Last year brought us a long way toward understanding that business has an obligation to the public. The encouragement we all felt as we watched companies address issues and change policies with an eye on their impact was palpable. The tide was changing.
Some companies proved their commitment to improving lives by standing up for gender pay equality or diversity in the work place. Others updated their own purchasing regulations or policies like when and to whom they’d sell guns or whether or not they’d participate in the government’s immigration policies. Still more invested in recycling or made commitments with timelines for creating more sustainable packaging or dates by when they’d switch to using sustainable palm oil.
Every promise made by businesses large and small is a step in the right direction. When a company shows it cares as much about how and where it obtains materials and the effect it is having on the environment, it makes a statement that businesses must be part of the solution rather than continuing to add to the problems.
So what happens when things start to go right? We want more, of course.
Now that corporate America is beginning to understand the financial value of operating with an eye on sustainability, and that sustainable business practices are good for profitability as well as employee loyalty, we have permission to hope that the trend will keep building until one day, maybe even by the end of 2019, we’d be surprised to hear that any company would not be operating with a responsibility for people and the planet.
As a start, here are just three things to which we hope businesses commit in 2019:
First do no harm. Businesses need to think of and care about the physical impact they are having on the planet before designing, manufacturing, and shipping all products. This is easier said than done. Even after the commitment is made, it will take time to change to ensure they are not using ingredients that add to deforestation and thus accelerate climate change, for example. Or that their packaging is created with the circular economy in mind. The shift won’t happen overnight, but the commitment to first doing no harm can be made any minute of any day. Set the goal, announce it, and stick to it every day.
While we are at it, businesses need to not create things that are bad for people to begin with, and consumers should hold them accountable for what they produce. Take breakfast cereal as an example. Even if Froot Loops came in a 100 percent recycled box that was shipped in trucks powered by electricity instead of gas, they’d still be wildly unhealthy. There is no need to produce dessert and label it as a nutritious meal. Consumers should make note, be vocal about their values, and ask companies to be more responsible for what they manufacture and sell to the public. Consumers: take notice and speak up. Corporations are paying attention.
End racial and gender biases. We’ve had enough of companies giving hiring preferences and raises to white men. We’ll be watching for companies to stand up for equality for all their people in 2019 and for insisting on pay raises based on merit rather than gender or skin color.
At Teak, we will be watching and keeping tabs on companies that are doing the right thing in 2019, and those that are not. Stay tuned for more commentary and analysis. Here’s to a New Year of Business as a Force For Good.
