The Great Reset: the power of collaboration

January is often a time for people to reflect on their personal goals and growth, looking back at what they accomplished during the past year, and what they’re looking forward to in the year ahead.

The Great Reset

Personally, I find it very fitting that the Forum has chosen ‘the Great Reset’ as their theme for the year. They will focus on how to build a better society post-pandemic – one that is more equitable, more inclusive, and more sustainable. 

Another good opportunity with the Great Reset is making sure that companies take a holistic view of their role. It has become much clearer that the role of a company to simply be profitable and serve stakeholders has evolved; there’s now an expectation that companies should make a positive impact in society.

I firmly believe it’s not a choice about doing good and doing business – it’s the intersection where companies like Ericsson can drive inclusive growth that will benefit customers, consumers and society. This evolution was highlighted in the most recent Edelman Trust Barometer – companies are seen as the most trusted institutions and CEOs are expected to lead and take action on social issues.

Harnessing the technologies of the Fourth Industrial Revolution

The technology we deliver is fundamental to the advancement of society, not least the Fourth Industrial Revolution, which will change the way goods are produced, consumed and delivered. A key part of this transformation is the move towards industrial automation and the concept of the flexible factory.

We’ve been exploring how manufacturing can develop in the next 10 years with the technologies that we and other companies are developing. Technology like 5G can revolutionize things like sustainability and safety through things like smart energy use, automated systems and the use of virtual and augmented reality.

As Mikael points out, one of the reasons we’ve been connecting with the Forum on topics like 5G and IoT is because they have a strong connection to industries and regulators — and no one is going to be able to move towards an Industrial Revolution alone. We need to work together.

Advancing global and regional cooperation

If we think about how important our technology is and how digitalization will underpin so much of sustainable development, of course we reach a problem: not everyone is connected. In fact, nearly half of the world is not.  This has been highlighted this past year during which we saw a transformation towards virtual life, where people needed to work or study from home. If you did not have a good connection, you suddenly weren’t able to work or attend school. This means we have to look at partnerships and ecosystems that help deliver and drive those benefits for all.

And connectivity really is no longer a luxury. In our work with Ericsson Response (link), we’ve met people affected by natural disasters, and they are as much looking to be connected as other basic necessities.

One of the most recent examples of our work here is our partnership with UNICEF. Last year, we announced a three-year initiative to identify connectivity gaps in 35 countries in a journey towards connecting every school to the internet by 2030. According to the ITU, 360 million young people currently do not have access to the internet. This results in exclusion, fewer resources to learn, and limited opportunities for the most vulnerable children and youth to fulfill their potential. Improved connectivity will increase access to information, opportunity, and choice, enabling generations of school children to take part in shaping their own futures.

Driving responsible industry transformation and growth

If you focus in on responsibility, it’s something that Ericsson, under the leadership of our President and CEO Börje Ekholm, has been especially driving.  Among other things, he’s been a driving force in the Forum’s Partnership Against Corruption Initiative, where he has helped to galvanize members of the ICT sector and the mobile sector to participate in this cross-industry initiative. That’s not to be underestimated because no single industry is the root of, or immune from, corrupt practices. It’s essential that we have a cross section and enough representation from each sector to tackle the challenge of corruption.

We must also understand not only the environmental impacts we create as an enterprise, but the way our products, services and solutions can support climate action. According to Ericsson Research, digital technology like 5G can transform industry sectors and enable a reduction of global carbon emissions by up to 15 percent by 2030.

We have over 20 years of life-cycle assessments that inform our environmental decisions and targets.  Working with organizations in the CEO Climate Leaders of the World Economic Forum, we are demonstrating our commitment to a 1.5 degree future. Highlights include a commitment to becoming carbon neutral, through science-based targets on our portfolio energy reduction and by scaling the impact of climate action not only with our customers but also across the value chain, most recently launching the 1.5C Supply Chain Leaders initiative to drive a net-zero supply chain.

The power of partnerships

It seems fitting that, in the end, it comes back to collaboration. One thing that strikes me when we think about the Great Reset is the power of partnerships. Sometimes people consider collaboration or being part of an effort as “less than”—but I am convinced that collective action is the only way to truly achieve the Great Reset.

At Ericsson, our technology enables so many societal changes to happen, whether it’s climate action or access to education. We may not be the ones driving it ourselves, but we’re creating the platforms that make change possible, and I cannot think of a better position for a company to be in. 

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