Progress, Problems and Promise on the Path Toward an Inclusive Economy

Jay OwenSRI/ESG News

A Note From B Team CEO Halla Tómasdóttir 

I left the World Economic Forum’s Annual Meeting in Davos this year cautiously optimistic. My sense is that most global business leaders know we need to change the way we lead and do business to be successful in the 21st century. I would be lying if I didn’t admit that I also witnessed greenwashing, pinkwashing and purpose-washing in Davos, but it feels as if we are starting to move from talk to meaningful action on climate and engagement on the shortcomings of shareholder primacy.

Leaders who think in terms of people and planet, and value sustainability, equality and accountability in business, are growing in strength and collaborating like never before. Being in Davos this year proved an invaluable view into the progress, problems and promise on the path towards an inclusive economy.

No company can reach net-zero emissions alone—nor can we build a net-zero economy working in isolation. We need radical collaboration. Our Net-Zero Economy Report – 2020 examines how companies are taking steps in this direction with all stakeholders.

Systems that serve all stakeholders are built on trust and transparency. We won’t get there unless we end anonymous companies. That’s why 15 B Team Leaders are calling for government action in the United States.

To build a new model of leadership, we all must listen to and learn from one another. Halla Tómasdóttir joined B Team Co-Founder Sir Richard Branson to do both and discuss how business can help raise the bar on leadership today, for a better tomorrow.

What brings business and union leadership together? The Paris Agreement. For the health of the United States’ working people and its economy, Andrew Liveris, Chairman Emeritus and former CEO of Dow Chemical, and Stuart Appelbaum, Executive Council & Chair of the International Committee of the AFL-CIO urge the country to stay in the Agreement.

At the dawn of a decade, Engie CEO, Isabelle Kocher, and our Chair, Paul Polman, are calling on CEOs to strengthen their commitment to ambitious climate action—and to do so in collaboration with all stakeholders.

Africa can lead the way toward a new climate economy—and is already taking action. Dr. Ngozi Okonjo-Iweala, former Finance Minister of Nigeria, shares why the rest of the world must join suit.

Reaching net-zero emissions by 2050 is a massive challenge, but for our planet, our communities and our economies, it’s the opportunity of a generation. Sharan Burrow, Paul Polman and Laurence Tubiana stress why realizing this means we must work together.

We cannot build a better future, faster without first envisioning what it will look like. Christiana Figueres, former UNFCCC Executive Secretary, explains why—in the face of our climate crisis—world leaders must maintain a greater sense of optimism and vision.

How does trust, or lack of it, factor into growing calls for systems change? The latest Edelman Trust Barometer makes it clear—with more than half of this year’s respondents believing that capitalism, in its current form, is doing the world more harm than good.

As awareness of the climate crisis grows, how do the concerns of people around the world match up? In a new survey from IKEA, findings show that the more informed people are around climate change, the more worried they are around global inaction.

In the global effort to prevent corruption, how are countries measuring up? Transparency International’s Corruption Perceptions Index 2019 explores how 180 countries are progressing, stagnating or backsliding in public sector integrity.

Can social intrapreneurs turn companies into a force for good? Yes—Yunus Social Business’ Business As Unusual draws on insights from more than 50 practitioners to show how social intrapreneurship motivates employees, increases innovation and incites corporate transformation.

From climate to digitalization to gender equality, many of our Leaders joined crucial conversations at the World Economic Forum’s Annual Meeting in Davos. Here are just some of their highlights from last week’s discussions.

“It’s not that we are doing business or working on the SDGs. We are doing both—we won’t attract talent, customers or capital otherwise. We need to have our purpose in order. That is a massive shift.”   

Mats Granryd, Director General of GSMA, sat down with Halla Tómasdóttir and Sigve Brekke, CEO of Telenor, to discuss the transformative leadership needed from business and beyond to reach the Sustainable Development Goals.

“Capitalism, as we have known it, is dead. This obsession we have with maximizing profits for shareholders alone has led to incredible inequality and a planetary emergency.”   

Marc Benioff, Founder, Chairman and Co-CEO of Salesforces, shares how he’s put shareholder primacy into practice at his company and why he sees this new way of leading at a tipping point around the world.

“We need to move from words to action…and we have to think like a startup—not like a 130-year old company.”  

Oliver Bäte, CEO of Allianz Group, discusses the need for finance to drive the shift toward a net-zero economy—and how he’s taking action with the Net-Zero Asset Owners Alliance.