2020 is seeing many people being confronted with an unforeseen situation. In Japan, the Olympics and Paralympics were to be held for the first time in 56 years with a variety of events bringing uncountable excitement to the country. Unfortunately, this reality took a most unexpected turn.

Due to the advance of globalization and the broad growth of the Chinese economy, the coronavirus rapidly spread not only in China, but throughout the world as well. Measures to stop the spread of the virus, such as stay at home restrictions and border shutdowns, are being implemented the world over, and as of March 2020 there was little sign that the freedom of movement would return anytime soon. As a result, global demand has all but dried up, striking industries with one of the largest impacts ever.

Companies are making every effort to grasp the business repercussions and build resilient businesses. However, companies are uncertain over how far the spread of the infection will go, how deep the extent of its impact will be, and whether the pandemic will lead to further unexpected circumstances. It could be said that this is an example of the unexpected as the new normal.

This reality is forcing companies to rethink and revise the way they are and the way they do things. The Global Risks Report 2020 put out by the World Economic Forum prior to this year's meeting in Davos cited the top 10 future risks the world faces. In addition to infectious diseases, 5 of them were environmental-related; extreme weather, climate action failure, natural disasters, biodiversity loss, and human-made environmental disasters.

Keidanren has long considered "Society 5.0 for SDGs" (sustainable development goals) as a model for the role private sector companies should play in society and have reframed the Charter of Corporate Behavior to realize a society in which economic growth and solving social issues are compatible and congruent. In regard to the environment, Keidanren is also promoting "Challenge Zero", to support company innovation that holds the key to a long-term substantial reduction of greenhouse gases on a global scale.

From this point, everyone working in a company must share these principles. While working to make a profit, everyone must also recognize, at the same time, the environment, society and future generations as equal stakeholders. It is our duty, living in the present day, to make every effort to reduce the impact of unexpected events that may occur in the next era.