Social Impact

This November paid sick leave propositions were on the ballot in 3 states. It passed in all 3 states. 57% of voters approved it in Alaska, 58% in Missouri, and 74% in Nebraska. @theSkimm

GenZ is unbossing. Data shows that GenZ is avoiding management positions like 17th Century Brits tried to avoid the plague.  @incmagazine

New Mexico elected a women majority Legislature. Women will comprise 54% of the New Mexico Legislature. “In 2018, Nevada became the first state to elect a female legislative majority, later expanding it to more than 60% of seats with majorities in the state Assembly and Senate.” @goodgoodgoodco

ABC8 | Women win majority of seats in New Mexico Legislature in showcase of determination and joy

A new poll conducted after the US elections found that 2/3 of U.S. adults ( 75% Democrats & 62% Republicans) say it’s important for companies to continue their sustainability efforts regardless of political changes or election outcomes.

3BL Media | New Poll Shows Americans Want Companies To Stay Course on Sustainability; 3BL Network Effect: Charlotte Set for Dec. 11

Bill Gates advice on work life balance is to take a break when you need one. In turn, take it easy on the people around you. “It took far too long for me to realize that you don’t have to fill every second of your schedule to be successful.” @Fortunemag

How do you handle political division in the workplace? Here’s a clear  3 step plan from experts. Start by (1) asking for input, collaborating and inspiring others ; (2) effective listening; and (3) jujutsu persuasion which combines effective listening with responses rooted in values. What not to do: pressure, create groups, or strong arm. @MITSloan

  @MITSloan says sustainability is a competitive advantage. As a kid in Sweden I remember many a sign in IKEA stores about sustainability from recycling to renewable resources. IKEA says it is moving toward a circular business, aiming to use only recycled or renewable materials by 2030 and eliminating all plastic packaging by 2028. They’ll do this by (1) making it easy for consumers to be sustainable; (2) tackling hard to recycle items head on like their active work to recycle mattresses; & (3) actively participate in the second hand market.

Swedish fashion brand @filippa_k has added QR codes to their clothing to trace the origins of their fabrics and production. @sweden.se

 A survey of nearly 200 directors and 30 CEOs of S&P 500 companies tells us  that trust is the most critical factor for a solid CEO-board relationship. It is not what everyone thinks it is: the alignment of goals, performance measures, and board processes. @harvard_business_review

471 studies in 36 countries that include 149,000 humans show that aggressive bosses harm work product. Aggression, incivility, breed resentment. @AdamMGrant

Referencing LinkedIn, @the_happy_broadcast talks about the rise in employers offering pawternity leave for when an employee has a new pet, sick pet, or mourning a pet. Employers understand the mental health benefits of pets.

 The Department of Labor has released its AI best practices for employers. The DOL’s guide, “Artificial Intelligence and Worker Well-being: Principles and Best Practices for Developers and Employers” was developed with input from public listening sessions and from workers, unions, researchers, academics, employers and developers. A best practice is that workers, especially from underserved communities, should understand and have input in the design, development, testing, training, use and oversight of the AI systems used in their workplaces.

Virginia Mercury | Department of Labor releases AI best practices for employers

Is the solution for nature related financial risks, more engaged financial industry? Cop16, the UN’s biodiversity group opens its meeting in Columbia this week. Not only are our economies greatly dependent on nature and natural resources, but we also have governments that can create financial costs to nature. Solutions that are being discussed include: (1) that financial firms must manage and disclose their nature-related financial risks, alongside their climate risks; and (2) financial institutions must begin to engage actively with clients to explore opportunities to support their transition towards more nature-positive activities and reflect this within their transition plans.

The Conversation | How finance can be part of the solution to the world’s biodiversity crisis

The big dogs in the construction industry are joining forces. They have created a new CEO Advisory Council that will “guide an industry-wide effort to develop solutions targeting the high rate of suicide among construction workers.”

There’s a connection between the perceived culture of a workplace and the likelihood that employees will quit. for instance are some of the hardcore return to work policies that force employees into the office all the time just a passive aggressive way to get employees to quit?

