Responsible Asset Owners Global Symposium

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Diversity, SDGs, Google, Salons & Goods

1. Diversity uncertainty

This June, while many of us were enjoying summer holidays, the US Supreme Court was busy ending race-conscious admissions practices at American universities. The landmark ruling meant that higher education institutions in the US can no longer legally consider race during the admissions process – a practice that prior to the ruling worked to increase diversity in student populations.

While a significant blow for student diversity in America, there’s no direct legal reason this should affect companies’ hiring practices. But of course, it’s never that simple.

Experts are concerned that the ruling will inspire related lawsuits against corporate hiring and workforce management practices and that the risk of these lawsuits will be enough to discourage corporations from establishing ambitious diversity, equity and inclusion (DE&I) policies. In fact, conservative legal groups have already taken aim against employers like Target and Nordstrom, challenging their DE&I efforts as discriminatory.   

This prospective pull back from DE&I efforts is particularly troubling, as it will only serve to compound the effects of the admissions ruling on workforce diversity. If fewer Black and other minoritized students enter – and therefore graduate – from top universities, businesses will already be drawing from a less diverse talent pool. It is more important than ever that hiring, and employee development processes, are designed to give support and encourage those who may otherwise be disadvantaged by virtue of their background.

Ultimately, businesses that row back on DE&I initiatives are only managing one risk at the expense of another. Studies have consistently shown that a more diverse workforce is a better performing workforce – by cutting out DE&I initiatives, companies are harming their own chances of business success.

In advance of the Supreme Court ruling, 60 companies including Apple and Starbucks released a statement reiterating their support for DE&I processes. We’ll be looking to these businesses, but also to all those who have made commitments to DE&I in the past, to see if they are as good as their word in this new legal landscape.

2. Global Goals Week

As we head into the Sustainable Development Global Goals Week, an annual week designed to ‘demand urgency’ and ‘supercharge solutions’, we’re reminded of how different in scale and substance calls to action around the SDGs can be.

On the one hand, we received an email from the UN Global Compact reminding us of the upcoming 2023 SDG Flag Campaign. The idea is for businesses and organisations to buy an SDG flag, and wave it. Quite apart from the fact that this seems to take an idea which is best in its figurative form and make it literal – it also seems a long way away from driving any meaningful form of agency, search for solutions, or accountability for change.

On the other hand, the Bill & Melinda Gates Foundation just released its 2023 report, preceding their Goalkeepers event next week in New York which Giles will be attending. This is data centric, steered by solutions, and doesn’t have a flag in site.

It explores the current maternal and neonatal health landscape, and global progress toward their corresponding SDGs. Narrating the evolution of progress since the 2000s, when healthcare boomed and neonatal and maternal deaths steadily declined, it shows how this trend has come to a halt, with the decline of neonatal deaths slowing, and in the case of maternal deaths, stalling. Yet the report also shows how this trend coincides with healthcare innovations and revolutionary information which, if made available in lower income countries, could save two million lives by 2030, and sets out its own contribution to making that happen.

It’s a pragmatic but hopeful read and shows that (with the help of policy change, political will, and investment), existing innovations can paint a very different picture, putting tangible progress on the SDGs back into reach.

3. Happy Birthday Google

Internet giant Google was founded 25 years ago this month with a clear purpose: to organize the world’s information and make it universally accessible and useful. To mark its 25th Birthday, CEO Sundar Pichai has published a blog post which sets out his reflections on the last quarter century and explores the journey Google – and technology more broadly – has been on along the way.

In the fast-paced world of tech, Google stands as a beacon of innovation and influence. Its revolutionary tools solved problems we didn’t even know we had. From putting a universe of knowledge at the world’s fingertips with its first simple search engine, to revolutionising navigation with Google Maps, transcending language barriers with Google Translate, and pioneering the development of AI, Google has made the world more accessible and connected. Its impact on society cannot be understated. Sundar Pichai celebrates the way Google has continued to respond to the changing needs of society over the last 25 years, and attributes its successes to a focus on its mission.

