Over the last number of years there has been a growing movement within Ibec members and business globally to consider the impact of their operations, not just in terms of maximising returns but in generating returns in a way which balances economic, environmental, social and governance goals.

Some of this change has been driven by the demands of citizens and consumers, others by political or regulatory change, but through it all is a growing sense of responsibility within companies themselves, from employees to management teams. Being connected to broader goals when defining our competitiveness mission is becoming central to the operation of business in this new ‘Environmental, Social, and (Corporate) Governance’ (ESG)-conscious environment.

From shareholder value / to stakeholder value

Ensuring that broader non-financial and societal goals are considered when setting key performance indicators for business.

From maximising output / to maximising sustainable output

Planning business investments in ways which align with ambitious national and international climate and environmental standards.

From the lowest tax outcome / to competitive and reputable outcomes

Ensuring that business operations and tax planning align with agreed OECD BEPS standards.

From being apart from social change / to being a part of social change

Taking a leadership role by ensuring that business practices from the boardroom to the supply chain are founded on ethical standards.

From individualism first / to collective approaches to new challenges

Not only being a voice for an open global economy for trade, people and investment but also engaging with other stakeholders to ensure the political support exists for openness.

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