Giving Compass' Take:
- The Aspen Institute reports on its Economic Security Summit, where the discussion centered around how companies can focus on the needs of their employees and consumers more.
- What incentives will drive change? That is one of the fundamental questions, and it's one that is worth asking as well in the nonprofit sector as public-private partnerships grow.
- Learn why Corporate Social Responsibility is a competitive advantage.
What is Giving Compass?
We connect donors to learning resources and ways to support community-led solutions. Learn more about us.
As we work to leverage the power of markets in support of the long-term health of our economy, communities, and planet, one key area of focus must be measuring what the impact actually looks and feels like. A common framework used by the investor community is “ESG” (Environmental, Social and Governance), which describes how research, data, and investment capital can influence corporate decision making in ways that help solve some of the world’s biggest problems, from climate change and environmental degradation to healthy democracies to good jobs and diversity and inclusion.
But for all of the good work being done under the ESG umbrella, the conversation around it often feels two-dimensional and a bit lifeless — an alphabet soup of metrics and data, lacking and real-world connections and narratives.
At the Aspen Economic Security Summit this summer, the conversation was grounded in the actual impact, largely because of the richness of experience and backgrounds of people in the room. There was much discussion around the role of business in society, particularly in reducing economic inequality through quality jobs and benefits that enhance the financial wellbeing of workers. With a broad range of perspectives represented, the conversation converged around two fundamental questions:
1. Why should businesses and other market players care about job quality and worker wellbeing?; and
2. What kind of incentives, research, and forcing mechanisms could drive firms to care — and act — in ways that support these outcomes?
Read the full article about putting people at the center of the economy by Alison Omens at The Aspen Institute.