We need to change the system.
The climate emergency and social inequality are profound and pressing problems, thrown into sharp relief by the COVID crisis, that can only be solved if we harness the enormous potential of entrepreneurs, innovation and enterprise.
But for the past half-century, business has become separated from the communities it needs to serve. The failure to align the interests of shareholders with those of wider society and the environment has contributed to a set of enormous challenges that threaten peoples’ health, wealth and the natural world.
The Interdependence Coalition aims to transform the way we do business, so that every company registered in the European Union must take ownership of its social and environmental impact in its governance.
Our vision is for business leaders to work together for the benefit of all people and the planet.
The best way to do this is to change the rules that govern how businesses act. It can no longer be a choice to align the long-term interests of people, planet and profit. We believe this should be a requirement. Businesses across the EU and the globe have proven this as a model for sustainable growth that drives innovation and entrepreneurship (see Case Studies and Resources).
That’s why we have responded to the European Commission’s consultation on Sustainable Corporate Governance, urging the Commission to make it mandatory for companies to take into account their impact on workers, customers, communities and the environment, not just delivering profit.
To achieve this we are bringing together a broad and growing coalition of leaders from across all sectors and nations across the European Union to help deliver this new contract between business and society.
86% of people expect CEOs to lead on societal issues.
68% expect CEOs to step in when the government does not fix societal problems.
65% believe CEOs should hold themselves accountable to the public and not just to the board of directors or shareholders (Edelman 2021).
There are many proposals underway in the EU related to this agenda, including those on non-financial reporting requirements, on investors’ duties and on due diligence in supply chains. These all need to be aligned with a new mandatory sustainable corporate governance framework for the fullest impact on our economy, society and planet.
With your support we can and we will act to make sure that every business plays its part in creating a cleaner, greener, fairer future for all.