Stay abreast of what’s happening internationally with developments in corporate public affairs. Here is news that you may find useful and interesting:
Why We Can’t Shop Our Way to SustainabilityND
Marc Lepere and Giana Eckhardt, Stanford Social Innovation Review, July 16, 2020
To build sustainability, business leaders must partner with government and society to re-focus their companies on new forms of market exchange, explain Marc Lepere and Giana Eckhardt. New sustainability plans have meant that business leaders can refocus government policy and social needs to create sustainable products and outputs. However, change always is met with some resistance, namely, employees accustomed to working practices and managers vested in operational procedures. To ‘de-risk’ the political process, Lepere and Eckhardt recommend: attracting ESG capital to your firm, creating an industry tipping point through collective leverage, and building a consensus around the need for organisational change to better engage with competitors, regulators and peers. Likewise, a good recovery for companies post-COVID-19 will recognise consumer and societal expectations of the need to tackle much larger, dynamic crises of climate change and socio-economic inequality. To become sustainable, business leaders must adapt and re-focus expectations that improve environmental and social impacts in-line with long-term ESG investing and government collaboration.
To read more go to Stanford Social Innovation Review