Firms can no longer sit on the side-lines of challenging societal issues. The incoming Gen Z, Millennials, and committed activists expect companies to serve a Social Purpose and they have the ability and willingness to punish companies that do not comply.
This growing global Social Purpose movement implores firms to go beyond ESG excellence – which is now a necessary condition of being in business – and in addition, consider lending their considerable innovation and ingenuity to helping solve pressing societal challenges.
The Social Purpose Exchange is a news and insight forum illuminating Corporate Social Purpose – the emerging frontier for Sustainability. Follow our latest insights via YouTube, Podcast and our Foresight newsletter.
CEO’s and Boards have an opportunity to enhance their future competitiveness when they INVEST in Social Purpose: People increasingly want to be associated with brands that stand for something or are a force for change. This means that an organization’s duty to society will become at least as important as its duty to shareholders. Relying solely on shareholder pre-eminence may inadvertently create brand risk by ignoring the societal context.
The opportunity is this: defining and owning your Social Purpose is the most critical competitive advantage of our time. Reframing your business around its social value is the challenge most worthy of your leadership. Those who don’t embrace this opportunity will face serious risks in the increasing competition for TRUST, TALENT, RELEVANCE and long-term survival. Failing to LEAP is your biggest risk.
Old model “Corporate Social Responsibility” and the new world of Social Purpose is like buying a ticket to a play versus acting in it.
Social purpose companies take actionable overt steps to be part of the long-term solution/fix – by partnering and applying business insights to complex societal issues. As corporations consider Social Purpose, tackling the root cause of a problem rather than simply funding its symptoms – brings optimal societal benefit (and capital efficiency).
To help organizations consider ‘acting’ in a Social Purpose role – with a view to making meaningful and transparent progress on a societal ill. Goodman Sustainability will be the global thought leader for Social Purpose: what is it and how to measure it.
By 2030, all major global organizations declare their social purpose metrics alongside shareholder value creation.
Our expertise in managing corporate societal challenges — as well as complex not-for-profit policy challenges — has had wide-reaching impact. Our guiding principles help define this impact.
Goodman Sustainability Group is the anchor partner in an emerging “Global Social Purpose Council” – bringing together international partners who are thought leaders on Social Purpose principles, metrics, research, operations and adjudication.
We enable organizational and board governance discussions regarding the management of societal risk.
Practical templates for understanding how your organization can think about risk and the imperative for this dual agenda consideration.
Court a willingness to collaborate with authenticity without undermining an organizational value creation agenda — setting the tone from the top down.
Encouraging organizations to embed societal purpose into their entire corporate structure and board governance model.
One issue, one line of site to advocate with government (relatively easy to resolve).
Multiple stakeholders who don’t agree. High need to manage a consensus approach along with cohesive new metrics (complex to resolve but possible).
One complex issue with a non-consensus future state, non-consensus solution, metric, or agreement about who the legitimate stakeholders are (no clear resolution example, although meaningful progress is possible).
We help organizations ensure their mission, vision, and governance model all have a clear line of site to both the shareholder and societal pre-eminence lens.
Faith Goodman has a history of building authentic and collaborative formal alliances with First Nations and Metis communities in Manitoba, Canada. As Founder of Until The Last Child, her innovation work is profiled at untilthelastchild.com
Canada is a world-leading climate policy jurisdiction. Each Canadian province has taken a “boutique policy approach” for energy and climate policy matters – in addition to that of the federal government. This jurisdictional complexity remains a challenge for organizations. Our well positioned expertise to navigate discussions on low carbon fuels and LFE emissions remains current.
Social Impact Bonds – an emerging field globally. This innovation allows for public/private partnerships to tackle costly and complex social policy issues by leveraging new sources of funding. Faith Goodman has been a pioneer in partnering with stakeholders on Canada’s first Social Impact Bond for child welfare.
We have over a decade of experience with Solomon and Associates’ Complexity-Weighted Barrel benchmark model, currently used throughout Europe, California, Alberta, Ontario and the Canadian Federal Government. This model allows energy-intensive trade-exposed entities to credibly understand and measure progress against a global facility population of similar type.
We speak to groups and present at conferences.
We provide training – developing stakeholder relations strategy and building strong alliances. We understand the levers necessary to find common ground with diverse stakeholders.
Goodman Sustainability Group has proven expertise in tailoring the client organizational need with specific and relevant consulting support
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Toronto, ON, Canada