But a company with as wide a remit and scope of influence as Google is bound to have stumbled along the way. While the blog celebrates the achievements, and sets out some of the challenges of the future (posing questions such as ‘Will AI be helpful to people and benefit society, or could it lead to harm in any way?’) there is little reflection on these missteps, or acknowledgment of the ways in which it may not have always delivered on its mission to improve people’s lives for the better. Being a purpose-driven company means more than just basking in the glory of success; it means owning up to and learning from your mistakes. And as the blog is published in the same week that the US Justice Department opens its anti-trust trial, which alleges that Google maintained its monopoly on search through illegal means, this absence is particularly pointed.

So, as we wish Google a happy 25th birthday and marvel at all it has achieved in the last 25 years, we also hope it doubles down on its reflexive thinking - making the most of the way a purpose provides a company with a frame against which to do this.

4. Cutting emissions and hair

Wednesday marked Marie Claire UK’s third annual Sustainability Awards, a celebration of brands, products and businesses that are committed to implementing sustainable practices and driving real change. The award categories covered a range of industries including fashion, beauty, technology and food and drink. Entries were judged by a team of over 50 sustainability experts, including our very own Giles, CEO, of Good Business!

In light of recent greenwashing issues, the Sustainability Awards play an important role in championing brands that are genuine and innovative in their offer of sustainable products and services, and willingness to be held to account. For consumers interested in sustainability, the awards provide a useful and engaging tool to identify products and brands with strong environmental and social credentials.

On a more personal note, we are very excited to share the news that our good friends over at Net Zero Now were awarded the Tech prize for their Net Zero Salons Programme (you’ll also be pleased to hear this category was not judged by Giles!). The programme, developed in collaboration with L'Oréal, is an industry-first, providing salons with the tools and resources needed to track and manage their greenhouse gas emissions and create a climate action plan. The impact of this sector cannot be underestimated with 31,200 hair salons in the UK, and each appointment contributing on average 3.1kg of greenhouse gas emissions. If all salons across the UK adopted the programme, the combined reduction in energy use could be the equivalent energy consumption of 60,000 households. The programme also provides an exciting opportunity for salons to engage their consumers and bring people closer to the sustainability agenda.

To find out more about the Net Zero Salons Programme and Net Zero Now, please click here.

The Goods: A good(s) start to the school year

Following on from our previous story about the Marie Claire Sustainability awards, this week on the Goods we wanted to mention a few other brands, to inspire our readers to make some sustainable switches.

If you are in the middle of (or slightly behind on) the back-to-school rush, check out Coffeenotes, the sustainable stationary brand. Over 95% of its paper comes from recycled coffee cups in the UK (the other 5% comes from FSC European mill waste). Although we should be striving for the use of reusable coffee cups, it is good to know that all those single use cups serve a purpose.

As the back to work commute resumes, you may be looking at low carbon alternatives, such as bikes and scooters. We love our fellow B Corp Micro Scooters UK - A Proud B Corp Member, that craft high quality scooters made to last generations, and that can easily be revamped to suit every child's taste.

In the market for a little bit of change at home? Have a look at Mater, a trusted Danish furniture brand that uses post-consumer/post-industrial waste such as kegs or fishnets and transforms them into furniture; or Lick ’s sustainable paint and wallpaper brand. And we can speak from personal experience on that one – it’s great! 

The list goes on. If you are looking to reduce your impact in a simple way, switching to one of these brands is a good starter for ten. And check out the full list of awards winners for inspiration. With the festive season just three months away, it’s never too early to start planning to fill the stockings with products from brands that are trying to be and do better.

Giles Gibbons

Good Business - Sustainability | Strategy | Impact

In this week's Friday 5... ⚖ The business response to the US Supreme Court ruling against race-conscious admissions 🎯 The United Nations Sustainable Development #Globalgoalsweek 🎂 Google's 25th Birthday and its influence on #technology and #innovationNet Zero Now's Marie Claire Sustainability Award winning Net Zero Salon Programme 👍 Brands enabling sustainable consumer switches - Coffeenotes, Micro Scooters UK - A Proud B Corp Member, Lick and more!