More and more people recognize that we need a paradigm shift in the way we do business. From a model focused on maximising profit shareholder value to a model focused on wellbeing as the end goal, with profit as a necessary by-product. There are many levers to influence this shift and many stakeholders to consider. Regulators have traditionally focused on minimising harm and ensuring that businesses stay within the parameters of the law and public policy. But what is the role of regulators in enabling businesses to be truly purpose-led?

Coming out of working together on Lab 3 of our Purpose in Practice Community (PIPC), which considered Purpose Led Strategy, Andy Brown, Group Chief Sustainability Officer of Anglian Water, Ed Leighton, Director of Strategy & Policy at Ofcom and a team from Clarasys,  convened a group of businesses, civil society, industry experts, and regulators at the annual Anthropy event in Cornwall, where leaders gathered to explore the future of Britain. Under the leadership of Dr. Ros C. Rivaz, Chair of Anglian Water the expert panel also included Marcus Rink, Chief Inspector of the Drinking Water Inspectorate and Will Hutton, Co-chair of the The Purposeful Company. The setting: a beautiful, hot and sweaty tropical rainforest in one of the biomes of the Eden Project.

The session explored:

  • The role of regulators in driving the shift toward purpose-driven business models.
  • How regulators can respond to purpose-led businesses and whether this requires a different approach.
  • How businesses can demonstrate authentic, long-term commitment to purpose, and what that means for how they are regulated.

For a full write up see: Exploring the role of regulators in enabling purpose-led business

For a write up of the work of Purpose in Practice Lab see: Purpose in Practice Strategy Toolkit Lab 3