Newsletter | Our Present Actions Will Impact Future Generations.

Our Present Actions Will Impact Future Generations.

Notes from the Council | Newsletter April 2022

Great challenges are best addressed as a community, and there is an imperative to work together to advance a more inclusive and sustainable economic system for the benefit of future generations. The Council for Inclusive Capitalism operates in a dynamic ecosystem of organizations mobilizing to build a better world. 

In recognition of Earth Day, the Council recently shared some of the innovative ways our members are taking action every day through their operations and by serving their missions. From Heathrow Airport’s strides to operate a zero carbon airport infrastructure by the mid-2030s (the airport’s infrastructure has been carbon neutral since 2019), to Gemini Corporation creating the infrastructure for the collection, sorting, and recycling of more than 50,000 tonnes of plastics by 2025, or Nestlé’s forest positive strategy to end deforestation throughout their supply chains, our members are taking bold steps we can all learn from.

In all, our members are taking nearly 200 actions to make the world more sustainable for future generations, and we’re just scratching the surface of what is needed.  You can search through these actions on our commitments platform. 

As we make commitments to act, we also measure the progress we make. The Council has been a vocal supporter of convergence around common disclosure standards for ESG aligned investments. There are several opportunities for companies to make their voice heard on these issues now on the SEC Climate proposed rule and ISSB exposure drafts on sustainability-related financial information and the climate-related disclosures. 

We’re grateful for your tireless commitment to a more inclusive capitalism. Thank you for all that you do.

Lynn Forester de Rothschild Founder and Co-Chair

View 200 actions to address climate change and support a healthy planet.Explore actions

🥇Closing the opportunity gap and creating pathways to success with Wall Street Bound

Launched in 2019, nonprofit organization Wall Street Bound has a goal is to recruit and train 10,000 underrepresented youth for careers in finance by 2030. We spoke with CEO Troy Prince about Wall Street Bound’s work.

When most people think of the forces behind capitalism, they think of for-profit businesses. How are NPOs and NGOs an important part of shaping the economic system to be more inclusive and sustainable for all?

[Nonprofits] and NGOs with missions of economic development and justice, operating within capitalist economies, are the “front line workers” and the connective tissue of opportunity creation for all stakeholders. Businesses, governments, and academic institutions are not equipped on their own to solve societal issues at scale as none have that as their foundational raison d’être.

Tell us about your Introduction to Wall Street Bootcamp Program and its impact.

The objective of this program is to expose college and university students of color to the financial services industry, the requisite technical and soft skills, and the various career paths. The program is designed to inspire students to pursue higher goals, inform those interested in finance careers of how they might go about achieving their goals, and instill confidence in students to operate and succeed outside of their comfort zones and current environments.

The primary impact of this program is exposure. By spending time with our instructors who have all worked in the industry, and networking with finance professionals that look like themselves, students come away with a better understanding of the broad financial services industry and a deeper sense of individual purpose and personal motivation.

Read the interview

📅 Upcoming events

Delivering a Just Energy Transition | May 23, Davos, Switzerland
The Council and Handshake have partnered to host an in-person event for Council members on Monday, May 23 in Davos, Switzerland during the World Economic Forum Annual Meeting featuring our Framework for a Just Energy Transition. If you would like information on this event, please reach out to Libby Goodell.

Save the Date

Members only

Investing in a Just Energy Transition | June 20, Virtual
Join Council leaders including founder Lynn Forester de Rothschild, CalPERS CEO Marcie Frost, UN Special Envoy for Climate Action and Finance Mark Carney, ITUC General Secretary Sharan Burrow, bp CEO Bernard Looney, and Anglo American chief executive Mark Cutifani for a Climate Action 100+ virtual event for companies and investors on concrete actions to advance a Just Energy Transition. Registration details will be available from CA100+ soon. Please mark your calendars.

Members only

GreenFin 22 | June 28-29, New York City
Hosted by Council Ally GreenBiz Group, GreenFin convenes an invitation-only audience of 600+ sustainability, finance and investment leaders to share insights, address the key challenges and showcase leading sustainable financial products and services. On June 29, Council founder Lynn Forester de Rothschild and Steering Committee co-chair and BCG global chairman Rich Lesser will lead a discussion around company action for a Just Energy Transition. Learn more and request an invitation.

Member in Action: ACEN advances strategy to protect and enhance biodiversity in host communities

Ayala Corporation’s ACEN is taking operational action to protect and conserve biodiversity, maintain ecosystem services, and manage living natural resources in new projects and throughout the lifecycle of their power plants.

Using rapid biodiversity assessments before all projects and relying on international standards and guidance for forest and land conservation, endangered and migratory species, and water resources and aquatic habitats they will strive for a net-positive impact in the regions and communities in which they work. By 2023 ACEN will develop an internal framework to measure their performance across all aspects and include results in their 2023 sustainability report.

These actions from Ayala and ACEN were published in response to the Council’s Framework for a Just Energy Transition, which outlines private-sector actions that merge social and environmental goals for a successful low-carbon energy future.

See ACEN’s plan of action

🌲 Ally Feature: Finance for Biodiversity calls for re-alignment of economic markets with nature

The future of the global economy and livelihoods depends on a living and thriving nature. On March 31, Council Ally Finance for Biodiversity (F4B) announced the launch of a global taskforce to establish a practical framework for developing markets that deliver nature-positive and equitable outcomes and support climate goals. It will bring together perspectives and capabilities drawn from policy, legal and governance, finance, technology, civil society and indigenous communities to engage and connect active, aligned communities.

In the accompanying white paper, “The Future of Nature Markets,” F4B co-authors describe the emerging phenomenon of new “nature markets,” and set out the case for an ambitious Taskforce agenda. Writes lead author Ralph Chami, F4B Senior Advisor, “The Taskforce is a response to the dire state of nature, its importance in addressing climate change, greater visibility of our economic and societal dependency on nature’s thriving bounty, and the need to protect and regenerate nature in ways that ensure prosperity for nature’s stewards – local and indigenous people.”

Learn more on the taskforce’s website

🤝 Welcome new Council Members

📰 Inclusive Capitalism in the News

AP News | Brian Moynihan: Bank of America mobilized and deployed $250 billion in sustainable finance capital in 2021

PoliticsHome | Alistair Phillips-Davies: Why investment in vital net zero infrastructure is the best response to rising energy prices

GreenBiz | Helle Bank Jorgensen: How do you redesign your supply chain in a chaotic world?

Sustainable Brands | What SEC ESG disclosure mandates might mean for your business

BusinessWire | Council members Deloitte, EY, CalPERS, Ford Foundation, Rockefeller Foundation, and Bank of America join group of 60 partners to launch Ownership Works nonprofit advocating for employee onwership programs

Inquirer.net | Meredith Sumpter: Inclusive capitalism goes global

Business Standard | Mukesh Ambani’s net-zero plan: Inside Reliance Industries Limited’s unique energy transition story

Deloitte | Punit Renjen: Deloitte announces $1 billion investment in global Sustainability & Climate practice

Time Magazine | Hiro Mizuno: If we want a sustainable future, financial institutions must hold each other accountable

U.S. Impact Investing Alliance | Coalition for Inclusive Capitalism: Impact transparency on climate risks is good for business, investors and the economy as a whole

International Trade Union Confederation | Sharan Burrow: Common Security 2022: Global civil society leaders set out path to peaceful progress

Brookings | Profits and the pandemic: As shareholder wealth soared, workers were left behind