In an environment where trust in CEOs is dropping, distrust in corporations is growing and the markets with the greatest future opportunities are in emerging economies, a group of business and civil society leaders are calling for business models to radically change and become more socially focused.
Companies across all sectors must operate fundamentally differently or risk helping create further global economic downturns and jeopardizing their businesses. They must restore trust, tackle the Sustainable Development Goals and work to put the global economy on a surer footing, according to a new report from the Business and Sustainable Development Commission released Monday.
“This has got to be about a real business revolution in partnership with governments and civil society,” said Lord Mark Malloch-Brown, the chair of the commission, a group of about 35 business, finance, civil society and labor leaders, which launched a year ago to promote the business case for the SDGs and outline how it can contribute.