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1–14 of 14
Date
Titre
Durée
06 May 2024
Welcome!
00:00:41
Welcome to the Business and Society Podcast, where we discuss the role of business in society with influential thinkers.
We are a monthly podcast, launching our inaugural episode on the 14th of May, 2024. Please don’t forget to subscribe to the show on Spotify and Apple. See you soon!
#1 Profit with Purpose - Unpacking the Rise of Socially Responsible Business with Jeffrey Sachs
00:55:27
Embark on a journey of discovery with Professor Jeffrey Sachs, a luminary in the realm of sustainable development, as we discuss the transformative role businesses must adopt in our rapidly changing world. This podcast delves into the necessity for companies to transcend their traditional profit-centric paradigms and wholeheartedly embrace social equity, environmental preservation, and global collaboration. Sachs eloquently challenges the dated Milton Friedman doctrine, advocating for a corporate accountability that extends well beyond the bottom line and into the heart of societal welfare and planetary health.
As we traverse the nuanced landscape of the Sustainable Development Goals (SDGs), Professor Sachs sheds light on the intricate relationship between these global aims and the private sector's potential to foster change. From confronting the criticism of 'woke capitalism' to addressing the sly tactics of greenwashing, we uncover the authentic vision of business practices that genuinely contribute to our collective goal of sustainable progress. It's a revelation of how forward-thinking companies can support fundamental initiatives, such as educational advancement in less affluent nations and the conservation of our precious marine life.
Concluding our enriching exchange, we explore the profound intersection of sustainable advancement and spiritual wisdom, tapping into the moral and intellectual virtues that underpin both the individual's growth and society's advancement. Professor Sachs's insights inspire us to consider the ethical imperatives that guide our behavior and the significance of personal development in crafting a harmonious global community. This is more than a conversation; it's an invitation to engage in the ongoing discourse on the critical role of business in shaping a future that we can all be proud of.
Additional inspirations from Professor Jeffrey Sachs: •Book Club with Jeffrey Sachs : Apple - https://podcasts.apple.com/in/podcast/book-club-with-jeffrey-sachs/id1555300202 Spotify - https://open.spotify.com/show/2PtBgoV7nNBPjQFzAGuIjH?si=387ddb8985fd420f
#2 Who's Embracing Sustainability? - Exploring Sustainable Consumers and Corporate Sustainability Leaders with Chris Coulter
00:41:35
Ever wonder how corporate sustainability has evolved from a fringe concept to a core business strategy? Join me as I engage in a compelling conversation with Chris Coulter, Chief Executive of GlobeScan. Chris takes us through the transformative journey from the foundational 1987 Brundtland Report to groundbreaking initiatives like Marks and Spencer's Plan A and Unilever's Sustainable Living Plan. Chris provides an insider's perspective on how companies have transitioned from merely minimising harm to actively creating value, aligning with environmental and social values in today’s purpose-driven business era.
In this episode, we delve into the complex dynamics of sustainable value creation, addressing the significant challenges businesses encounter in balancing immediate shareholder returns with long-term sustainability goals. We examine the growing anti-ESG sentiments and the crucial role of robust internal commitment and supportive policy environments. Chris and I explore the impact of global crises like COVID-19 and inflation on consumer behaviour and climate awareness, underlining the importance of consistent messaging to drive sustainable consumption. Tune in to gain practical insights into the future of corporate sustainability and discover how businesses can effectively engage stakeholders in their sustainability journey.
#3 Beans to Brews: Navigating Coffee Supply Chains and Sustainability with Carl Cervone
00:32:07
Sustainability in the coffee industry is more complicated than it seems. Join us as we uncover coffee supply chains with Carl Cervone, a leading authority on coffee sustainability. From the unique perishability of freshly harvested beans to the long-lasting nature of processed green coffee, Carl takes us through the journey of coffee from farm to cup. Learn about the significant impact of smallholder farmers and understand the economic landscape they navigate.
We touch on the key sustainability risks in coffee supply chains, the progress, and stringent European regulations such as EUDR and CSDDD, which, while aiming to curb deforestation, could paradoxically worsen economic conditions for small-scale producers.
Discover how technology and digitalization could help bridge the gap between traditional farming practices and modern advancements, providing new opportunities for connectivity and innovation. We delve into the challenges and benefits of digitalization, from geomapping technologies to data ownership and interoperability.
Carl shares his perspective on the importance of being open to diverse perspectives and acknowledging and learning from failures. His recommended skills for social entrepreneurs and a book that influenced his recent thinking will inspire many. This episode is packed with actionable insights and practical advice, making it a must-listen for anyone interested in coffee supply chain sustainability.
