Newsletter | Business Works Best When It Works For All
Notes from the Council | February 2023
The Council for Inclusive Capitalism provides open access to the most diverse collection of leading private sector ideas for better business. With 680 ideas and counting, you can learn what business leaders are trying across 17 industries and 132 countries. Leaders of companies of all sizes and across the globe use our open-source library of business practices to find inspiration for impactful work. Each of us as business leaders have unique perspectives and experiences to contribute. I invite you to share your latest ideas to the Council’s platform for other to learn from.
Healthy economies nurture conditions for advancement and reward those who partake in the economic system responsibly. And the most dynamic economies are those that honor the talent and contributions of people of all races, nationalities, genders, life experiences, and orientation. This has been top of mind for me and for other leaders in the United States and Canada, who recognize February as Black History Month. Our members are working to create a system that is more just and responsive to everyone — from closing gender-based pay gaps and addressing systemic racial inequalities to providing more equitable access to finance and critical goods and services.
Practicing better business means creating value with, and for, everyone. Here is a sample of what members are committing to:
- Merck is procuring products and services from minority-; women-; veteran-; lesbian-, gay-, bisexual- and transgender- (LGBT); and disability-owned enterprises and is investing in the growth and development of its diverse suppliers.
- August Leadership is offering more opportunities for professional development and career growth and providing trainings on unconscious bias and inclusive hiring to employees and partners.
- PolicyLink is partnering with public and private sector organizations to advance strategies for workforce equity and policy planning that includes the voices of those most impacted by societal challenges.
- H&R Block is tracking the diversity of its independent board seats and company officers and has set targets for gender, racial, and ethnic diversity.
- MarketForce is promoting economic prosperity of underserved populations across Africa by facilitating stock loan access and training owners of small shops in business skills.
Find these and nearly 200 more private and public sector actions to reduce inequalities on our ideas platform.
The Council for Inclusive Capitalism team and I invite you to join us and share the actions you are taking for a more diverse, equitable, and inclusive capitalism.
Lynn Forester de Rothschild
Founder and Co-Chair
View nearly 200 company actions to reduce inequalities.
GEÇMIŞ OLSUN TÜRKIYE: GET WELL, TURKEY
In the wake of the devastating 7.8 magnitude earthquake that struck Turkey and Syria on February 6, the Council for Inclusive Capitalism’s newest Steering Committee member Pelin Akin Özalp, board member of Turkish infrastructure holding company Akfen Holding, shares how the company is responding to the needs in their community.
“This tragedy feels deeply personal,” she writes. “My family founded Akfen in Ankara-Istanbul in 1976. We are passionate about serving our country and its people. When Turkey and its people suffer, we suffer.”
“Since the earthquake, we have been in contact with relevant authorities to offer support and aid throughout the region. We are providing assistance from each of our subsidiaries as well as through our holding company, with some of our staff on the ground to help.”
For those who are interested in helping, Özalp recommends several options to aid search and rescue efforts and provide food, water, shelter and medical care. Click below to read how you can help.
|Find Out How You Can Help
This article was shared with the Council for the Inclusive Capitalism through our member insights platform. All Steward and Ally members are invited to share original blogs, case studies, and explanatory articles that dive into the “why” and “how-to” behind their business actions for inclusive capitalism.
Log in to our website and click the “Submit Your Insights” tab in your member portal to learn more and share your story. For assistance, please contact Digital Communications Manager Olivia Harris at Olivia@inclusivecapitalism.com.
Inclusive Capitalism Means Going Back to Our Roots
In a new op-ed published in the ThinkSpace blog from global investing group GIC, Council for Inclusive Capitalism founder and co-chair Lynn Forester de Rothschild dives deep into the roots of capitalism and highlights how it has reformed itself countless times in history to meet evolving needs of society. It is time for another evolution, she argues.
“The markets we know are the most powerful force in the world, and we have to make sure that they work for everyone,” said de Rothschild. “It doesn’t really matter how we label the market economy, but it does matter that the most powerful force in the world is a force for good.”
Economic inequality and elitism have eroded the earliest visions of capitalism as a system that inherently supports sustainability and equal opportunity, Rothschild says.
“Most people don’t trust that capitalism is going to work for them; rather, they think that the system is rigged against them. This matters to the investment community. We cannot have successful companies or investments in a society that is broken down or in a world where the planet is on fire.”
JOIN US FOR THE NEXT EVENT IN OUR INCLUSIVE CAPITALISM LEARNING SERIES
Members of the Council for Inclusive Capitalism are invited to join us on February 23 for a learning webinar “Business Leadership in Corporate Political Responsibility.” The private sector is increasingly being called upon to address pressing challenges facing society. And business leaders are stepping up with voluntary actions to advance sustainability and invest in people and the communities in which they operate.
