WHY CHANGE. WHY C-CHANGE
With inequality and sea levels on the rise, and the world often literally being on fire, change is needed to build a sustainable future for ourselves and future generations. Recognising the need for change, world leaders signed off on a 2030 Sustainability Agenda at the United Nations in 2015. The charter was signed off by leaders from all sectors.
The private sector has a critical and transformative role to play in achieving the ambitious 2030 sustainability agenda. Not only is the private sector needed to gather the $5-7 trillion that is needed each year to achieve the Agenda, consumers, investors, and other stakeholders increasingly demand more sustainable practices from the sector. The good news: A growing number of companies have moved beyond profit as a single measure for business success. The bad news: Markets and (most) businesses today are simply not ‘fit for purpose’. The time to envision and deliver on a new corporate narrative is now."
Each year, businesses spend at least $80Bn on impact. While communication teams work hard to showcase their firms’ impact contributions and meet reporting requirements, what this money is spent on and ‘what works’ is often unclear, even inside company walls. This lack of insight inhibits the emergence of a true corporate force for good.
Similarly, despite sustainable, impact or 'SDG investing' being on the increase - and promising initiatives by asset holders of all kinds, a true mainstreaming of these trends has not yet taken place.
For firms and investors to up their ‘impact game’ is not easy. For one simple reason: Organizations today are not wired to deliver on profit and purpose: Impact activities are often not embedded in companies’ core business, the incentive systems to do so are often not aligned, and information systems to track activities and get the most out of every dollar spent on impact are missing. In addition, the multitude of platforms and initiatives that an average company is asked to contribute to is ever growing – requiring considerable resources.
This is why we started C-Change.