Making economies more inclusive requires turning good ideas into progress.
Notes from the Council | Newsletter November 2021
The members of the Council for Inclusive Capitalism are committed to doing business in ways that respect people, our communities, and the planet. We know more needs to be done, and that’s why we are focused on growing this movement, taking action, and making progress on the commitments we make.
We work with our members to realize this vision through collective and individual action. Collectively, our workstreams, like our just energy transition initiative, bring together industry leading companies with academics, experts, policymakers, and other stakeholders to create market moving reforms. Individually, our members are taking action by publicly declaring the changes they are making on our commitments platform.
Our goal is for Council member commitments to catalyze the development of stronger economies and societies by motivating and challenging global investment and business peers toward their own inclusive and sustainable actions. We view the commitments platform as a repository for action, to which companies of any size across the globe can look to identify actions that they too can take. Our members believe that sharing progress is a crucial part of inspiring others to act, and we have published more than 450 time-based and measurable commitments on our website since our launch in December 2020.
This year, the Council, in partnership with members EY, Bank of America, Allianz, Johnson & Johnson, Merck, OECD, Mastercard, Towerbrook, and Visa, launched an initiative to establish our approach to tracking, documenting, and sharing the progress of members’ commitments. As a result, we will soon roll out updated guidance on commitments and a streamlined submission process for our members. We will also begin to publicly share progress updates on individual commitments and an annual collective progress report of Council members’ actions.
We know we’re not alone. We invite all business leaders to join us.
NEW: The Just Energy Transition Framework for Company Action
Against the backdrop of COP26, the Council launched “The Just Energy Transition: A Framework for Company Action,” the result of a monthslong initiative to help businesses ensure that the benefits of the energy transition are shared by workers, communities, and customers. The framework is a practical guide with 20 areas of action, and it is part of a larger resource hub intended to catalyze business action.
Swift action is required to address climate change and transition to a net-zero economy, yet transitioning to clean energy risks growing inequality with a loss of jobs and investment in impacted communities. With the right strategy, companies are uniquely positioned to ensure that the transition creates jobs, protects natural resources, reduces inequality, and improves the quality of life for those affected by climate change.
We invite all companies to explore these areas for action, adopt their own strategies for a just transition, and share their work with others.
New Partnership Addresses Interconnected Challenges
The Council and the World Business Council for Sustainable Development (WBCSD) have announced a new partnership as both organizations work in parallel to address three pressing, interconnected challenges through the actions of our member companies: the climate emergency, nature loss, and mounting inequality. As part of the collaborative efforts, Council founder and co-chair Lynn Forester de Rothschild has joined WBCSD’s Business Commission to Tackle Inequality, which seeks to mobilize the global business community to put tackling inequality at the heart of business’s agenda for sustainable growth.
Bloomberg Green: COP26 Special
Click to watch: Council Steering Committee members Mark Carney and Brian Moynihan spoke to Bloomberg from COP26 about what investors and businesses can do to transition to clean energy and to do it in ways that are just.
Welcome New Council Members
Jesse Milan Jr.
President and CEO, AIDS United
Chief Executive, Anglo American
Managing Partner, Aretéwork
Prof. Aditya Singh
Director, Athena School of Management
CEO, Bayer AG
Founder & CEO, Cointinuum/Bit Real Estate Exchange
Helle Bank Jorgensen
CEO & Founder, Competent Boards
Chief Executive Office, Eni S.P.A.
Founder and CEO, Epic Foundation
Asha Mehta, CFA
Managing Partner and CIO, Global Delta Capital
Okendo Lewis Gayle
Chairman, Harambe Entrepreneur Alliance
Principal and Founder, Ignite Impact Fund
Co-Founder and CEO, The Laudato sì Challenge
Founder, Mind Bank Ai
CEO and Co-Founder, MOVii
Toni G. Atkins
Senate President pro Tempore, Office of the California State Senate President pro Tempore
Founder and CEO, OurBanc Corporation
Founder, Purposeful Strategies
Mukesh D. Ambani
Chairman and Managing Director, Reliance Industries Limited
Founder and CEO, SkinX LLC
Dr. Gregor Broschinski
CEO (deputy), Sparkasse Düren
Chief Executive, SSE plc
Executive Secretary, United Nations Economic Commission for Africa (ECA)
Founder and CEO, Wall Street Bound
Director, Workforce Disclosure Initiative
President and CEO, World Business Council for Sustainable Development (WBCSD)
Inclusive Capitalism in the News
WSJ Sustainable Business Newsletter | Easing the Climate Transition for Workers
Upstream | Oil majors including BP partner with Council for Inclusive Capitalism for energy transition framework
ESI Africa | New framework will help companies deliver a just energy transition
Benzinga | OurBanc Hones Unique Approach To Bank The Underbanked: ‘Alignment’
PhilStar Global | AC Energy readies program to reach net-zero goal by 2050
Edie.net | Purpose beyond profit: 100 businesses to report on efforts to benefit society
WebWire | Council for Inclusive Capitalism and WBCSD announce new partnership
Financial Times | Mark Carney: Carney-led finance coalition has up to $130tn funding committed to hitting net zero
Fortune | Oliver Bäte and Hiro Mizuno: (Opinion) It’s time to set a global ESG standard for investors
Foreign Affairs | Darren Walker: The Stubborn Persistence of Vaccine Inequity
Fortune | Rich Lesser: Business has an outsized role to play in tackling climate change
Business Insider | Carmine Di Sibio: EY says it will be ‘carbon negative’ by the end of the year – here’s its 7-point plan for getting there
Forbes | Ron O’Hanley: Top CEOs Awarded WBC Excellence In Gender And Diversity
Business Inquirer | Eric Francia: Ayala companies team up to push Net Zero agenda
Reuters | Mark Cutifani: Anglo American aims to halve indirect greenhouse gas emissions by 2040
Arabian Business | Lynn Forester de Rothschild: Saudi minister: ‘We’re going to have to deal with carbon for decades’
Vogue Business | Brunello Cucinelli: Brunello Cucinelli calls for “dignity and morals” at G20
Chronicle of Philanthropy | Rajiv Shah: Rockefeller Foundation Commits $150 Million to Pandemic Prevention Institute
Markets Media | Marcie Frost: CalPERS CEO Pushes for Improved ESG Data
Energy Live News | Alistair Phillips-Davies: COP26: SSE calls on world leaders and public to sign their names on giant turbines
The American Mirror Spectator | Fiona Ma: Fiona Ma Shares Her Vision of Helping Middle-Income Families over a Cup of Tea