Giving Compass' Take:
- · Diane Osgood explains the importance of shopping and voting throughout this time in order to create a more just economic system.
- · What role can you play in addressing inequality in the economy?
- · Learn more about investing in economic justice.
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Right now, talking about shopping can seem trite.
Yet, to address systemic racism, we need a more just economy. An economy slanted towards white ownership plus discriminatory labor practices perpetuate systemic racism.
As discussed in earlier columns, consumer demand drives 70 percent of the economy. Consumers and citizens have significant influence over the shape of the economy because we — in aggregate — ultimately control almost 70 percent of it.
If we want a more just economic system, we have two levers, voting and shopping:
- Vote for local, state and national leaders and policies that support minority-owned businesses and require fair and safe labor standards.
- Shop at minority-owned businesses and buy products from companies with a verified track record of fair and safe labor standards, just hiring practices and diverse leadership.
Today we have a unique opportunity to reimagine and reshape the 70 percent of the economy that is consumer-driven. By doing so, we can shift the economy towards justice and environmental sustainability.
As sustainability professionals, we need to ensure our companies do more than take a stand against racism and unfair labor practices. We need to help our companies operationalize true equality and fair labor practices throughout all its activities from board and executive representation down to supply-chain partners. Then we can guide consumers and help drive the changes our economy needs.
Read the full article about justice and sustainability by Diane Osgood at GreenBiz.