Council for Inclusive Capitalism and WBCSD Announce New Partnership to Address the Climate Emergency, Nature Loss, and Mounting Inequality
New York, NY – The Council for Inclusive Capitalism (Council) and the World Business Council for Sustainable Development (WBCSD), the leading voice of business for sustainability, today announced a new partnership as both organizations work in parallel to address three pressing, interconnected challenges: the climate emergency, nature loss, and mounting inequality.
The two organizations will work closely together on initiatives that will activate the business community on sustainability planning, 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’ve got to do them together,” said Meredith Sumpter, CEO of the Council for Inclusive Capitalism. “Our complex challenges require collaboration and action across all industries and sectors, and the Council is delighted to partner with WBCSD to forge a more inclusive and sustainable future through the actions of our member companies.”
WBCSD President and CEO Peter Bakker added, “Only collaboration at all levels will allow us to make the progress necessary to tackle the unprecedented challenges that impact us all. Together, we will support and guide companies across the world in sharing best practices to urgently address the climate emergency, the loss of nature, and mounting inequality.” He continued: “For this to be done successfully, leaders everywhere need to change their mindsets toward building long-term resilience, toward a regenerative approach to business, and ultimately toward reinventing capitalism.”
WBCSD has called for a world in which 9+ billion people can live well, within planetary boundaries by mid-century in its Vision. This new framework for business action includes nine pathways to action across industries 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 meaningful commitments to operate their organizations in ways that create equality of opportunity, equitable outcomes, and fairness across generations as well as for those whose circumstances prevent them from full participation in the economy.
The Council has more than 150 members, and its platform includes more than 400 commitments. William Sisson, executive director, North America, WBCSD, said as part of the partnership, the Council is inviting WBCSD’s 200-plus members to document their corporations’ actions and demonstrate their leadership on the Council’s commitments platform. The organizations already have shared members in Ayala Corporation, BCG, BP, DuPont, EY, Mastercard, and Visa.
“Our members recognize that there is both a moral and business imperative to act on these issues and by working together, this will help accelerate our collective actions to find business solutions to these issues,” Sisson said.
As part of the collaborative efforts, Council founder and managing partner of Inclusive Capital Partners Lynn Forester de Rothschild has joined WBCSD’s Business Commission to Tackle Inequality (BCTI). The BCTI seeks to mobilize the global business community to put tackling inequality at the heart of business’s agenda for sustainable growth.
In addition, WBCSD has agreed to support the Council’s Just Energy Transition Workstream Framework for Action, the first-ever guide for companies on concrete actions they can take to implement an energy transition that is just 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).
About the Council for Inclusive Capitalism:
The Council for Inclusive Capitalism is a global nonprofit organization established to harness the potential of the private sector to create a more inclusive, sustainable, and trusted form of capitalism. The Council is guided by moral and ethical leaders and is led by a core group of global CEOs and public leaders who convene annually to advance the Council’s mission. Further information can be found at www.inclusivecapitalism.com.
WBCSD is a global, CEO-led organization of more than 200 leading businesses working together to accelerate the transition to a sustainable world. We help make our member companies more successful and sustainable by focusing on the maximum positive impact for shareholders, the environment, and societies.
Our member companies come from all business sectors and all major economies, representing a combined revenue of more than USD $8.5 trillion and 19 million employees. Our global network of almost 70 national business councils gives our members unparalleled reach across the globe. Since 1995, WBCSD has been uniquely positioned to work with member companies along and across value chains to deliver impactful business solutions to the most challenging sustainability issues.
Together, we are the leading voice of business for sustainability: united by our vision of a world where more than 9 billion people are all living well and within the boundaries of our planet, by 2050. For more information, go to www.wbcsd.org.
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Peter Bakker is President and CEO of the World Business Council for Sustainable Development (WBCSD) Mr Bakker has led WBCSD since 2012. WBCSD is a global, CEO-led organization of over Read More