#4 The Difficulty of Being Good: How to build purpose-driven ventures in competitive markets with Matt Morrison
00:29:25
Get ready to challenge your preconceptions about business and sustainability with our latest episode featuring Matt Morrison, co-founder of All Good Bananas and Karma Drinks. Learn how Matt and his team turned the hyper-competitive industries of bananas and soft drinks into platforms for good, emphasizing ethical practices and sustainable supply chains. Discover how their mission to be beneficial for both growers and the land has attracted a dedicated consumer base, proving that purpose-driven businesses can thrive even against industry giants.
Listen as we uncover the intricate balance between profit and purpose, navigating through the unprecedented challenges of the Covid-19 pandemic. Matt shares invaluable insights on transparent communication with consumers, managing compromises without losing sight of the mission, and the indispensable role of investor support. Hear about the relentless focus on product quality and the behind-the-scenes efforts to maintain sustainable supply chains, ensuring ethical practices from farm to table. This episode is packed with lessons on building trust and loyalty even during the toughest times.
Finally, be inspired by the bold strategies that led to All Good’s breakthrough in New Zealand, from importing massive quantities of bananas without secured buyers to gaining support from community groups. Matt’s stories of persistence and community-building offer practical takeaways for entrepreneurs looking to integrate purpose with commercial success. Don’t miss out on Matt’s recommended readings and captivating anecdotes that provide a fresh perspective on running a purpose-driven business. Tune in and join the conversation on how to align business with ethics and sustainability.
Link to All Good website - https://all-good.co.nz/ Link to Karma Drinks website - https://karmadrinks.co.nz/
#5 Warming Up: How businesses should respond to climate change with Jonatan Pinkse
00:31:40
In Warming Up: How Businesses Should Respond to Climate Change, Professor Jonatan Pinkse discusses the challenges in green transition and the culture war at our doorstep.
Why are some businesses reluctant to come aboard the green transition? Why is ESG facing pushback? How is the push for green transition helping the rise of the political right?
Pinkse, professor of sustainable business at King's Business School (London), presents the business case for sustainability and explains why it is weaker now and why businesses are tip-toeing on sustainability today despite ESG becoming mainstream.
System transformation calls for focusing on people, not just technology. Pinkse shares his research on developing a workforce for the green transition and illustrates, with everyday examples, the challenges of reskilling.
Be it sustainability or differences in academic life, Pinkse favors a pragmatic approach that recognizes hard realities and avoids disappointment from utopian ideas.
#6 Sustainability = Profit? Bridging sustainability strategies and financial performance with Tensie Whelan
00:27:45
Can embedding sustainability into your business strategy really boost your bottom line? Join us as Tensie Whelan, an expert in sustainable business practices, reveals how the Return on Sustainability Investment (ROSI) framework can drive financial performance through operational efficiency, innovation, and risk mitigation. She shares compelling examples from the apparel and automotive sectors, demonstrating that genuine commitment to environmental and social issues isn't just good for the planet—it's good for business. This episode delves into whether we've reached peak ESG and why material issues remain critical for long-term competitive advantage.
Why aren't businesses measuring the impact of their sustainability efforts, and how can they start? Tensie tackles this paradox by highlighting the shortcomings of current accounting systems and the necessity of showcasing financial returns within a capitalist framework. We explore powerful case studies from industries like automotive and pulp and paper, illustrating the significant financial gains achievable through sustainable practices. Dive into the substantial benefits within supply chains, consumer trends favoring sustainably marketed products, and effective messaging that resonates across political divides. From sustainable sourcing to the importance of certifications, discover how to make a compelling business case for sustainability investments.
#7 Not Just Economics: How to Build a Just Economy with Nick Romeo
00:31:46
In this episode, Nick Romeo, a journalist and an author, discusses some of the ideas from his recent book, The Alternative: How to Build a Just Economy. He discusses widening wealth inequality and the climate crisis and argues that these are urgent challenges with existing global solutions. He emphasizes that policy choices, not natural laws, shape economic systems and critiques business models relying on underpaid workers, advocating for fair wages and worker well-being as measures of success.
Nick highlights the importance of aligning economic systems with societal values, noting that many progressive policies have broad support. He also discusses "true pricing," which includes products' environmental and social costs, suggesting a gradual implementation for essentials like fuel to avoid unrest.
He argues that political choices and calls for effective regulation inherently shape markets. While acknowledging the successes of free-market economics in emerging economies, Nick questions whether these gains could be achieved without the associated negative impacts.
