Time to reset capitalism
The global health pandemic, economic crisis, and racial justice uprisings have revealed a deeper, more fundamental problem: An economic system that rewards maximizing wealth over wellbeing and prioritizing individualism over interdependence. To build a future where all people are able to work with dignity and care for themselves and their loved ones, where our planet is healthy and our economy thrives, we must reimagine and redesign our economic system so that it works for all of us today and for the long-term.
Imperative 21 is a business-led, network of coalitions driving economic system change. These represent 72,000+ businesses across 80 countries and 150 industries, 18+ million employees, USD$6.6+ trillion in revenues and USD$15+ trillion in assets under management. They are united by a vision and shared mission to equip leaders to lead consistent with 21st century leadership principles; to shift the cultural narrative about the role of business and finance in society; and to realign incentives in a supportive policy environment.
Together, and with others, they will support business and finance leaders, culture shifters, and policymakers who are ready to meet this moment with bold and meaningful action.
Their network is fluid, allowing coalitions to form and dissolve around different work, and allies to lean in and lean out based upon their capacities and interests. One such coalition is harnessing the power of culture to demand an economic system that delivers shared wellbeing on a healthy planet, another is transforming finance to manage systemic risk and a third is stewarding a global process to co-create a set of 'Imperatives for Economic System Change' that give our community of allies greater coherence and power.
They envision a future where our society, our leaders and our policies work together to create shared prosperity:
A culture that values our connection to each other, our communities and the planet. As a result the most celebrated and rewarded businesses and investors strive to serve all stakeholders all the time.
An economy where business leaders and investors create long-term value for all stakeholders based on credible common standards, structures and norms that align the interests of business, people and society.
Public policies that reward greater positive stakeholder impact, and create an elevated level playing field in which all businesses and financial institutions are responsible for their impact not only on financial returns, but also for all stakeholders and the natural and social systems on which healthy markets and all life depends.
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From Imperative21, 07/10/2020