What is inclusive capitalism?
We consider that Inclusive Capitalism is fundamentally about creating long-term value for all stakeholders – businesses, investors, employees, customers, governments and communities – guided by an approach that provides:
for all people to pursue prosperity and quality of life, irrespective of criteria such as socio-economic background, gender, ethnicity, religion or age
so that one generation does not overburden the planet or realize near-term benefits that incur long-term costs, at the cost of future generations
in society
whose circumstances prevent them from full economic participation in the economy
Why is this needed?
56%
believe capitalism, as it exists today, does more harm than good
82%
say the current system is not working for them
48%
feel the system is failing them
Why Now?
-2
net ethical score even though business is ranked as the most competent institution. Ethical drivers are 3X more important to company trust than competence
54%
see business as unfair and only serving the interest of a few
73%
agree a company can take actions that both increase profits & improve conditions in communities where it operates
Why Us?
58%
have trust in business – it takes the lead in global governance
74%
agree CEOs should take the lead on change rather than wait for government
92%
of employees say CEOs should speak out on current issues
Aspirations for Systemic Change
Council members make actionable commitments aligned with the World Economic Forum International Business Council’s Pillars for sustainable value creation—People, Planet, Principles of Governance, and Prosperity—and that advance the United Nations Sustainable Development Goals.
People
- Dignity & Equality
- Health & Well Being
- Skills for the Future
Planet
- Climate Change
- Nature Loss
- Fresh Water Availability
- Air Pollution
- Water Pollution
- Resource Availability
Principles of Governance
- Governing Purpose
- Quality of Governing Body
- Stakeholder Engagement
- Ethical Behavior
- Risk & Opportunity Oversight
Prosperity
- Wealth Creation & Employment
- Innovation in Better Products & Services
- Community & Social Vitality
Perspectives on the issue
“What is required now…are concrete ideas and decisive actions that will benefit all people and that will begin to respond to the pressing issues of our day.”
His Holiness Pope Francis
“We have accepted the challenge from Pope Francis to create concrete actions which will move us to a more-inclusive capitalism.”
Lady Lynn Forester de Rothschild
“We are committed to improving the lives of our customers and stakeholders through responsible business practices.”
Roger Ferguson CEO TIAA
