https://www.bsr.org/en/our-insights/blog-view/the-business-role-in-creat...
AUTHOR
Aron is recognized globally as a preeminent authority on sustainable business. In addition to leading BSR, which has grown substantially throughout his tenure as President and CEO, Aron advises senior executives at BSR’s more than 250 member companies and other global businesses on the full spectrum of social and environmental issues.
This paper describes the need for a social contract fit for the 21st century, the business case for contributing to its development, and a vision for a new social contract with principles to guide business action.
With these principles, BSR aims to catalyze business action through policies and practices that support social mobility and protection, collaboration between business and other stakeholders, and business participation in policy dialogues required to modernize the social safety net.
While the need for a new social contract is relevant worldwide, and many of the underlying factors necessitating change are global in scope, different regions and different countries have distinct social contracts.
The case studies and data points in this paper are primarily focused on the United States and other mature economies of the global north, but the aim of the five principles is to set out a call to action that is applicable globally.
This paper is intended to support business leaders across multiple functions, such as sustainability, government affairs, procurement, investor relations, and human resources, in their efforts to shape resilient business strategies which enable people, communities, and the natural environment to thrive.
BSR has been working since 2018 to advance the notion that today’s social contracts are unfit for purpose in the 21st century. Our initial thinking was presented in a discussion paper published at the 2019 BSR Conference. We then solicited input from BSR member companies and other experts on the ideas shared in the discussion paper.
The dialogue which followed serves as the basis for this paper, with refined principles and specific opportunities for companies to take action.
The arrival of COVID-19 and the renewed focus on racial justice in the United States and globally have only highlighted the urgency and relevance of this effort and strengthened our resolve to take it forward.
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