The Council for Inclusive Capitalism (Council) and the World Business Council for Sustainable Development (WBCSD), the leading business voice for sustainable development, today announced a new partnership as the two organizations work in parallel to address three pressing and interconnected challenges: the climate emergency, the loss of nature and growing inequalities.
The two organizations will work closely on initiatives that will activate the business community on planning for sustainability, ensuring a just energy transition, and the measurement and disclosure of human and social capital criteria.
?? If you want to do things that matter, you have to do them together, ?? noted Meredith sumpter, CEO of the Council for Inclusive Capitalism. âOur complex challenges require collaboration and action across all industries and sectors, and the Board is delighted to partner with WBCSD to forge a more inclusive and sustainable future through the actions of our member companies.
President and CEO of WBCSD Peter Bakker added, âOnly collaboration at all levels will enable us to make the progress necessary to address the unprecedented challenges that impact us all. Together, we will support and guide businesses around the world in sharing best practices to urgently address the climate emergency, the loss of nature and growing inequalities. He continued, “ For this to be done successfully, leaders around the world must shift their mindset towards building long-term resilience, towards a regenerative approach to business and, ultimately, towards reinvention. of capitalism. ??
The WBCSD called for a world in which more than 9 billion people can live well, within the confines of the planet by the middle of the century in its Vision 2050: It’s time to transform. This new framework for action for companies includes nine courses of action across all sectors and is designed to help companies drive change in their sustainability planning and business strategies.
The Council is rooted in action. Upon joining, Council members Make concrete, measurable and significant commitments to manage their organizations in such a way as to create equality of opportunity, equitable results and equity between generations as well as for those whose circumstances prevent them from fully participating in the economy.
The Council has more than 150 members and its platform includes more than 400 commitments. Guillaume Sisson, Executive Director, North America, WBCSD, said that as part of the partnership, the Council invites the 200+ members of the WBCSD to document their societies. actions and demonstrate leadership on the board ?? s engagement platform. The organizations already have common members in Ayala Corporation, BCG, BP, DuPont, EY, Mastercard and Visa.
?? Our members recognize that there is both a moral and a business imperative to act on these issues and working together will help accelerate our collective actions to find business solutions to these issues, ?? Sisson said.
As part of collaborative efforts, Founding Council and Managing Partner of Inclusive Capital Partners Lynn Forester de Rothschild joined WBCSD ?? s Commission for companies to fight against inequalities (BCTI). BCTI seeks to mobilize the global business community to put the fight against inequalities at the heart of the business agenda for sustainable growth.
In addition, the WBCSD has agreed to support the Council’s Just Energy Transition Framework for Action, the very first guide for companies on the concrete actions they can take to implement an energy transition for workers, customers and communities. The Council will share the framework in October and invite companies, including WBCSD members, to document their own just energy transition actions, which will be shared on the sidelines of the 2021 United Nations Climate Change Conference (COP26).
The WBCSD creates impactful coalitions and networks that: facilitate knowledge sharing; enable and accelerate the adoption of standards and tools and; create advocacy contributions for common policy demands. These, in turn, enable members to accelerate the transformation of major economic systems, in line with the Sustainable Development Goals, the Paris Climate Agreement and Vision 2050.
Member companies and the WBCSD are accelerating the development of business solutions to address challenges related to energy, food systems, nature, living spaces, mobility, circular economy and social impacts. WBCSD’s unique collaborative platform enables members to transform their value chains and, with innovative approaches to integrated performance management, risk management and targeted disclosure, create new market opportunities, resilience and attract a lower cost of capital than companies that take no action.
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