Eric Johnson, CIO at PagerDuty, puts it this way, ““Many people just want to understand that the work they’re doing is meaningful to the company’s success, to understand what their role is, what are they being held accountable to, and what success looks like for them. Those are some foundational things.”

HRDive | Despite improved workplace culture, tech workers still eye the door

By 2029, 1 in 10 global boards will use AI guidance to challenge material executive decisions according to Gartner.

Corporate social responsibility has moved from obligation to a strategy thanks to today’s interconnected world. People want to know how your company is contributing to society. Think about the news this week with the consumer push for Kellog’s to remove chemical additives that are not used in the company’s cereals in foreign countries but are used in U.S. cereal. Information moves fast. In today’s world, shareholders are informed of a company’s positive contribution to society. This proactive approach fuels corporate growth, fosters innovation, and strengthens brand loyalty. 

Forbes | Corporate Social Responsibility: A Strategic Imperative For Modern Businesses

“A Gartner survey released in early 2024 found that 49% of supply chain organizations had formal DEI goals in 2023, a more than 50% increase over the companies that did so in the 2022 survey.” “A six-year study by the consulting firm McKinsey confirms the strong business case for gender, ethnic, and cultural diversity in corporate leadership. Put simply, diverse companies outperform less diverse peers says Dan Pellathy, an associate professor of practice at the University of Tennessee, Knoxville.

Supply Chain Management Review | DEI remains a force in business success

What are the 3 biggest threats to employee mental wellness? Work stress bests inflation and AI. Good old fashioned work stress is knackering employees, according to 47% in a recent Wellhub report. Works stress is followed by insufficient sleep at 44% . Wellhub reports that 88% of employees say wellbeing support is as important to them as their salary.  83% of employees would consider leaving their current employer due to a lack of focus on wellbeing.

Once | Rising Work Stress Surpasses Inflation and AI Anxiety as the Leading Threat to Employee 

Hello there new word: malvertising which @MITSloan tells us is malicious advertising that can contain malware from hackers. Avoid sponsored links, y’all.

For the first time in 6 years, the number of companies accused of greenwashing has fallen. It is down 12% year over year from June 2023 to June 2024. The way companies communicate may be a cause of the decline, and led to the term greenhushing. Move over greenwashing, make room for greenhushing.

ESG Dive | Greenwashing cases fall for first time in 6 years, but high-severity filings surge: report

Uber is utilizing partnerships to achieve sustainability goals. Specifically, Uber wants to be a net-zero brand by 2040. An example is its incentive program for drivers to purchase EVs, that includes a partnership with Octopus Energy and BYD that will co-fund a charging bundle for 1,000 Uber drivers. Uber has also announced partnerships with autonomous vehicle companies, Waymo in the US and Wave in the UK.

Marketing Week | Uber invests in brand partnerships to drive sustainability goals

ESG Dive | Uber rolls out climate-focused features, updates to drive sustainability progress

@MITSloan tells us that a data connector bridges the gap between data teams and business departments.

 Let’s say that you have a women’s health technology company and you’re looking for funding. Do you think it helps or hurts to have a woman on your team when talking to investors? It hurts.  Your funding prospects drop by an average of 23%. Yep, you are more likely to get better funding with a group of males promoting your women’s health tech according to research from @guardian. @the_female_lead

There’s a train of thought that corporate philanthropy is moving from solely being philanthropic to making an impact. Is it time to say bye-bye,bye to checkbook philanthropy? Information moves fast. As noted by Sue Bingham, founder and principal of HPWP Group, “CSR initiatives don’t have to be large and headline-making… your approach to social responsibility might be smaller.” The emphasis is now on creating sustainable practices that can yield tangible results over time, rather than relying solely on monetary contributions to external causes.


Forbes | The New Age Of Corporate Social Responsibility: Beyond Checkbook Philanthropy

New Jersey Legislature passed S2310 (2024 | NJ) requiring pay transparency. As we’ve talked about when people find out what their colleagues make compared to them, they often look for another job where they are paid more. As they say, sunshine is a disinfectant.

