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As the Covid-19 pandemic pushes the global economy into the worst recession since WWII, systemic social risk could become a more important factor of political risk and worsen the business climate in some countries.
The economy needs to be jump started while maintaining a flat infection curve and concurrently bending the global temperature increase to stay within the 1.5 degrees warming limit.
At the end of H1 2020, we estimate the net savings of EU non-financial corporates, i.e. cash from operating activities, to have doubled to over EUR700bn, or more than 4.5% of GDP.