Nick critiques billionaire philanthropy, questioning the morality of wealth accumulation that exacerbates societal problems and calling for a reassessment of how wealth is generated and distributed.
Tune in for a rich dialogue that challenges conventional wisdom and proposes a more equitable and sustainable future with the potential for positive change.
More inspirations from Nick Romeo: Link to his book: https://www.amazon.com.au/dp/1541701593?ref_=mr_referred_us_au_au New Yorker Articles: https://www.newyorker.com/contributors/nick-romeo Website: https://www.nickromeowriter.com/
#8 Debunking the Big Myth - Free-Market Radicalism, Governance, and Sustainability with Naomi Oreskes
00:42:22
Discover how deeply entrenched beliefs in the free market's supremacy have shaped our society, often to our detriment. Today, we sit down with Professor Naomi Oreskes to discuss her latest book, "The Big Myth: How American Business Taught Us to Loathe Government and Love the Free Market," where she unravels the historical and contemporary implications of this ideology. From climate change to the opioid crisis, Naomi explains why understanding the balance between market strengths and the necessity of effective governance is crucial for future business leaders.
We journey back to the economic debates of the 1930s and 40s, exploring Keynesian economics versus the Austrian School led by Ludwig von Mises and Friedrich von Hayek. Naomi sheds light on how American business leaders initially failed to overturn New Deal policies, only to find their arguments gaining traction in the economically turbulent 1970s. This sets the stage for Milton Friedman's influential ideas and sparks ongoing debates about government's role in markets.
As we look to the future, Naomi delves into contemporary issues like corporate sustainability, the fossil fuel industry's impact on climate research, and the ethical complexities of AI technology. Her insights on corporate social responsibility call for a return to community-focused business practices. Concluding with a reflection on ethical leadership and the shift away from shareholder value maximization, this episode is a must-listen for anyone invested in the intersection of business, governance, and societal well-being. Join us for a thought-provoking conversation that challenges conventional wisdom and advocates for a more balanced and socially responsible economic system.
#9 Changing Minds - How to Harness Behavioural Science for a Sustainable Future with Liam Smith
00:25:38
Unlock the secrets of sustainable development through the lens of behavioural science with our special guest, Liam Smith, Director of BehaviourWorks Australia. Discover how understanding human behaviour can accelerate progress towards the Sustainable Development Goals (SDGs) and the role of incentives in driving change. From the highs and lows of solar panel adoption to the balance between financial motivations and intrinsic environmental values, this episode offers compelling insights into how behavioural science intersects with policy and private sector initiatives.
We also tackle some hard-hitting ethical questions that sustainability leaders face, such as the legitimacy of influencing others' behaviours and the boundaries of ethical tools used in these efforts. Real-world examples, like using a fictitious photographer at Port Campbell National Park, shed light on the delicate moral terrain. Finally, we explore the dual impact of social media on societal movements and the significant behavioural shifts post-COVID-19, emphasizing resilience and pragmatism in the face of global challenges. Tune in for a thought-provoking conversation that could transform your understanding of sustainable development.
More inspirations from Liam Smith: Link to the latest book he edited: https://publishing.monash.edu/product/inspiring-change/ MOOC-Changing Behaviours for Sustainable Development: https://www.behaviourworksaustralia.org/blog/this-is-massive-open-online-and-about-change
#10 Demystifying ESG - Sustainability and Investor Value with Todd Cort
00:37:55
Unlock the secrets of ESG and sustainability investing with Professor Todd Cort from the Yale School of Management. Explore the nuanced differences between ESG investing, impact investing, and corporate sustainability efforts, and understand how they cater to various stakeholder concerns and investor motivations. This episode promises to clarify how corporate sustainability impacts stakeholders like customers and employees, while ESG investing focuses on the financial materiality of environmental, social, and governance factors for investors.
This episode breaks down the empirical evidence linking ESG performance to financial success, referencing comprehensive meta-analytic studies. We explore the world of ESG ratings with agencies like MSCI and Sustainalytics and understand the complexities and criticisms they face. We also get practical advice on identifying the most financially material ESG risks for your investment portfolio and explain why the performance of ESG-labeled funds remains an area of ongoing scrutiny.
Lastly, we delve into the significance of investment fund labels and what they mean for retail investors. Navigate through the financial materiality of pressing ESG topics like climate change, biodiversity, and DEI, and learn how to handle conflicting views in the ESG space.
Todd also recommends essential reads such as "Net Positive" and "Beaverland" to equip aspiring sustainable business leaders with the knowledge they need. This episode is packed with valuable insights to help you align your investments with your values and understand the skills needed for leading in today’s evolving business landscape.