 A study released this week found that the pay gap for Latina women grew by $1.3 million over their career. This amounts to Latinas being paid 58 cents for every $1 a white male is paid. Latina Equal Pay Day was Thursday, Oct. 3,  and coincidentally also the day the study was released by the National Women’s Law Center.

The University of Houston and Harris County have partnered to “to develop a comprehensive baseline of energy use and energy-use intensity for county’s assets.” With the goal of ” reducing energy consumption, maximizing savings, and increasing the use of renewable and resilient energy sources in county-owned buildings and operations.”

The Univeristy of Houston | UNIVERSITY OF HOUSTON PARTNERS WITH HARRIS COUNTY TO CREATE A SUSTAINABLE ENERGY FUTURE

AdWeek walks us through a series of events that they say caused companies to pump the brakes on DEI, at least publicly. The events: (1) The US Supreme Court ruling curbing affirmative action in higher education; (2) A letter from 13 state Attorneys General to major corporations that was taken as a warning that corporations are next up for the DEI legal battle; (3) the “volcanic” reaction to BudLight’s ad with Dylan Mulvaney. AdWeek notes that 7 major brands pulled back from DEI, but most have not.

Adweek | The Real Reasons Why so Many Brands Have Broken Their DEI Promises

A Harvard Business Review study of 137 leader-report pairs navigating Covid restrictions found that women leaders are less emotional. How so? Women were less likely to “let their emotions impact their leadership negatively.” Women leaders “prioritized compassionate, family-supportive actions.” @thefemalequotient

Piala, a company in Japan gives its nonsmoking employees 6 extra vacation days for time they worked and were not on a smoking break. The CEO says he doesn’t believe in punitive ways of discouraging smoking and instead focuses on positive incentives.

The pet project of the Speaker of the California House is the Committee on Happiness. The committee produced a 50 page report on improving happiness in California. It states “Happiness is seen as a byproduct of the work we do to build housing, improve education, and boost wages, among other things. … But is that all that leads to happiness?” It is also proposed that the legislature discuss legislation in terms of the bill’s potential to improve happiness.

CalMatters | California is pushing happiness — but people are worried

 A coalition of 50 green banks has been talking about forming a coalition for a year (or more). This week the coalition became official. For the Texans, this includes the Texas Clean Energy Fund.  The coalition’s goals: creating jobs, boosting local economies, addressing climate change and making clean energy accessible to all Americans.

Playing gladiator at work and pitting teams against each other is not a great idea. When employers pit teams against each other, it turns out the data shows innovation declines. Why does innovation decline? because the teams are less likely to collaborate and share ideas. Collaborations is fundamental to innovation. Competition “…reduced the total information exchange among teams by 42%, meaning a decrease in overall innovation for the organization. “

WSJ | Companies Like to Pit Internal Teams Against Each Other. Bad Idea.

 @harvard_business_review suggests trying out the Eisenhower Matrix to prioritize tasks. The Matrix Y axis is High Importance to Low Importance. The X axis is Low Urgency to High Urgency. Plot your task points. The goal here is to overcome overwork.

There’s an advocacy group for sustainable investing, meet US SIF. The group says that in the U.S. there is a burden to include short term and long term financial impacts hen talking about sustainable investing. Whereas, globally there is an innate understanding of the need for sustainability. They also say that support for sustainable investing is strong in the US. On the other hand, the political posturing against it is loud, generally all bark and no bite,  and is in direct opposition to free market principles. 

