Putting the purpose in business: responding to rise in ethical consumers, colleagues and shareholders
Summary of presentation
There is a growing and thriving rise in customers, colleagues and shareholders demanding more ethical transparency from businesses. There are clear benefits to business putting a social purpose at the heart of what they do; and evidence suggests that when your purpose defines you, your people are happy, the planet benefits, and profits rise as a consequence. Alison Hutchinson CBE, CEO of Pennies, will explore how we can all re-centre our businesses, putting purpose first – and as a case study, what Pennies is doing in its own small way to create a movement of businesses, customers and colleagues – and with a £1bn opportunity for UK charities.
• There is growing demand from colleagues, consumers and shareholders on businesses to demonstrate their corporate responsibility and positive impact. This is increasingly relevant in ESG reporting, scrutinised by wealth managers and other stakeholders.
• By re-centering our businesses to place purpose at the heart, we can maintain and increase profits, better engage our colleagues, and communicate our social impact to our customers
• In the UK, Pennies is a charity borne of social purpose – that supports businesses to do just that – and also scale what they can achieve in their communities and nationally
• The opportunity in the UK is for businesses to join a movement with a £1bn potential of untapped income for the UK charity sector