Stakeholder capitalism is emerging as a collective priority given the clear interdependence of healthy societies, economies, and the environment. Despite COVID-19 disruptions, two in five organizations are continuing their environmental, social, and governance (ESG) journey and one in five have听听and multi-stakeholder approach. Yet, as organizations busily reinvent themselves, it is clear they need to anticipate and fulfill unmet needs; globally,听听their family needs, for instance.
听
Organizations want and need to ensure sustainability is at the heart of business transformation 鈥 from company purpose, work standards and investment strategies to circular economy aspirations, environmental impact and supply chain standards.
听
The challenge is for organizations to live by their pledges to听. How? By ensuring that these statements are the start of a journey towards becoming sustainable at the core 鈥 in other words, transforming to deliver every area of the business in line with sustainability principles. To do this, organizations need to:
听
- Embed sustainability in their purpose and culture
- Transform for sustainability
- Establish people sustainability as the 鈥渟ocial鈥 in ESG
- Differentiate themselves through sustainable investments
Sustainable business is no longer an isolated, single sphere of responsibility, but rather a multi-stakeholder agenda and part of a collective social and environmental ecosystem.