Ap | Sustainable investing advocate says ‘anti-woke’ backlash in US won’t stop the movement

How do we connect ESG and communications strategies? Companies have realized that talking about their ESG credentials has helped their brand reputation. That’s a win. As a caveat, companies cannot overstate their ESG credentials because accusations of greenwashing can be swift.  So how do you talk about  ESG without the backlash? You take ” a comprehensive approach that combines transparency, stakeholder engagement, proactive communication and a robust crisis management process “  

Forbes | ESG Is Here For Good: What That Means For PR And Communications

The first place I heard about employers with onsite therapists was the fictional world of HBO’s Billions. Now the WSJ is talking about employers hiring onsite therapists. Fiction becomes reality. @WSJ

A Dutch nursing home has been offering free student housing in exchange for 30 hours per month hanging out with nursing home residents. It’s a hit. We’ve talked about the many benefits of intergenerational relationships such as better decision making.  This partnership brings a built in support network for students and the nursing home residents. They say “I love you” is a common refrain among the groups.  @goodnews_movement

 Investing in women entrepreneurs has the following benefits that differ from men: women founded businesses are more likely to intentionally have positive social impacts; women businesses have greater benefits for families, communities, and societies;  and women businesses focus on slow and steady growth. More in this podcast from the Harvard Center for International Development.

 The Harvard Law School Forum on Corporate Governance post on the politicization of social responsibility gives you loads to ponder. It says that their research “reveal[s] a clear and significant relationship between state-level politics and institutional investors’ voting behavior. Specifically, institutional support for SRI proposals is 4.1 percentage points lower for firms headquartered in Republican-led states, representing a 13% decline relative to the average support level across the sample. Moreover, the association between state-level politics and SRI voting has become more pronounced recently. “

A public school in San Francisco has partnered with Amazon, Goodr, and the YMCA of Greater San Francisco to open a free grocery store for students’ families. @goodgoodgoodco

Economists at Texas A&M write that Milton Friedman’s view that maximizing profit is the sole goal of business is outdated. In lieu of this, “companies and nonprofits can prosper when they embody what we’re calling a social profit orientation by making sustainable, social and environmental impact central to their missions.” Social profit orientation holds that “financial profits and benefits for the common good are equally prized. ” Social profit orientation also helps “companies and nonprofits future-proof themselves against evolving market dynamics and social changes.”

Texas A&M Today | ‘Social Profit Orientation’ Can Help Companies And Nonprofits Alike Do More Good In The World

The Conversation | ‘Social profit orientation’ can help companies and nonprofits alike do more good in the world

Christopher Marquis, Sinyi Professor of Management at the University of Cambridge, tells us that by letting corporations off easy by placing the sustainability onus on consumers, like with consumers being the center of most recycling campaigns, we are creating a situation where avoiding corporate responsibility creates larger rewards. “In the 1950s, plastic producers and the packaging industry coined the term “litterbug” as part of their efforts to overturn state laws that mandated the use of returnable glass bottles.”

The Hill | How an abstract economics concept lets corporations off the hook

The glass cliff refers to women who are appointed to lead companies through a crisis with the thought that the women will plunge to their career deaths like ancient vikings during an Ättestupa. Some say the glass cliff should also refer to people of color who are appointed to lead a company through a crisis. @nytimes

All over my feed, and probably yours too, this week was this statistic: 76% of high performing women receive negative feedback compared to 2% of men. Is this the new women are bossy and men are confident malarky? @fortune

Have you ever wondered about the words around equal pay? Like when talking about how women are often paid at lower rates “for work they are already doing.” Uh… already doing the work…people. This translates to the GDP and consumer spending would rise if women were paid on par with men. Food for thought… @thewiesuite

Prince William’s Earthshot Prize CEO Hannah Jones, who was once Nike’s Chief Sustainability Officer, says that a new sustainability movement will emerge from the profound impact the ESG movement has had on the economy in the U.S. and globally. She explains the economic cycle concerning sustainability began with the first Earth Day and continues. My takeaway- even if we stop talking about ESG, its legacy continues. 

Fast Company | After the ESG backlash, what will the next wave of business sustainability developments bring?

As Sun Tzu says, approximately, know yourself as well as you know your enemies. Whichever side you may or may not be on here- The U.S. House Financial Services Committee’s Republican ESG Working Group issued its final staff report Wednesday. Big messaging point from the report says ESG is “an environment ripe for abuse.”

The USC Annenberg Inclusion Study found that the number of women leading roles in entertainment declined to 30% in 2023. That’s a drop of 14% from 2022. “Only 11% of 2023’s top 100 movies were gender-balanced, meaning women/girls in about half of all speaking roles, also a number even with 2007.”

