Global S&T Development Trend Analysis Platform of Resources and Environment
Making stakeholder capitalism real and rewarding | |
admin | |
2020-08-27 | |
发布年 | 2020 |
语种 | 英语 |
国家 | 国际 |
领域 | 资源环境 |
正文(英文) |
Published: 27 Aug 2020
Type: Insight
The end of August traditionally signifies a return to the office and all hands on deck for the remaining months of the year. This year, as we adjust to our “new normal” and its endless amount of video calls, it is nevertheless important to sharpen our focus on what will be a critically important final quarter of 2020. This will be a crucial time in our collective fight against the global pandemic – which still rages on in much of the world. These next months will also determine how we give meaning to “building forward better” in a post-COVID-19 world. The global pandemic has unmasked our interdependencies, highlighted the stress we place on the environment and in many places greatly increased inequality. As a result, the global landscape is rapidly shifting. Business’ approaches to resilience, purpose, society and the environment are being called into question. The disconnect in the financial system between the financial return and the environmental and social impacts calls for a reinvention of capitalism. Since last year’s Business Roundtable statement, a lot of the conversations have been focusing on the shift from shareholder to stakeholder capitalism. But stakeholder capitalism is not yet real for business. We have no shared definition, the expectations of business are not clear, there is no roadmap on how to implement it, and much of the financial system architecture is still focused on (short-term) financial returns. That being said, there are signs of progress in the stakeholder capitalism debate:
WBCSD is taking a leading role in making the building forward for a better capitalism real and rewarding for business in three ways:
The collaboration between WBCSD and PRI is adding a fundamental piece to the puzzle that will complement the move towards a globally harmonized system for ESG disclosure: how to change the engagement between business and investors in a way that will integrate sustainability in financial and strategic decision making. We will bring leading business and investors together to clarify what sustainability information is needed in the investor-corporate relationship, how businesses and investors can align incentives, decision-making and valuation around sustainability; and lastly explore the institutional changes needed to integrate sustainability into the financial system. We remain focused on creating a capital market that will recognize that more sustainable business will attract a lower cost of capital and generate more financial capital to lead the transformations towards a better world. |
URL | 查看原文 |
来源平台 | World Business Council for Sustainable Development |
文献类型 | 新闻 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/291644 |
专题 | 资源环境科学 |
推荐引用方式 GB/T 7714 | admin. Making stakeholder capitalism real and rewarding. 2020. |
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