La finanza dopo il Covid-19: una economia responsabile e sostenibile per la ripartenza

The Covid-19 pandemic has been a challenging test which, however, left positive lessons and the availability of fundamental resources to carry out significant structural reforms towards a more sustainable economic development model. One of the pillars of this new model will be the transformation into a circular economy for all productive sectors and an essential enabling factor is finance, understood as a tool to support investments that reflect the so6 called circular business model, in the context of green economy. The financial system directs strategic business choices and governance; it can, therefore, more than any other factor, support the transition from the traditional strategy of optimizing the risk-return ratio towards a tout court quality assessment of the investment that also involves the new variables of social and environmental impact as protagonists (international impact measurement systems and market indices made up of sustainable companies only). This shift in the outlook for financial investments involves a change in the relative time horizons: from financial market pressure demanding the best results in the shortest possible time, to long-term profitability, generated by achieving a balance between financial result, environmental impact and social implications.