Deadline | Women In Leading Film Roles Declined In 2023, USC Annenberg Inclusion Study Finds

A new study from Harvard Business School found that having women managers improves productivity in businesses with mixed genders. “We’ve said it before, and it’s worth repeating: putting women in management positions is good for morale, productivity, retention—and business.” @femalequotient

  Esports, you know that supremely fast growing sector, through its Global Esports Federation has launched the Global Social Impact Initiative to harness the power of gaming and esports for social good. What type pf good? supporting the United Nations Sustainable Development Goals (SDGs) through education, green technology, and employment practices.

Trendhunter | Esports CSR Initiatives

 Unspun, a weaving technology company, raised $32M in Oversubscribed Series B Funding for its 3D weaving. It is 4 times faster and offers a 53% emissions reduction, 49% reduced energy demand and a 39% reduced blue water consumption.

ESG Dive | Weaving tech company scores $32M to decarbonize fashion supply chains

The International Olympic Committee and 2024 Olympic host France agreed to 10 commitments from participants in five different thematic areas: education and employment; health and nutrition; equality and inclusion; finance and impact measurement; and sustainability and legacy. The agreement includes financial commitments to support the SDGs, with public development banks and other member institutions of the Sustainable Finance through Sport coalition, committing to invest $10 billion in “community-based, inclusive and sustainable” sports infrastructure by the end of the decade.

Microsoft committed to DEI. Jeff Jones, a Microsoft spokesperson, said, “Our focus on diversity and inclusion is unwavering and we are holding firm on our expectations, prioritizing accountability, and continuing to focus on this work.”  It’s like the opposite of Tractor Supply approach to DEI.

ESG Dive | Amid DEI cuts, Microsoft works to distinguish itself from those responding to ‘woke’ backlash

“More than 130 companies from across industries called on world leaders to step up action to prevent biodiversity loss as countries prepare to convene in October for the United Nation’s Biodiversity Conference, or COP16.”

ESG Dive | Unilever, Nestlé join over 130 companies in call to reverse biodiversity loss ahead of COP16

Mercedes Benz and Starbucks have partnered to support EV charging. Mercedes- Benz will “expand its DC Fast EV charging network at 100 stores across Starbucks’ retail portfolio in America.”

“The collaboration between two leading brands like Mercedes-Benz and Starbucks will uplift the charging experience for all EV drivers. Together, we seek to infuse delight into this facet of EV ownership through intentional experiences that make drivers genuinely excited to plug in. We envision a future where charging your vehicle is as easy as enjoying your favorite Starbucks.”
Andrew Cornelia, President and CEO of Mercedes-Benz High-Power Charging

What type of actions can derail a company’s DEI goals? In short, humans. In longer form: biases in hiring and performance evaluations. You know the line- “I have a hard time understanding women.” or “I have a hard time with accents” or “I just can’t see XYZ in that role.”

Human Capital Center | Traditional Bias Training Doesn’t Work— Bias Interrupters Do

H&M has created a green financing tool to support sustainable supply chain. The retailer is collaborating with Southeast Asia’s largest bank, DBS. The program is “a first-of-its-kind green loan programme that facilitates supply chain decarbonisation in the apparel sector.”

H&M Group | H&M Group drives the agenda on collaborative financing solutions for impactful climate action

This summer Tractor Supply abandoned its DEI, sustainability, and support for pride. The company had spent years supporting diversity and sustainability. Now the impact of changing its mind is being closely watched. As one analyst said, “Abrupt change is difficult and destabilizing, and unless plans were communicated clearly, consistently, and coherently to internal audiences, the firm might see a drop in motivation and engagement, increased absenteeism and turnover, and a loss of talent. That’s not only bad for Tractor Supply as a company, it is awful for those employees who might be disheartened by the move and abysmal for customers who observe and suffer because of the fallout.”

ESG Dive | Tractor Supply retreats on DEI, climate after ‘anti-woke’ backlash. Now the real fallout begins.