In this one-hour session, business leaders and the University of Michigan Erb Institute will share resources from the Corporate Political Responsibility Taskforce and discuss how companies can begin to develop CPR best practices.
|Learn more and register
Find the Council at Upcoming Events
82023 National Investor Relations Institute (NIRI) Annual Conference
June 6-8, 2023
The Council for Inclusive Capitalism will join the NIRI Annual Conference on June 8 in Chicago to discuss systemic change.
June 26-28, 2023
The Council for Inclusive Capitalism is a community partner of this year’s GreenFin23 taking place in Boston. Stay tuned for more information, including a registration discount code for our network.
🤝STEWARD ACTION: MĀKHERS STUDIO SETS 2-YEAR GOAL FOR INCLUSIVE HIRING
Mākhers Studio is a green manufacturing and design-build firm that specializes in rapidly-deployed energy efficient modular real estate. Their customized shipping container “pod” projects provide turnkey, affordable space solutions for housing, offices, medical clinics, and other purposes.
Founder and CEO Wanona Satcher sees an opportunity for better business in how the physical spaces that form a community are designed and fabricated. Inclusive planning can activate a neighborhood. Setting up local vertically-integrated micro-manufacturing operations centers in marginalized communities creates local economic opportunity. And hiring diverse tradespeople advances equity and inclusion.
Mākhers Studio is creating opportunities for women to enter a traditionally male construction industry. By 2024, the company aims to double the number of racial minority women and refugee women hired in sub-construction roles. Their team will work with existing trades providers to grow team diversity and establish partnerships with community colleges near the company’s home office in Atlanta to cultivate a pipeline for new trade talent.
📖 ALLY RESOURCE: JEREMIAH PROGRAM’S FIVE PROGRAMMATIC PILLARS TO DISRUPT POVERTY
Ally member Jeremiah Program (JP) offers one of the United States’ most successful strategies for disrupting cycles of poverty and improving economic mobility for single mothers and their children. Led by President and CEO Chastity Lord, JP targets life change two generations at a time through education, career connection, and essential services for both mothers and children so that families can thrive. They operate programs in nine major U.S. cities, including New York City, Boston, Baltimore, and Austin. Their guiding principles and programs rest on five core pillars:
- College access and career support
- Quality early childhood education
- Safe and affordable housing
- Empowerment, leadership, and career training
- Supportive community
“Investment in high-quality educational pathways that lead into high-demand or emerging sectors is crucial to creating more viable career prospects and financial stability for single mothers,” the Program shares on their website. Greater career opportunity for single mothers leads to increased financial security for the whole family. Visit the Jeremiah Program website to learn more about their program activities, public policy advocacy, and opportunities to support the Program.
|Explore JP’s Approach
Welcome New Council Members
Founder and CEO, August Leadership
Founder, Büro Koray Duman
Founding Director, Catalyst Foundation
Executive Director, Center for Ethics and Social Responsibility (CESR)
CEO, Coleridge Initiative
Roxana Fabris López Piña
President, Construyendo a México Crecemos, IAP
Found and CEO, Crosskudi
President and CEO, Defy Ventures
Creative Director and Founder, Erê Lab
CEO, Five35 Ventures
CEO and Founder, Him for Her
Founding and Managing Partner, Inclusive Capital Partners
Co-Founder and CEO, Infraclear
COO, International Venture Philanthropy Center (IVPC)
Executive Director, JADSL ICT Unit Community Center
Co-Founder and CEO, Kopernik
Founder, LinkUS Communications
Muhammad Aslam Khan
President, Rural Development Foundation of Pakistan
Founder and CEO, Traders of Africa
Co-Founder and CEO, Tradewater
Chairman of the Board, Ukrainian Institute of Public Diplomacy
Founder and CEO, Winning Play$
Secretrary General, Women Entrepreneurs Association of Turkey (Kagider)
📰 Inclusive Capitalism in the News
Ipeca Sustainability Roundup | Meredith Sumpter: How companies can lead to make the energy transition work for people and planet
The Federal | Hillary Clinton announces $50-m fund for women to tackle climate change
MIT Sloan Management Review | ESG is going to have a rocky 2023. Sustainability will be just fine.
GreenBiz | Upcoming regulations in ESG ratings: 3 implications for business
EIN Presswire | Ozan Eren Bilgen: Base64 AI joins Council for Inclusive Capitalism
Reuters | Bernard Looney: bp to buy TravelCenters for $1.3 bln in U.S. fuel retail drive