Harnessing the Power of Business for a Better World: The Intersection of Profit, Purpose, and ESG
There is a growing realisation that businesses must do more than simply generate profits. They must also serve as a force for good and contribute to meaningful environmental and societal change. This way of doing business is no longer a lofty ideal, but fast becoming an essential element of running a business in today’s rapidly evolving world.
So, what’s causing this?
There has been a profound sentiment shift in the way people view their work and their relationships with businesses. The isolation and reflection induced by the pandemic led to the so-called “Great Resignation,” as people sought out more meaningful work opportunities with companies dedicated to making a positive impact on society and the environment.
In addition, today’s consumers are also more discerning than ever, with recent studies indicating that over 81% of participants prefer to align themselves with brands that share their values and contribute to the greater good. With the influence of social media and access to information at their fingertips, people are more informed than ever about the practices and values of the brands they support.
The actions we therefore take and the choices we make as a collective are coming together to apply the right amount of pressure, at the right time, in the right places. While activism plays a key role in raising awareness of critical issues, it can only go so far in driving change. The real power lies in engaging with and encouraging the global giants of today’s world economy to create a better future for tomorrow. If we can harness the collective power of these businesses, focusing their vast resources on addressing pressing issues, then the impact can, and will be truly transformative.
Businesses recognising this new way of working are therefore becoming more profitable, attracting the best talent and thus making themselves more attractive to investors – and so a virtuous cycle begins.
This way of doing business leans into and builds upon the 2006 launch of the UN-supported Principles for Responsible Investment, which sought to encourage investors to use Environmental, Social and Governance factors (ESG) in their decision making processes. If money makes the world go round, then moving that money towards businesses doing good things is one giant leap forward.
ESG is a way to rate companies based on how they treat the planet, people, and their own internal decision-making processes, encouraging businesses to hold themselves accountable through a systematic commitment to improving both business practices and the impact they make.
By fostering a shared mindset around sustainable and responsible business practices in this way, and demanding more; ESG is helping to align corporate goals with broader environmental and societal needs – a declaration of interdependence if you will.
ESG has therefore created a clear route forward for businesses to demonstrate their commitment to positive change, not only to attract and retain investors, customers and talent, but also because slowly, we are all beginning to realise that collectively by combining the cumulative power of society and the global impact of big business – change can indeed be achieved.
At Tilt, we are defined and united by our purpose. We believe that nice people can change the world, and that business can – and should – make a positive impact on people’s lives.
A force for realistic good.
We have therefore made it our mission to leverage our expertise in creativity and strategic thinking to help businesses doing good things bridge the gap between aspirations and tangible outcomes.
We achieve this by:
By harnessing the power of creativity, we believe that businesses can become a driving force for good in the world. It’s not just about making a profit; it’s about using that success to create a brighter future for people and the planet. And when businesses commit to this vision, we all stand to benefit.
Some of the big players are already firmly committed to this journey, pioneers seeking to pave the way for others and we have been fortunate enough to collaborate with a few of them.
It’s all good, positive, heartwarming stuff. Creating change on a global stage.
The more we come together and engage with the global giants of this world … the more we are able to help shape the world’s economy, our futures and those of our children.