The UK has enacted legislation that criminalizes taking or detaining a cat or dog. The crime is punishable by a fine or up to five years in prison. What happens to people in your state that abduct pets? @globalpositivenews

 50 years ago Sweden was the 1st country to introduce paid paternity leave. Now the country is at the forefront of providing parental leave for grandparents. Under the new groundbreaking law, grandparents providing child care can get paid for up to three months of a child’s first year. A two-parent household can transfer 45 days of paid leave to others, while a single parent can transfer 90 days.  @goodgoodgoodco

Meet Moveinday mafia, a nonprofit that helps  HBCU students from foster care backgrounds in settling into college by providing dorm room makeovers. The nonprofit also sends the students monthly care packages. @blackenterprise

Meet carewashing. It is when employers offer ” low-effort initiatives in lieu of truly healthy, motivating company cultures.” 21% of employees believe employers care about their wellbeing that’s more than a 25% drop since 2020. Why the drop? too many unsustainable “work hard, play hard”  employer cultures.

How to avoid carewashing? Align your commitments and capabilities; talk to your employees, listen and follow through; and hire self aware leaders who aren’t psychopaths and that create a safe and healthy workplace with strong ethical practices. @harvard_business_review

Cities are changing downtown codes to make it easier for small artisanal manufacturers, often those with social impact purpose, to find spaces downtown. Cities like NYC, Nashville, Indianapolis, and Montgomery County, Md. are opening vacant storefronts and buildings to artisanal manufacturers.  Research shows that for every 1 percent increase in the entrepreneurship rate, the poverty rate decreases by 2 percent.

Governing | Empty Storefronts? Let Entrepreneurs Make Things There.

Utah is building a 305 foot Statue of Responsibility to serve as a means of spreading positivity. “The shape of the building itself is meant to represent people helping each other.” No taxpayer money will be spent on construction.

2KUTV | Statue of Responsibility proposed in Utah faces mixed reactions

San Francisco has created a Youth Commission and the White House has created the Office of Young American to gain insight from GenZ. Check out YouthinGov, a coalition of more than 80 organizations, that is fighting for youth representation. Issues important to GenZ include the economy, mental health, health care, and gun violence. The goal of these programs is build trust and active discourse with GenZ. 

Governing | Create a Seat at the Policymaking Table for Young Americans

Lake Research Partners found that more than half of voters (56%) oppose anti-woke legislation, while less than a third (30%) support it. Opposition crossed partisan lines – Democrats 58% oppose, 38% strongly oppose; Independents 63% oppose, 46% strongly oppose; Republicans 52% oppose, 34% strongly oppose.

Harvard Law School Governance Forum | National Public Opinion Survey Finds Voters Skeptical About Congressional “Anti-ESG” Policies

The recent release of Keurig Dr Pepper’s 2023 Corporate Responsibility Report highlights that corporate responsibility has become the company’s purpose. In the CEOs words: “[We] elevated Drink Well. Do Good., our longstanding corporate responsibility approach, to be KDP’s company purpose. Our purpose plays a critical role in guiding how we go about delivering positive impact for our stakeholders through our strategic framework and business priorities,” said Tim Cofer, Chief Executive Officer.

 A new survey from the Executive Leadership Council concludes what we all know- Top Down support is paramount. CEOs who are committed to diversity, equity, and inclusion have better results. 75% of companies that responded say their commitment to DEI is strong.

Stanford Social Innovation Review posits that sustainability is out and regeneration is in. Why? Sustainability focuses on doing no harm by minimizing negative outcomes. Whereas regeneration goal is to make the process better by finding ways to also replenish the planet’s natural resources.

KPMG has launched “AI Impact Initiative” to bring AI to nonprofits. The program has 2 initial goals: (1) Empowering non-profits to maximize the benefits they deliver by harnessing the power of AI; and (2) Equipping the workforce of the future with critical AI and generative AI (GenAI) skills and capabilities.