#11 Corporate Sustainability: Rethinking Responsibility and Impact with Auden Schendler
00:27:31
Can global brands really lead the charge against climate change, or are they just playing a part in a much bigger distraction? Join us in a thought-provoking conversation with Auden Schendler, Senior Vice President of Sustainability at Aspen Skiing Company, as he pulls back the curtain on corporate sustainability efforts. With a bold critique, Auden challenges the traditional focus on individual carbon footprints, arguing it often distracts from the systemic changes necessary to dismantle the fossil fuel economy. Through his own journey from various humble jobs to a pioneering role in sustainability, Auden shares his experience in transforming a coal-powered utility into a clean energy success story, emphasizing the urgent need for businesses to prioritize sweeping systemic shifts over voluntary eco-friendly gestures.
The conversation doesn't stop at environmental issues alone. We delve into the vital intersection of climate change, corporate responsibility, and social justice, exploring how businesses can transcend mere economic interests in favor of ethical imperatives. Auden makes a compelling case for merging climate and equity movements, envisioning a more inclusive path forward. Amidst global polarization, he remains optimistic about the future, underscoring that structural political challenges are surmountable. With insights from his upcoming book "Terrible Beauty," Auden paints a hopeful picture of businesses adopting a values-driven approach, fostering lasting social and environmental impact beyond the bottom line.
More inspirations from Auden... https://audenschendler.com/ Link to his latest book, Terrible Beauty: Reckoning with Climate Complicity and Rediscovering Our Soul. https://a.co/d/1RKMeUh
#12 In Business We Trust - Lessons from The Edelman Trust Barometer with David Bersoff
00:45:01
Discover why businesses are taking the lead in societal trust, with David Bersoff from the Edelman Trust Institute sharing insights from their latest Trust Barometer Report. You'll learn why companies now outscore governments, media, and NGOs in trust ratings and how they are stepping up to address global challenges where traditional institutions fall short. We tackle the complexities behind these trust metrics and explore the evolving expectations placed on businesses to champion social issues.
Join us as we dissect how the type of business and its origin influence public perception. Family-owned enterprises and small businesses tend to garner more trust compared to their larger counterparts, often tied to the personal accountability that comes with a family name. The discussion also navigates the impact of geopolitical factors and national stereotypes on a company's trustworthiness, and the increasing demand for business-government collaborations to drive innovation and build robust partnerships.
Engage with our conversation on the strategic engagement of brands in societal issues, focusing on aligning actions with core values and stakeholder expectations. Hear how some brand decisions, like those from Bud Light and Natura, illustrate the fine line between successful and unsuccessful stances on social matters. We also delve into the personal growth lessons that can be drawn from professional setbacks, stressing the importance of resilience and reciprocal trust in nurturing lasting business relationships.
#13 In Troubled Waters? Profit and Pollution on the High Seas with Olive Heffernan
00:41:39
Discover the untamed expanse of our planet's high seas with Dr. Olive Heffernan, a distinguished science journalist and author, as she navigates through her latest work, "The High Seas: Ambition, Power, and Greed on the Unclaimed Ocean" Dr. Heffernan’s unique perspective, fueled by her upbringing in the coastal town of Dun Laoghaire, Ireland, and her transition from fishery scientist to authoritative voice in science journalism, promises to immerse you in the legal and ecological intricacies of these international waters. With half of the Earth's surface and a staggering 95% of its living space encompassed by the high seas, we uncover the pressing need to redefine resource ownership and management in this vast and largely ungoverned domain.
Plunge into the murky waters of the global fishing and mining industries where labor abuses and ecological threats loom large. The tales of exploitation and illegal activities on fishing vessels reveal a grim reality, while the contentious practice of deep-sea mining poses a difficult dilemma: can we reconcile the demand for critical minerals for green technologies with the preservation of fragile ocean environments? Dr. Heffernan shares thought-provoking insights into the challenges and potential solutions for these industries, highlighting the broader implications for our planet and society.
We also explore ambitious initiatives aimed at harnessing the ocean’s potential in combating climate change. From the cultivation of seaweed to the distribution of iron dust, and even the deployment of olivine rock for carbon capture, the conversation takes a critical look at the prospects and pitfalls of enhancing ocean carbon sequestration. Finally, we turn the spotlight on ocean-based literature with a discussion of Richard Powers' novel "Playground," which eloquently captures the environmental struggles of island communities. Join us for this compelling journey into the heart of oceanic challenges and storytelling.
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