CEOs call on fellow CEOs, business leaders to sign on to program
Canadian business leaders are hoping to make purpose front and center in the Canadian economy.
Recently, the Canadian Purpose Economy Project (CPEP) launched its A Call to Purpose campaign, which calls on business leaders to be part of the movement toward a purpose-first economy in Canada.
"Businesses with a social purpose are companies whose enduring reason for being is to create a better world by being an engine for good," said Coro Strandberg, co-founder and chair of CPEP.
"Many companies are already taking important steps to articulate and operationalize a social purpose as their meaningful reason to exist; however, there is more work to be done. A Call to Purpose brings together businesses from across sectors to support the development of a purpose economy, galvanize their stakeholders around it and develop purpose-driven lines of business, products and services that can provide solutions for society's challenges."
While 40% of workers say their company is doing enough in terms of their environmental, social and governance (ESG) efforts, and it’s making them proud, 23% say there is “somewhat” of an effort from their employer, but it’s not enough, Robert Half previously reported.
The A Call to Purpose campaign aims that by 2030, at least 25% of Canadian businesses have adopted, disclosed and authentically embedded a social purpose across their operations. This will create the tipping point by which social purpose in business becomes mainstream, according to CPEP.
More than 50 business leaders have signed on for the program, including:
- Darren Entwistle, CEO, Telus
- Michael McCain, CEO, Maple Leaf Foods
- Nancy MacKay, CEO, MacKay CEO Forums
- David Redfern, CEO, Lafarge Eastern Canada
- Rob Wesseling, CEO, Co-Operators
And they are calling on business leaders to consider why their organizations exist and for whom.
"As a purpose-driven organization, we believe that social purpose is a path to healthy communities and a strong economic environment, as well as profitability and growth,” said Maureen Young, Vice President, Social Purpose at Coast Capital, who’s also one of the founding champions of CPEP.
“It's the kind of business model we need to tackle the complex, systemic issues facing people in Canada today. For Coast Capital, our social purpose of Building Better Futures Together has been key to our evolution as a modern federal financial cooperative and as an organization that is dedicated to positively impacting our members, employees and communities. We're grateful for the opportunity to champion this collective effort to move towards a purpose-first economy and accelerate a better future for all.”
An increase in employers’ ESG investment leads to higher profits, according to a previous Infosys report.