The Importance of Net Zero Commitments in Business Strategy

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We see it from the point of view of management teams and from boards. They're formulating ESG or sustainability committees. If they don't have them already within their leadership teams, this is coming up more frequently on board agendas now. So there's also a stronger awareness from chairs and from board members of the importance of this effort.

The annual Davos summit just ended, and one of the topics of discussion at this World Economic Forum event was stakeholder capitalism.

In simple terms, stakeholder capitalism is the idea that companies are responsible to a wide range of stakeholders, including their customers, employees, suppliers and communities, as well as their shareholders. A few years ago, this was a big topic at Davos as the World Economic Forum helped develop a set of “Stakeholder Capitalism Metrics” to offer companies universal, comparable disclosures focused on people, planet, prosperity and governance.

In this episode of the ESG Insider podcast, we look at how discussions of stakeholder capitalism are evolving.

"It's not going away — if anything, our community of companies committed to this is growing," says Emily Bayley, the World Economic Forum's project lead for ESG. "We're starting to see companies not just talking and making commitments, but actually putting steps forward into action."

In the episode we also speak to Suz Mac Cormac, a partner at law firm Morrison Foerster, where she co-chairs the ESG, Social Enterprise + Impact Investing and Energy practices. “Stakeholder capitalism is here to stay,” Suz tells us.

We'd love to hear from you. To give us feedback on this episode or share ideas for future episodes, please contact hosts Lindsey Hall (lindsey.hall@spglobal.com) and Esther Whieldon (esther.whieldon@spglobal.com).

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