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Article

23 Sep 2021

Author:
World Economic Forum, Laudes Foundation and BSR (Business for Social Responsibility)

Laudes Foundation, BSR & WEF Report calls for meaningful stakeholders engagement and shows lighthouse business actions on social justice

'Lighthouse Action on Social Justice Through Stakeholder Inclusion', 21 September 2021

The call for greater corporate responsibility for people and planet is not new. In recent years, the COVID-19 pandemic and a host of other converging factors have catalysed an emerging momentum in companies to recognize and consider what they owe in their ecosystems, value chains and communities – and to whom they owe it. Addressing social justice issues through greater inclusion of often marginalized and ignored stakeholders has been widely discussed as essential in “building back better” by businesses and government...

[...] The insight report presents nine lighthouse examples illustrating three areas in which business is partnering with communities and civil society to accelerate action on equity and social justice:

  1. In making new, bold investments targeting impacted communities in value chains and ecosystems:
    – The Resilience Fund for Women in Global Value Chains (UN Foundation, BSR, Women Win/Win-Win Strategies, Gap Foundation, PVH Foundation, H&M Foundation, the VF Foundation and the Ralph Lauren Corporate Foundation)
    – In Solidarity programme (Mastercard)
    – Replenish Africa Initiative (The Coca-Cola Foundation)
  2. In influencing public policy and speaking out as corporate citizens:
    – Open for Business Coalition (39 major corporations)
    – Racial Equality and Justice Task Force (Salesforce)
  3. In applying rigorous accountability practices and sharing power with workers in their supply chains and in the communities they affect:
    – Unilever’s living-wage commitment (Unilever)
    – Farmer Income Lab (Mars, AB InBev, Danone, Oxfam, IDH, Livelihoods Fund for Family Farming, UNDP)
    – Patagonia’s implementation of Regenerative Organic Certification in its apparel supply chain (Patagonia)
    – Amul Supplier Cooperative Ownership (Amul)

[...] Businesses, especially large national and multinational corporations, have a tremendous amount of influence and power in the policy realm. These factors can also be used to champion the perspectives of workers, communities and civil society... Supply chains represent a major opportunity for businesses to engage with workers, communities and civil society to further social equity aims... Businesses must also engage with labour unions and other groups representing workers’ rights to ensure they are learning about and taking into account the lived experiences of those directly affected by the decisions they are making within their supply chain. To this end, it is of the utmost importance that businesses support unions and workers’ rights – as well as operate within political environments that allow and support unions and civil society organizations to operate fully and independently, and take action to support advocacy efforts in regions where these organizations are restricted...