[Editors note: Thank-you Joss Tantram for this thoughtful article.]
This was a thought that popped into my mind after a number of real-life and online conversations about the concept of multiple capitals. This notion proposes that there is a range of sources of value (capitals) that give rise to economic and social benefits, but that current accounting and economic approaches recognise only one — financial capital.
CSR is dead – it’s over! So declared Peter Bakker – President of the World Business Council for Sustainable Development – at the recent Sustainability Science Congress in Copenhagen.
Bakker’s key argument is that leading companies are already going way beyond CSR and are integrating sustainability within everything they do, in recognition that business cannot succeed, if society fails. He urges us to innovate – to align with facts, to redesign what we mean by good performance, and to get inspired by new definitions of success.
A moneylender sees the light, discovering a spirit of giving and generosity. It’s a classic Christmas tale of redemption – and redistribution – but this year the convert in question appears to be one of Canada’s biggest banks. In a recent report, economists at TD bank laid out “The Case for Leaning Against Income Inequality” pointing out the dangers of the widening divide, and giving some strong suggestions on how to turn the tide.
While the falsehood that fiduciary duty means solely making money for shareholders is being chipped away, many business leaders still cling on to this behaviour.
The world of business appears to be so powerful and robust from the outside but look up close and it is brittle and full of fear.
“Our fetish for economic growth has led us astray”
We need a better way to measure our societies, a measure based on the real things that matter to real people. Do I have enough to eat? Can I read and write? Am I safe? Do I have rights? Do I live in a society where I’m not discriminated against? Is my future and the future of my children prevented from environmental destruction? These are questions that GDP does not and cannot answer- it’s time for the Social Progress Index.
Join TSSS on April 1st as our panel explores the power of sport to reach people and communities like nothing else can. Topics to be discussed include: Community Engagement, Sustainable Purchasing, Importance of a Clear Vision, Diversity and Inclusion, Branding and Leaving a Legacy. Learn more
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