The Second Accounting and Economics Webinar (AEW)

The year 2020 welcomed us with the emergence of a highly transmissible virus by the name of COVID-19. To slow the transmission of the virus, governments around the world are intervening by following different strategies and schemes by shutting down most sectors of the economy, while the only social contact remains through technology. The sudden implications of social distancing are leading to an economic fallout with suspension of global trade, market disruption, and millions of local businesses and jobs lost. The combination of the pandemic and the shutdowns is shaping a new economy and a new way of life. People are increasingly using technology in working from home, e-learning, and online shopping, which is presenting a new set of economic, social and socioeconomic problems as well as opportunities. Moreover, the strict quarantine measures and traffic restrictions have short-term implications on both the environment and economy. These measures have led to a decline in global carbon emissions and energy consumption. However, will these improvements continue? What precautions should governments and societies take to prevent the negative impacts of economic and environmental changes to maintain their sustainable development goals?