lockdown among University Students in Malaysia: Implications and Policy Recommendations Sheela Sundarasen 1, Karuthan Chinna 2,*, Kamilah Kamaludin 1 , Mohammad Nurunnabi 1 , Gul Mohammad Baloch 2, Heba Bakr Khoshaim 3 , Syed Far Abid Hossain 4 and Areej Sukayt 1 1 Department of Accounting, Prince Sultan University, P.O. Box 66833, Riyadh 11586, Saudi Arabia; [email protected] (S.S.); [email protected] (K.K.); [email protected] (M.N.); [email protected] (A.S.) 2 School of Medicine, Faculty of Health and Medical Sciences, Taylor’s University, No. 1, Jalan Taylors, Subang Jaya 47500, Selangor, Malaysia; [email protected] 3 Deanship of Educational Services, Prince Sultan University, P.O. Box 66833, Riyadh 11586, Saudi Arabia; [email protected] 4 College of Business Administration, International University of Business Agriculture and Technology (IUBAT), 4 Embankment Drive Road, Sector-10, Uttara Model Town, Dhaka 1230, Bangladesh; [email protected] * Correspondence: [email protected] Received: 14 July 2020; Accepted: 16 August 2020; Published: 27 August 2020 Abstract: The COVID-19 pandemic and the lockdown has taken the world by storm. This study examines its impact on the anxiety level of university students in Malaysia during the peak of the crisis and the pertinent characteristics affecting their anxiety. A cross-sectional online survey, using Zung’s self-rating anxiety questionnaire was conducted during the COVID-19 pandemic and lockdown. Out of the 983 respondents, 20.4%, 6.6%, and 2.8% experienced minimal to moderate, marked to severe, and most extreme levels of anxiety.
    [Show full text]
  • Understanding the New Normal: the Role of Demographics
    Finance and Economics Discussion Series Divisions of Research & Statistics and Monetary Affairs Federal Reserve Board, Washington, D.C. Understanding the New Normal: The Role of Demographics Etienne Gagnon, Benjamin K. Johannsen, and David Lopez-Salido 2016-080 Please cite this paper as: Gagnon, Etienne, Benjamin K. Johannsen, and David Lopez-Salido (2016). “Under- standing the New Normal: The Role of Demographics,” Finance and Economics Discus- sion Series 2016-080. Washington: Board of Governors of the Federal Reserve System, http://dx.doi.org/10.17016/FEDS.2016.080. NOTE: Staff working papers in the Finance and Economics Discussion Series (FEDS) are preliminary materials circulated to stimulate discussion and critical comment. The analysis and conclusions set forth are those of the authors and do not indicate concurrence by other members of the research staff or the Board of Governors. References in publications to the Finance and Economics Discussion Series (other than acknowledgement) should be cleared with the author(s) to protect the tentative character of these papers. Understanding the New Normal: The Role of Demographics∗ Etienne Gagnon Benjamin K. Johannsen David L´opez-Salido October 3, 2016 Abstract Since the Great Recession, the U.S. economy has experienced low real GDP growth and low real interest rates, including for long maturities. We show that these developments were largely predictable by calibrating an overlapping-generation model with a rich demographic structure to observed and projected changes in U.S. population, family composition, life expectancy, and labor market activity. The model accounts for a 1¼{percentage-point decline in both real GDP growth and the equilibrium real interest rate since 1980|essentially all of the permanent declines in those variables according to some estimates.
    [Show full text]
  • The New Normal: the Commodities Sector Post-Covid-19
    September 2020 www.fitchsolutions.com The New Normal The Commodities Sector Post Covid-19 Report Summary The New Normal | September 2020 Contents Introduction: Winners And Losers Of Post Covid-19 Commodities Trends................................................................4 Commodities Sector Post-Covid-19: Winners And Losers........................................................................................................................................... 4 Oil & Gas Sector..............................................................................................................................................................................9 Oil & Gas Outlook Post Covid-19............................................................................................................................................................................................ 9 Covid-19 Destroying Long-Term Oil & Gas Demand ...................................................................................................................................................14 Covid-19 Accelerating Corporate Strategy Shifts In Oil & Gas ................................................................................................................................22 Mining & Metals Sector..............................................................................................................................................................28 Mining & Metals Post Covid-19: Six Rising Trends To Watch .....................................................................................................................................28
    [Show full text]
  • World Economic Situation and Prospects 2021: Bibliography
    World Economic Situation and Prospects 2021 United Nations Bibliography A Afonso, Helena, and Sebastian Vergara (2021, forthcoming). The impact of COVID-19: Does inequality matter? UN DESA Policy Brief. African Development Bank Group (2020). The African Development Bank Group’s Covid-19 Rapid Response Facility (CRF). 21 April. Ahmad, Nadim, and Annalisa Primi (2017). From domestic to regional to global: factory Africa and factory Latin America? In Global Value Chain Development Report 2017: Measuring and Analyzing the Impact of GVCs on Economic Development. Chap. 3. Washington, DC: World Bank. Akinci, Ozge, and Jane Olmsted-Rumsey (2015). How effective are macroprudential policies? an empirical investigation. Board of Governors of the Federal Reserve System (FRB) International Finance Discussion Paper, No. 1136. May. Washington, DC. Altavilla, Carlo, and others (2020). The Great Lockdown: Pandemic Response Policies and Bank Lending Conditions. ECB Working Paper, No. 2465 (September). Available at www.ecb.europa.eu/pub/pdf/scpwps/ecb.wp2465~c0502b9e88.en.pdf. Altshuler, Clive, and others (2016). The World Economic Forecasting Model at the United Nations. New York: United Nations, Department of Economic and Social Affairs. Available at https://www.un.org/development/desa/dpad/wpcontent/uploads/ sites/45/publication/2016_Apr_WorldEconomicForecastingModel.pdf. Aman, Mohammad Adil, Mohd Sadiq Salman and Ali P. Yunus (2020). COVID-19 and its impact on environment: improved pollution levels during the lockdown period – a case from Ahmedabad, India. Remote Sensing Applications: Society and Environment, vol. 20: 100382. Andersson, Fredrik N.G., and Lars Jonung (2020). Don’t do it again! the Swedish experience with negative central bank rates in 2015-2019.
    [Show full text]
  • Business and Human Rights Dilemmas in the Midst of COVID-19 a Guide for Senior Executives
    Business and human rights dilemmas in the midst of COVID-19 A guide for senior executives May 2020 Business and human rights dilemmas in the midst of COVID-19 | A guide for senior executives The COVID-19 crisis is emerging as a test of business’ commitment to upholding human rights. 02 Business and human rights dilemmas in the midst of COVID-19 | A guide for senior executives The COVID-19 pandemic has catapulted the world into an unprecedented crisis. At its heart, the pandemic is a human tragedy, sadly with loss of life. Many people have been living under a state of emergency. To protect human life, we are being asked to change the way we live, withdrawing many of our personal freedoms. The economic impact will be far-reaching, with the repercussions expected to last for years. During these uncertain times, governments and business leaders have had to make quick decisions for which there is no playbook. Leaders now need to navigate a ‘new normal’ with human rights implications. Leaders are being tested in their commitment to respect human rights. This paper will help businesses respect human rights and consider the dilemmas many leaders are facing while responding to the COVID-19 pandemic. This paper focuses on the short-term human rights dilemmas around how to respond to the crisis and discusses the implications for businesses recovering post-crisis over the medium-term. Finally, it considers the integration of human rights into businesses as they adapt to a ‘new normal’ and to heightened expectations from stakeholders of responsible and resilient human rights management.
    [Show full text]