People, Profit and Planet
A nice perspective this time when companies are asked to do more. Yes, the era of stakeholder capitalism, not just shareholder capitalism. In that construct, Temitayo Ade-Peters (TEA) writes a beautiful article on People, Profit and Planet.
"How then can the private sector effectively contribute to sustainable development? The hallmark of the private sector is entrepreneurship. The private sector is made up of people who have identified specific problems, which they are either solving directly, or through investing their resources into powering other people’s solutions. Whichever route they choose, the focus is on the return on investment.
By it’s natural make-up, the private sector cannot actively contribute to sustainable development except there is a compelling business reason to do so. It is very easy to talk about doing things because it is the right thing to do, which of course is right. However, without the business mindset, the sustainability matrix is incomplete. There is indeed a reason the three Ps of sustainable development are People, Profit and Planet. The economic aspect of sustainability cannot be neglected and this is largely a burden shouldered by the private sector."
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