The financial crisis 2008, as starkly depicted in the documentary Inside Job, revealed the devastating consequences of prioritizing deregulation and profit over societal well-being. It exposed a broken system where unchecked greed led to widespread economic collapse, harming millions. The lessons from this crisis underline the urgent need for a fundamental shift in how businesses operate and the values they uphold.
In response, we propose the establishment of the Equitable Business Roundtable (EBR). This new coalition is dedicated to advocating for practices that align with our IMPACT-FIRST framework, where customer success and meaningful value creation are at the forefront of business strategies. The EBR envisions a business landscape where growth is not a byproduct of profit but a result of companies’ positive impact on their customers and communities.
The Equitable Business Roundtable aims to be a powerful voice for change, bringing together leaders from purpose-driven companies, influential thought leaders, customer advocacy groups, social and environmental NGOs, academic scholars, policymakers, and community leaders. Together, we can champion a new paradigm in business that prioritizes equity, sustainability, and transparency, ensuring a prosperous future for all.
Vision
The Equitable Business Roundtable (EBR) is envisioned as a powerful coalition advocating for equitable business practices that prioritize impact and customer success. This roundtable aims to shift the focus from deregulation and profit maximization to sustainable, purpose-driven growth, ensuring companies create meaningful value for their customers and communities.
Composition:
Leaders from Purpose-Driven Companies: CEOs and senior executives from companies known for their commitment to social and environmental impact, such as Patagonia, Ben & Jerry’s, and Unilever.
Influential Thought Leaders: Renowned experts in sustainability, social entrepreneurship, and systems thinking, such as Paul Polman, Kate Raworth, and Amory Lovins.
Customer Advocacy Groups: Representatives from consumer protection organizations and customer advocacy groups to ensure that the customer’s voice is central.
Social and Environmental NGOs: Leaders from prominent non-profits focused on social justice, environmental sustainability, and equitable economic development, like Oxfam, Greenpeace, and the World Resources Institute.
Academic Scholars: Professors and researchers from leading universities specializing in business ethics, corporate social responsibility, and sustainable development.
Government and Policy Makers: Progressive policymakers and regulators committed to developing frameworks that encourage equitable business practices.
Community Leaders: Voices from local communities who can provide insights into the grassroots impact of business practices and ensure inclusivity.
Manifesto:
Impact-First Philosophy: Businesses should prioritize creating meaningful value for customers and communities over short-term profits. Growth should be a natural outcome of stakeholder-wide impactful practices.
Equitable Practices: We advocate for business models that promote fairness, equity, and inclusion. Every stakeholder, from employees to customers to local communities, should benefit from business activities.
Sustainable Development: Our commitment is to drive sustainable growth that respects planetary boundaries and ensures long-term environmental health.
Transparency and Accountability: Businesses must operate transparently and be held accountable for their social and environmental impact. Open reporting and stakeholder engagement are essential.
Collaboration for Change: We recognize that real change comes from collaboration. We will work across sectors and industries to share best practices, drive innovation, and create systemic change.
Policy Advocacy: We will actively engage policymakers to advocate for regulations and policies supporting equitable, impact-first business practices.
Continuous Learning: We commit to ongoing learning and adaptation, ensuring that our practices evolve to meet the needs of a changing world.
By coming together under the banner of the Equitable Business Roundtable, we aim to redefine the role of business in society, ensuring that every action taken is a step towards a more equitable, sustainable, and impactful future.
