NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

VeriStell Institute and The Walrus are the first in the world to launch a global online forum about Environmental, Social, and Governance (ESG) and Corporate Purpose as the new business essentials.

A global societal shift has been set in motion by the events of 2020. It is redefining the contract between businesses and their communities—from simply “being responsible” to creating real social value. Irrespective of where you are located in the world or the size of your firm, the “purpose of the organization”—within the context of broader society—is rapidly undergoing the most important sea change of our time.

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Competitive advantage is founded in trust, and trust is at an all-time low. Ignoring ESG and your Corporate Purpose can erode your brand image and jeopardize long-term competitiveness. Failure to leap is your biggest risk. Courageously daring to leap is your biggest opportunity. People expect business to not only drive shareholder value but to concurrently create social value. Pinpointing and addressing a pressing societal issue that leverages your corporate DNA will enable long-term competitive advantage.

Their global forum will explore the competitive benefits of “Daring to Leap” and illuminate the complexities, challenges, and opportunities of this new “making society sustainable” journey. They plan to highlight the global brands that are in the midst of making the leap—and to explore their key learnings.

They want to probe some of the following questions:

• What is the definition of Corporate Purpose?
• Does the strategic duo of “ESG and Corporate Purpose” enable a competitive advantage? Why? Can you have one without the other? Is there a new, additional currency at play—and what is the role of trust?
• Will new market forces push organizations to have a greater desire to add value to society? Do you think a government policy is needed to nudge firms in that direction or can firms get there with no regulatory intervention?
• What is the new leadership model for the sustainability frontier? How is the S in ESG different from Corporate Purpose? Can it be measured?
• Is investor power the real engine behind a governance shift post-2020—and will the rapid shift in capital allocation continue? Will cost of capital or availability of capital be the catalyst for change?

Together, we will share a clear definition and principles of Corporate Purpose (for small, medium, and large firms) and how ESG and Corporate Purpose stay cohesive. They will speak to what is happening on the cutting edge of sustainability and shine a spotlight on those global brands who are actually doing the work. Daring to Leap will tackle these questions on a global stage to spark conversations around the world.