IKEA estimates that each employee who leaves costs the company $5000. So, it started paying employees more, offering flexible schedules, and let me blow your mind. Wait for it… fewer employees are leaving IKEA. It’s kinda a shocking, right? A common sense solution produced happier employees and a productive and efficient corporate environment. @bloombergbusiness

Whirlpool’s Feel Good program has donated 900 refurbished, like new, refrigerators to food banks and nonprofits to facilitate the distribution of perishable foods. It has also donated 50,000 pounds of food to partner agencies, helping more than 25,000 families.

Feel Good along with its partners,  @hellofresh and Total Quality Logistics (TQL), have a goal of distribution 3000 refrigerators by 2030. The program is expanding to include Atlanta, Chicago, Dallas, Detroit, Houston, Los Angeles, Minneapolis, Orlando, Phoenix, and West Michigan. @goodgoodgoodco

 Adam Grant, the Wharton School Organizational Psychologist,  says to get the highest level of productivity and to retain employees permit remote work 2 days a week. There’s  no cost to performance nor promotion rates. @AdamMGrant

In your reporting, are you including the “social return on investment” (SROI)? Your SROI more comprehensively measures the overall impact of investments. SROI  improves program management through better planning and evaluation, increases your business’ understanding of its effect on the community thereby facilitating better communication regarding the value of your work. 

Maybe SROI is the new  “it” factor. There’s a great interview by Tyler Twellman, of the Real Salt Lake Coach Pablo Mastroeni about the unquantifiable it factor of certain players. He explains that when players have that certain something it  elevates a team beyond their data- goals, wins, etc.  Every business needs to define and characterize their IT Factor, the je ne sais quoi, the SROI.

Let’s check in on how Sony Music is defining its purpose in its 2024 Social Justice Fund report. The fund continues to “support initiatives that lead to creating an inclusive world where all individuals are respected and valued for their unique contributions.”

Sony Music’s purpose statement is:
“In today’s world, where diversity is more crucial than ever, our Purpose remains steadfast: to fill the world with emotion, through the power of creativity and technology.”

This week Citi announced that it would match the parental leave policies of Morgan Stanley and Barclays. That increases birth mother leave to 24 weeks, 16 weeks of paid leave to all new parents, and two weeks paid leave to care for other family members. Crafting a parental leave message to employees? Here’s how Citi worded theirs.

Harvard Law School Forum on Corporate Governance tells us that board gender diversity improves investment outcomes by increasing board monitoring, board advisory effectiveness, and board risk aversion as well as two-way communication regarding investment proposals between the board and managers and the board and the investment community. They examined 83 policies in 59 countries. They also discuss the limited number of women and gender tokenism.

Harvard Law School Forum on Corporate Governance | Board Gender Diversity and Investment Efficiency: Global Evidence from 83 Country-Level Interventions

after nearly 4 years of negotiations, the EU adopted a Value Chain Law which  will require large companies to identify, mitigate, prevent, and remedy harmful human rights and environmental impacts in their operations and their value chains; that is, the company’s business partners involved in production, distribution, transport, and storage of the company’s products. A lengthy list of large companies and business groups support the requirement.

HRW | EU Adopts Groundbreaking Business Value Chain Law

You’re the new leader for a business. The business needs a change of culture to improve success in the current business climate. What makes an effective culture change? (1) Keep the business folk engaged, it’s not just data. (2) Resist the urge to change how people work- the where and when of it all (3) Know that culture change isn’t measured in data or an ROI.  @MITSloanManagementReview

Engineering Innovation Group reports that their data shows employees who have control, some control, over where and when they work, are more productive and more engaged. @techcrunch

A 2024 Morgan Stanley survey of 300 U.S. corporations revealed that 53% say sustainability is primarily a value creation for their long term corporate strategy. 32% say sustainability is both a way to create value and manage risk. 15% say it is primarily a risk management long term strategy.

Morgan Stanley | Companies See Sustainability as Integral to Long Term Value Creation

Last week we talked about the beauty company, E.L.F. partnership with Billie Jean King to “serve facts on diversity.” this week E.L.F. is out to point out all the “Dicks” on corporate boards. Bonjour “So Many Dicks”

Anyone else notice the wording of the NFL’s comment on the now-infamous commencemnt speech by Harrison Butker? DEI was front and center: “The N.F.L. is steadfast in our commitment to inclusion, which only makes our league stronger.” 

