Social Impact

What’s happening? 2000 CEOs have signed on to CEO Action for Diversity and Inclusion™ to advance racial equity through public policy.

Why is this important? CEOs are actively looking to public policy on race, diversity and inclusion. We should not be surprised when companies and CEOs speak up on these issues.

How will this be important? This is the new normal.

What’s happening? Wayfair has dedicated$30 million to social impact investing. This includes $20 million investment in the Black Economic Development Fund

Why is this important? The company has a clear stance on racism. From the CEO”…part of our broader commitment to stand against racism in every form and to continuously work to foster diversity, equity and inclusion both at Wayfair and in our communities,” noted Niraj Shah, CEO, co-founder and co-chairman, Wayfair.

How will this be important? This is the new normal.

Home Accents Today | Wayfair gives $30 million to social impact investing

What’s happening? Vermont because the first state to consider the disproportionate impact of COVD on Black and minority communities. For COVID, Black and minority residents are more than TWICE as likely to end up in the hospital. To make up for it, Vermont is giving vaccine priority to minority Vermontians.

Why is this important? More governmental entities are considering how their actions disproportionately impacting certain, mostly Black and minority communities, and are taking action to correct for this.

How will this be important? More local governments will be doing this once there are examples to follow.

Route Fifty | Vermont Is 1st State to Give Minority Residents Vaccine Priority

What’s happening? Black CEOs are speaking out against voting reforms in Georgia. Merck CEO Kenneth Frazier and former American Express CEO Kenneth Chenault, released a joint letter in The New York Times urging corporate America to stand up forcefully on matters of racial justice.

Why is this important? First comes Georgia, then Texas, and then the rest of the red states.

How will this be important? This issue is not going anywhere. Get Z, Millennials and Gen Xers vote with their dollars and support companies that take stands on the big issues.

AP | Under pressure, some Ga. corporate leaders slam voting bill

What’s happening? Delta Airlines and Coca-Cola CEO s spoke up and the companies issued statements. IN particular, Coca-Cola said that Georgia’s voting bill is ” a step backward.” “It does not promote principles we have stood for in Georgia around broad access to voting, around voter convenience, about ensuring election integrity. This legislation is wrong and needs to be remedied.”

Why is this important? Coca Cola has paused its PAC activity, and had done so before Georgia passed the voting bill.

How will this be important? This week it came to Texas and its coming to other states as well. Corporations can’t only be your political allied when you agree. That’s not how relationships work. Nor is it how our system of government works.

AP | Under pressure, some Ga. corporate leaders slam voting bill

What’s happening? Vaccine education by employers is entering the arena of part of the way a company can improve its social impact. The reason is employees trust information from their employers more than they trust information from their governments.

How is this important? We’re seeing that employers that were the most empathetic during the pandemic are reaping the greatest rewards.

Why will this be important? Businesses are incentivizing employees to get vaccinated. Dollar General, Instacart, and Publix, have offered paid leave time or cash incentive bonuses to encourage their employees to get vaccinated.

Fast Company | 3 ways employers can help fight vaccine skepticism

What’s happening? Lancome launched  “Caring Together for a Happier Tomorrow,” that focuses on 3 elements that reflect its business model.

Why is this important? Lancome is tying its impact directly to the work it does. By focusing on (1)protecting biodiversity (2) helping people to consume sustainably (3) empowering women

How will this be important? Companies are matching their social impact more directly to the work they do which increases the authenticity of the impact.

Happi | Lancôme Launches Sustainability Program

What’s happening? ESG-compliant funds now top US$40 trillion. And, it is growing. Not all ESG metric include input from indigenous people. Global Reporting Initiative and the Sustainability Accounting Standards Board reference them briefly. The missing link—-“provide advice on how to include Indigenous rights in company operations or decision making.”

How is this important? Indigenous population and rights are being re-affirmed in Canada and by the US Supreme Court. Enter the Indigenous Sustainable Investment Conference that will “highlight how Indigenous-led efforts in each area of ESG could serve as templates for investors to reduce risk and improve investment decisions in major projects.”

Why will this be important? Impact investing, diversity and inclusion aren’t going away.

BIV | Indigenous input missing from Canada’s ESG investment standards

What’s happening? Survey data from GlobeScan shared by Seafood Expo North America Reconnect  identified purchasing trends that Millennials and Sen Z is behind sustainable purchasing. When it comes to seafood:

• 70% of consumers want more info from companies about sustainability
• 63% want to know their fish can be traced back to a known and trusted source
• consumers 18 to 34 were the most likely to notice eco labels
• 70% of Gen Z have been inspired by an online influencer to live in a more sustainable way

Why is this important? From 1999- 2017 20% of purchasers said they would reward sustainable companies. In 2020, that number jumped to 38%. Yes, nearly doubled.  

How will this be important? Sustainability, social impact, egg, csr, corporate social responsibility is like a cartoon snowball , and we’re at that stage where the snowball is growing and rolling.

Seafood Source | Millennials, Gen Z driving sustainable seafood purchasing shift

What’s happening? Let’s look at T Rowe Price’s press release…because their word choices here say A LOT about the growth and import of ESG. They say “significant secular changes afoot” and “link between societal good and performance”

Why is this important? it’s like when you realize your weird uncle whose reputation to put his foot in his mouth all of a sudden became woke.

How will this be important? Change is afoot… This is the new normal.

T Row Price Launches First Impact Fund