We believe business can be a force for good. And although it is still a mainstream belief that profit generation is the sole purpose of a business and “doing good” is still about one-way giving or corporate volunteering, things are starting to change. Technological advancements, more pressure from consumers, and an increasingly crowded marketplace, mean that businesses are under growing pressure to reinvent themselves and identify new engines of growth. The rise of B-corps and new policies, like ESG requirements mean that businesses, big and small, are beginning to co-create value with their employees, customers, suppliers or other key stakeholders based on shared interests and values.
- How to make “doing good” a core part of a sustainable business strategy, instead of an additional agenda?
- How can we support companies to better understand and address the S of ESG, rather than only focussing on sustainability and governance issues? How can business see itself as part of society?
- What motivates companies to embrace Business for Good – internal or external factors?
- What more can philanthropy do to influence companies to change? Where (if anywhere) has philanthropy been gaining good traction in the business for good space? Where is there collaboration around this topic (if at all)?
We have been working on this topic since 2014, when we hosted a global discussion via TelePresence on the topic of Corporate Social Innovation. Whilst the terminology has shifted from CSR, to CSI, to Purposeful Business or Business for Good, and now ESG, our motivation has always been the same – how can we support corporations to innovate for social good and put social purpose alongside profit.
As an organisation that straddles and connects sectors, SIX is in a unique position to facilitate this work. We’ve hosted several cross sector, global dialogues on the topic, we’ve brought philanthropy and the private sector together as part of our funders node programme, and we’ve worked closely with one of the biggest conglomerates in Turkey over several years. Through these activities, and our partnerships with B4G communities in Europe, Canada, and East Asia, we’ve tracked the changing trends over the last decade.
More recently, our work in this space has focussed in East Asia, working with a large funder to help them understand where philanthropy can influence the Business for Good movement and with a consulting team in Hong Kong, bringing best practice global examples to inspire HK companies to embrace this topic.
Philanthropy can advance business for good around climate ambitions and beyond
A new way of thinking about corporate purpose and climate risks Businesses have an important role to play in transitioning our planet to a sustainable and green future, but the idea that businesses should care about the climate, even from a materiality perspective, let alone a moral or existential one, is still relatively new. The ... Philanthropy can advance business for good around climate ambitions and beyond
From social innovation to business for good – a global dialogue
We are living in turbulent times. Poverty, inequality, youth unemployment and climate change are among the challenges we are facing. Business for good is becoming the new norm in this new era. Over 2019/2020, a global consulting team came together to produce a new piece of research: Business for Good: Understanding the Motivations for Business to ... From social innovation to business for good – a global dialogue
Report: Motivations for Business to Create Shared Value in Hong Kong
The coronavirus outbreak has triggered the biggest global economic, health care and social crisis in centuries. This is a time for all sectors to reflect on their approaches and develop new ways of doing things. And it includes the private sector. In the post-pandemic world, the new business landscape is complex and uncertain. Amongst technological ... Report: Motivations for Business to Create Shared Value in Hong Kong
Breaking Through – How Corporate Social Innovation Creates Business Opportunity
Corporate social innovation is an approach where corporate strategies and operating practices enhance the competitiveness of a company while simultaneously promoting economic and social well-being in the communities in which it operates. Simply put, it is about fuelling breakthrough changes in how businesses operate so that they can achieve social and environmental value creation alongside ... Breaking Through – How Corporate Social Innovation Creates Business Opportunity