Business for Purpose Network (B4PN) Weekly Announcement. Update #18 — March 26, 2021

1.0 MISSION-ORIENTED CAPITALISM. Mark Carney takes a swipe at capitalism, for its own good. Mr. Carney advocates for a “mission-oriented capitalism” in which “purposeful” corporations see profit as a means to an end. Companies exist not just to make money, “but to improve our lives, expand our horizons and solve society’s problems, both large and small.” Globe and Mail. March 23, 2021 Paywall or check out Mark Carney on The Agenda with Steve Paikin on YouTube March 23, 2021 talking about his new book Value(s). He doesn’t speak directly to purpose in this interview but his perspective is worth noting and the book is worth reading. ~28 minutes.

2.0 EVENT. Volunteer Canada. Corporate Community Engagement Council (CCEC) presents: A Journey of Reconciliation in Corporate Canada. Wednesday, April 28, 2021. Register here $85 or free for CCEC and Volunteer Canada Employer Members. Learn how Deloitte Canada has progressed on their journey of reconciliation since launching the Reconciliation Action Plan under the four pillars of education, employment, inclusion and economic empowerment. A foundational part of Deloitte’s journey was the firm’s commitment to the Gord Downie & Chanie Wenjack Fund (DWF) legacy spaces. You will get the opportunity to hear from DWF about how businesses can show their commitment and take action to progress reconciliation by building awareness, education and connections between Indigenous and non-Indigenous peoples.

3.0 TOOLS. Future of Work GPS. Success = (Growth x Purpose) ^Self. This article, Forbes, March 15, 2021, focuses on the GPS multiplier: Purpose and explores the elements of me, we and world with some great stats on why Purpose matters to business.

4.0 LOOK GOOD FEEL GOOD. Best Foot Forward: Could Fashion Be the Next Big Thing in Corporate Social Purpose? Published by Sustainable Brands. March 12, 2021. “A growing breed of fashion brands has adopted social purpose to propel their business models. They are transitioning themselves and the entire industry to be a force for good in the world. And that’s fashionable.”

5.0 CANADIAN RESEARCH. Coro Strandberg recently shared a list of her research that would be helpful for those interested in helping advance beyond CSR towards corporate purpose. Coro’s work is deeply appreciated, do you have Canadian research you would like to share?

· The Future of Business in Society

· The Sustainable and Just Association: The Role Associations Can Play to Help Their Members Accelerate a Just and Sustainable Future

· Sustainable Association Case Studies

· Best CSR Practices in Canada: Six Case Studies

· Next Generation CSR Guidebook

· CSR in Canada: Trends, Barriers and Opportunities

· CSR in Canadian Post-Secondary Institutions: The Current and Ideal State of CSR in Teaching, Research and Partnering

BONUS. Fact of the day from B4PN Advisor Emeritus, Tim Draimin. “The pandemic might have tanked the global economy last year, but you wouldn’t know it from looking at the extraordinary wealth gains notched by the billionaire leaders of the world’s top technology companies. According to data analysed by Americans for Tax Fairness and the Institute for Policy Studies, two liberal-leaning think-tanks in Washington, Elon Musk, Jeff Bezos and Mark Zuckerberg expanded their wealth 559 per cent, 58 per cent and 86 per cent respectively. The full study is available here.”

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. We’d also love your comments on anything you read here or to promote any relevant articles you would like to share with others.