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Session Highlights:
- Crises like COVID-19 represent an opportunity for systemic change. Panelists felt strongly that the time is ripe to build partnerships between the private sector, social actors and development agencies, based on mutual trust and pooled resources to address a wider range of social issues across sectors.
- Bruno Roche shared the concept of ‘economics of mutuality’ where businesses develop reciprocal relationships with key stakeholders to maximize performance, measuring human, social and natural capital with the same emphasis as financial capital.
- Social and environmental issues provide innovation opportunities for businesses. To create sustainable solutions, the group felt that businesses must move away from purely philanthropic donations and rather invest with the full range of corporate resources into driving social impact through core business activities.
Session Description:
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The way in which companies think about social impact is shifting. Increasingly, they are looking how to integrate it in their business practices and core values. These companies know that a thriving economy and a thriving society go hand in hand. In this session, hear from leading companies in the region about different and innovative ways that go beyond the well-known inclusive business models. Hear how they mobilize capital, knowledge and core business capabilities to create social impact with business relevance. Learn from their successes and challenges and explore ways in which these models can be adapted in different contexts.
Key Takeaways:
- Understand various ways corporate social impact strategies can create both business and social value
- Understand the elements required for success and how to overcome challenges in the process
- Explore opportunities to implement relevant models in different business contexts
