Business for Purpose Network (B4PN) Weekly Announcement.
Update #23 — April 30, 2021
1.0 VIDEO. Innovation That Makes an Impact: 4 Key Takeaways on Balancing Profit with Purpose. Brendan Jones, Senior VP Marketing, Nadaq and Invesco QQQ hosted a panel discussion exploring how some Nasdaq-100 companies are balancing profit with purpose to make an impact on the world. Check out their article and hour-long video featuring Global Head of Social Impact at Zoom (who knew?); Global Head of ETFs & Indexed Strategy at Invesco; and VP of Brand Strategy and Product Marketing at Walgreens.
Key takeaways: Companies are zeroing in on purpose and impact; The pandemic has accelerated impactful innovation; Technology’s critical role; and Diversity is at the forefront of driving real innovation
2.0 RESEARCH. In their latest report (April 2021) entitled: Breakthrough: Seven Unlocks to Scaling Health and Sustainable Living, GlobeScan shows that “a gap remains between what people say that they want to do to live more sustainably and what they are actually doing.”
Results of the study make it clear that “climate change remains a top concern for most, with 60 per cent of people globally saying it is a very serious issue … but only one-quarter claim they have made major changes to be more environmentally friendly in the past year.” What is holding us back? As agents of change it is our job to help make it easier to do the right thing, in this study GlobeScan indicates these 7 “unblocks”:
Make it … affordable; credible; shine; “yes and…”; easy; meaningful; and big!
Thanks to Coro Strandberg, B4PN Founding Member, for recommending this article
3.0 UPCOMING EVENT. As part of The Shared Value Initiative, FSG’s Mark Kramer will host Nestlé CEO Mark Schneider for a fireside chat entitled Leading for a Sustainable Future. Date: Tuesday June 22, 10 am EST. Register here for this free webinar and many others including past recording of relevant SVI sessions.
They will discuss Nestlé’s journey moving from climate pledge to activation and impact as outlined in the company’s recently released Net Zero Roadmap. Mr. Schneider will share his perspective on the business imperative — and competitive advantage — of addressing climate change and the leadership that it takes to drive change at scale. Shared value and sustainability practitioners will gain fresh insights and guidance around how to navigate unexpected roadblocks and drive progress and innovation to create a sustainable future
Thanks to Cathy Glover for recommending this article
4.0 UPCOMING EVENT. Trust Barometer Special Report: The World After COVID. May 20, 2021. 10 EST. Register here also for free.
It is clear the COVID 19 pandemic has tested all institutions in unprecedented ways to do what’s right. In January, the 2021 Trust Barometer showed that business has a new mandate to lead in addressing societal challenges, while also reimagining the post-pandemic workplace and the social contract between employer and employee. In this event panelists seek to help define a post-pandemic agenda for our organizations and a renewed role for business to make a positive impact on society.
Thanks to Coro Strandberg for also recommending we highlight this webinar
5.0 CASE STUDY. Purpose at Work: Lessons From VSP Global On How To Lead With Purpose. Forbes. April 26, 2021. Simon Mainwaring of Forbes writes on how to drive growth for purpose-driven brands.
Many lessons here from how to define your purpose, even if you are a legacy brand, VSP Global is 65 years old. They conclude with the following lessons; “when you are defining your purpose statement, every word matters.” “… go into (the journey) without having a sacred cow” and “leaders need to walk the talk”.
Quote of the week: “We believe that sustainability is at the heart of good business”. He also went on to say that it can give you a competitive advantage over time with brands that are seen to be more purposeful delivering growth that is two times faster than the rest of the portfolio. It is what consumers want and you generate more growth, more brand preference, and more growth — that’s the business opportunity.
– Marc Engel, Chief Supply Chain Officer, Unilever at the Bloomberg Green Summit April 26, 2021
Enjoy the reading and enjoy the week-end … on purpose!
Allyson
What is the Business for Purpose Network? The B4PN is an initiative catalyzed by the JW McConnell Family Foundation and the MaRS Discovery District to help build a movement engaging companies to put purpose at the core of their work.
Past editions of the B4PN Weekly Announcements are available on LinkedIn and on Medium.
Interested in joining this movement? Please contact Allyson Hewitt, VP Impact at MaRS at ahewitt@marsdd.com to indicate your interest in this work, to join the mailing list or to unsubscribe. We’d also love your comments on anything you read here or to promote any relevant articles you would like to share with others.
