‘There is strong evidence that the current level of inequality is unsustainable from a political, social and economic perspective. We have changed the inclusive growth narrative, but now action must follow.’
Gabriela Ramos, OECD Chief of Staff and Sherpa to the G20, speaking to the OECD Global Parliamentary Network, London, 5 April 2018
Governments cannot act alone if we are to achieve the aims of the Sustainable Development Goals (Global Goals) and support inclusive growth, businesses must play their part. As employers, investors and product or service providers it is critical for companies to recognise their role in meeting the needs of marginalised groups, reducing inequalities and shaping policy and regulation. In fact, it is in their interests to do so, because a more equal economy will benefit them. A recent report has estimated that achieving the Global Goals would open up more than $12 trillion in business savings and revenue and create 380 million new jobs by 2030. This would deliver financial returns, better-educated employees, and higher consumer purchasing power.
Looking forward how can businesses change their practices to achieve inclusive social outcomes? And what does the purpose-led business of the 21st century look like?
Business leaders associated with Blueprint, including Sir Mike Rake, Chair of Advisory Council; Sue Garrard, Blueprint Trustee and Executive Vice President, Sustainable Business & Communications, Unilever; and Sacha Romanovitch, Chief Executive, Grant Thornton joined the conversation with the OECD and representatives from 70 parliaments. Here we share their perspectives and experiences on what it means to be purpose-led and how businesses can support growth that delivers for society.