Dear Stakeholders,

Like you, all of us at EnhancedExchange is rapidly adapting to the outbreak of the coronavirus. Our priority is the health and safety of our colleagues and the networks we touch. We believe EnhancedExchange’s mission of strengthening transatlantic cooperation is only more relevant and urgent at a time when national approaches mark the response to this pandemic. The coronavirus has profound implications for every aspect of EnhancedExchange’s work across our programs and offices. We also continue to work on the longer-term with initiatives such as our high-level transatlantic task force to develop concrete policy solutions to shared challenges. The Covid-19 is primarily a health crisis, but it is fast becoming an economic, logistical and supply crisis as well. Though some observers are asking whether the economic damage will be more significant than the health damage. At EnhancedExchange, we believe that both remain important and continue to monitor developments related to the unprecedented spread of coronavirus.

We share our heartfelt support and solidarity with the people, businesses, and communities who have been affected by this global pandemic. We are optimistic that by acting in concert, we will curtail the spread of the virus. Cooperation with solutions remains relevant, as the world has never confronted a crisis quite like COVID-19, one that has simultaneously tested both the limits of public health systems everywhere and the ability of countries to work together on a shared challenge. Depending on how long COVID-19 lasts, its impact could match that of a world war, in terms of the number of people it affects, the changes to daily life it brings on every continent, and its human toll. Though we should all recognize the permanent changes that underway with the impact on business, trade, and markets could result in the most devastating global economic crisis since the Great Depression. The Dow Jones has posted two of the top five worst declines in its history, and not since the 1987 crash has such been evident, we have now witnessed wealth destruction on such a grand scale, this fast.

According to some of the world’s top economists and investors, this pain is only the beginning. Because this time it is different. The worst may not be here yet. We are at a critical moment, with investors panicking and fearful. Central banks around the world are slashing rates. Restaurants, bars, cities, and entire countries are shutting down. Never has the global economy been turned off so fast. There are economic, health, and societal shocks all happening at the same time. How you position your investments in the coming weeks will have a significant impact on your portfolio going forward. The result of all this unprecedented coordination will change the global landscape, everything from supply chains to loan repayment schedules, to banking even commodities. Everything will be affected as the last months have thrown our everyday certainties up into the air as the world is changing with breakneck speed. We are dedicated to playing a leading part in shaping foods, agriculture and production, animal plant and nutrition, fisheries aquaculture, and science.

We are committed to the idea that science and technology can help the world tackle its toughest challenges. Our scholars have been actively sharing impactful research with thinkers around the globe, contributing timely insight and policy ideas to fight the COVID-19 crisis. The coronavirus pandemic has hit everyone hard, disrupting our health, economy, and society. It has also led to adjustments in how we at EnhancedExchange are doing our work, but will not change the creativity and vigor we bring to our mission. We recognize that at such times as a crisis, it is inspiring to see the power of empathy and cooperation. We see levels of cooperation bringing people together, overcoming division, and hostility. On such as climate change, we recognize understanding increases, because the only way to deal with a global pandemic is through collaboration, not isolation. However, expectations of stability, predictability, and safety are based on all too flimsy foundations.

Notably, foundations that had been already fragile for so many around the world remain acute, presenting greater challenges, while at risk for that which may or not follow. Like everyone else, here at EnhancedExchange, we have been focusing on keeping safe, helping each other, and doing what we can to help slow the pandemic. Primarily, this has been our priority, but we have also been turning our thoughts to what this crisis means for how we continue to tackle climate changes such as another crisis, which threatens lives and livelihoods globally unless urgent action is taken. Whether you are confined or working under challenging conditions, we need to be able to focus on both short and long-term threats to people’s safety and well-being. Therefore, at this critical moment, we should all be concentrating on containing the spread of this terrible disease and saving our economy. Consequently, we must continue working on taking action that puts resilience, preventative, and human security at the center of everything we do now and in the future.

The globe is entering a new era of debt management. Still, If a stimulus is not distributed quickly enough, or if the fear of coronavirus infection drags on too long, even mammoth governmental packages may not be enough to avoid huge uncertainties. Notably, in a fast-moving crisis, we need to communicate with empathy and honesty, not just internally, but externally as well. Of course, customers require a different approach than employees. We recognize this future path will have peaks, valleys, and curves, and we are prepared. We will walk through those challenging times side by side, one step at a time, and we will come out on the other side more robust, more compassionate, and more globally connected. Since the pandemic outbreak, we have adapted rapidly to this new operating environment. Our experts have and continue answering the call with leading insights into the virus’ impact on foods, agriculture and production, animal plant and nutrition, fisheries aquaculture, and science.

We will look at COVID-19’s implications for global supply chains and many other issues. These are challenging times but through preparation and partnership, we see prevailing is a reasonable, achievable outcome. The resilience of our private institutions and the prosperity they create are what will ultimately see us through this change in environment, business practices and food product supply chains. As believers in the importance of individual liberty, it is incumbent on each of us to take responsibility for the welfare of our communities by taking appropriate precautions to safeguard the health of not just our families, but all with whom we may come in contact. We must protect them so they can continue to benefit future generations. Therefore, in these extraordinary times, we will continue to strive to make the world a safer and more resilient place through knowledge. Meanwhile, this effort is all for the betterment of those we love and serve.

However, this will not be a comfortable journey, and we need everyone with us as we all do our part to mitigate the toll of the pandemic. Life must also go on as much as possible, and we recognize that moments of crisis are often when our liberties are most threatened. Necessity precipitates change. The coronavirus has created a necessity that is going to force radical change in our society and business as our mission of serving others is the lifeblood of our business and culture. How we conduct our activities will evolve as part of that change through our employees who continue to demonstrate their mindfulness and commitment to inclusion, respect, and collegiality. Our staff has stepped up their efforts for our customers, many of whom we believe need us now more than ever. THANK YOU to our stakeholders for continuing to serve others. I wish everyone the best in these difficult times.

We hope that all of you in our community are safe and healthy. We are committed to catalyzing solutions and fostering leadership on both sides of the Atlantic together with you that will empower democratic societies to emerge from this pandemic robust and resilient.

Take good care,

The President & CEO