Introduction: An Inclusive, Sustainable, and Prosperous Future

Abstract

“The world faces social, economic, and environmental challenges that are projected to increase exponentially over the coming decades.” That was the opening sentence in the original edition of this book, written one decade ago.

Based on the research and case studies for this new edition, the conclusions made in the original edition are affirmed here: that only companies have the vast resources, global footprint, and market incentives to create and scale innovative solutions to the world’s most daunting challenges. Furthermore, that businesses that make progress have three things in common: the board of directors understands the value proposition of addressing social, economic, and environmental challenges; the company is effective in engaging stakeholders; and the company collaborates with NGOs, governments, and sometimes other companies.

Racial equity and justice, and gender equity, were major themes in the original edition. It has become clear, however, that these are not simply aspirational goals. Instead, racial inequity and injustice, and gender inequity, are fundamental and systemic problems that must be addressed for companies to grow value, and for society to thrive. This is the only path to sustainability and prosperity. This edition examines the challenges and opportunities, and some approaches that show promise.