NYTimes | N.F.L. Player Draws Rebukes (and Trolling) for Graduation Speech

Katz School of Business at the University of Pittsburgh research says that return to the office policies are a means for “managers [to] use RTO (return to office mandates) for power grabbing and blaming employees for poor performance.” This research paper shows the policies harm employee performance and do not improve a business’ performance. @techcrunch

 @theweisuite says data shows that 98% of companies which added  women board members saw revenue increases.

We’ve all heard of burn out, but what about misalignment burnout? This form of burnout occurs when an employee’s purpose does not align with a company’s purpose. Burnout impacts 71% of GenZ and 65% of millennials. @forbes

Rotherham replaced 8 miles of right of way grass with wildflowers. Switching the greenery in transportation corridors saved the city more than $25,000 in mowing expenses. Wildflower meadows saving businesses, governments, and the environment. @happygardens

 The NFL is donating the materials used for its draft to a local animal shelter. Detroit “said there was an entire sustainability plan between the NFL and the city to reduce waste and repurpose materials from the event.” Kudos for the creative thinking.  @goodgoodgood

E.L.F., the beauty company, has partnered with Billie Jean King to highlight the few women in business leadership positions. All leadership positions, if we’re frank. Partnering with a groundbreaking and rule shattering sports icon to deliver facts creates a beautiful partnership using data to show that diversity is good for business. Serving Facts with Billie Jean King

New wellness benefit rolling through business policies is offering pet bereavement leave. @thewildest

Rural communities are letting it be known that they will not exist for much longer unless they can work out how to have affordable child care. South Dakota Governor’s Office of Economic Development is awarding grants to fund child care in rural communities.

Route Fifty | ‘We can’t exist without child care’: Rural towns use state funding to open local centers

Get your employee buy-in and build from there. “According to University of Missouri Professor Jung Ha-Brookshire, if companies want to shift toward sustainability, employees need to be aware of employers’ social initiatives and act as ambassadors to inform consumers of these CSR activities.”

 I admit my surprise to learn that conscientious consumerism, ethical consumers, aren’t new to the U.S.  Instead, they date back to colonial times when people wouldn’t buy goods or products from slave owners. Conscientious consumerism grew in the 20th century when consumers took into consideration environmental concerns and worker treatment. 

CMS Wire | Using Social Initiatives to Build Trusted Customer Relationships

(1) Deepen consumer trust and loyalty by fostering long-term relationships with your consumers. (2) Enhance market competition by aligning your brand with your consumers. This is especially important for conscientious consumers. (3) Be authentic.

CMS Wire | Using Social Initiatives to Build Trusted Customer Relationships

Republicans in Oklahoma are talking about rolling back their anti- ESG law which blacklisted financial firms for their restrictions on lending to oil, gas and coal companies. The reason: the increased costs for local governments to borrow funds. The Oklahoma Rural Association produced a study this week that says the added costs from the anti- ESG law are unavoidable for rural communities.

Insurance Journal | Republicans Weigh Rolling Back Anti-ESG Law They Passed

Morningstar utilized AI to review ESG posts from finance-related subreddits. What did they learn? That investors don’t use the term ESG. They talk in terms of climate change, sustainability. Investors like the strategy of ESG, but don’t use the terminology. Keep this in your hip pocket.

etftrends | How ESG Is Discussed Matters

Have you seen this trend in a cafe near you? You order a coffee and order a coffee for someone in the future who can’t afford a hot drink, or meal, in the future. The free meals/drinks hang on a board that allows people in need to easily claim them. @thedanishway

TThe WNBA has partnered with a daily birth control pill available without a prescription in the U.S. – Opill. The league has announced that they will be concentrating on social justice efforts in two areas: civic engagement and reproductive health advocacy. That’s a partnership leading by example.  @thefemaleathleteproject