Ami Hedenborg’s Post

We at World Benchmarking Alliance have published our inaugural Social Benchmark assessing the 2,000 most influential companies – on their responsibility to meet society’s fundamental expectations towards respecting human rights, providing decent work, and acting ethically. Directly employing an estimated 95 million people and hundreds of millions more via their operations and supply chains and generating revenue the equivalent of 45% of global GDP, these companies play a crucial role in the 2030 Agenda to #LeaveNoOneBehind. Learn more about our findings: https://lnkd.in/dzBkR8CD #SocialBenchmark2024

Reading the article “Research: Speed Matters When Companies Respond to Social Issues” by Alison Wood Brooks, Jimin Nam, Maya Balakrishnan, and Julian De Freitas (https://lnkd.in/grU399UB), made me think about seamanship being an art and the importance of careful planning for navigating the waters of corporate maritime environment and ESG goals. In the fast-paced world of social media and public opinion, the speed with which a company addresses ESG issues critically shapes its brand perception. Recent research highlights that response speed is as vital as the nature of the response itself, particularly concerning authenticity and consumer loyalty. In the maritime industry, where operations are as vast as the oceans and scrutiny is high, responding quickly to environmental, social, and governance issues can set a company apart. Whether it's addressing environmental concerns, advocating for better labour practices, or supporting global humanitarian efforts, maritime leaders are finding that a swift response not only aligns with ethical standards but also resonates with a global audience looking for authenticity. I believe the lesson of the article is clear. Speed matters when it comes to ESG matters. Maritime companies have the unique opportunity to lead by example, showing that even the giants of industry can move quickly to support sustainability through their ESG goals. By integrating them fast, yet thoughtful, maritime businesses can navigate the rough seas of public opinion, steering towards a future where responsibility and rapid response go hand in hand.

As the BHR community gathers in Geneva for the #UNForum, the #CSDDD #trilouge is thankfully moving forward and #LkSG implementation is getting more #meaningful as more Guidance is released. As a new study by Michael Goldhaber for the NYU Stern Center for Business and Human Rights (https://lnkd.in/e-gjCVR9) shows, this is utterly needed, because the voluntary #ESGreporting model is failing. With Stéphane Brabant and Michael, we resume for ESG.Table why this requires the EU to step up their game in order to regulate human rights worldwide & effectively - https://lnkd.in/e6tZJQCa (in German). Meanwhile in Germany implementation of the #LkSG is picking up speed as Bundesamt für Wirtschaft und Ausfuhrkontrolle (BAFA) and Helpdesk Wirtschaft & Menschenrechte publish and translate guidance on how to collaborate with suppliers in a meaningful and effective way when implementing #HREDD (https://lnkd.in/ewD2Y7P6). As Michaela Streibelt and me point out in a blogpost for NOVA Centre on Business, Human Rights and the Environment (https://lnkd.in/ezjiabic), this will require companies to stop simply passing on HREDD obligations to suppliers and instead build implementation approaches that are based on #sharedresponsibility in contracts and #responsiblepurchasingpractices. The #openaccess Toolkit of the Responsible Contracting Project (https://lnkd.in/ePXPA-hJ) and helpful guidance on #responsiblepurchasing provided by the #CommonFramework (https://lnkd.in/encie9kJ) can help guide companies when implementing the requirements. If you want to talk on any of this, including on #EMC or #SMC or on a #childlabour charta Alan Franklin, Stéphane Brabant and me are working on, or an article analyzing the impact of #LkSG and #loidevigilance Céline da Graça Pires and me are writing, feel free to reach out!

I'm thrilled to share a peer-reviewed article I co-authored with Manuela Fumarola Ismael Erriest and Rohini Kale for the Journal of Impact Investing. The article details how investors can successfully engage with their asset companies to maintain and improve human rights across supply chains. Few people understand that global supply chains are now the leading cause of human slavery. Some ILO estimates believe that close to 100,000,000 people experience human rights abuses within manufacturing value chains. Investors have a moral and fiduciary responsibility to protect basic worker rights. Mismanagement of these topics is a leading cause of legal fees and even bankruptcies. Investors cannot afford to maintain such a laissez fair attitude to embedded abuses in linear supply chains. Society and financial clients increasingly expect investors to play a proactive role in advancing basic human rights. Thank you to Cambridge Institute for Sustainability Leadership (CISL) for your guidance and support. Thank you to Cindy Berman for your expertise and assistance.

In today's fast-paced world, technology is a double-edged sword. It has fueled business growth but also exacerbated resource inequality, leading to socio-political tensions. As we stand on the brink of a new future, it’s clear that traditional tools and systems, including those driving shareholder capitalism, are no longer adequate for securing humanity's long-term well-being. Our reliance on incentives and regulations to drive ethical behavior and sustainability is flawed. Join Rajeev Peshawaria, CEO of Stewardship Asia Centre, at The Institute of Internal Auditors Inc. International Conference as he explores why systems based on regulations and incentives fall short of ensuring societal and environmental change. 📅 Date: July 16, 2024 🕒 Time: 3:00 PM - 4:00 PM ET #Sustainability #Stewardship #Regulations #InternalAudit #ResourceManagement

Are businesses equipped to navigate ethical crossroads and prioritize social impact within global expansion? As companies expand across borders, their influence transcends mere profit-making. They exert substantial power to shape societies and impact environments worldwide. Issues like supply chain transparency, fair labor practices, and environmental sustainability demand vigilant attention. Together, let's shape a responsible future for businesses worldwide. https://lnkd.in/gEFtCH3f #ethics #legalservices #technews #financial #accountability #businessexcellence #innovations #global #businessethics #growthstrategy #inclusivity #integrity #businessgrowth #corporategovernance #ethicalbusiness #sustainablebusiness

“Moreover, the environment and sustainability have become integral to business strategies, consumer spending and ESG (environmental, social and governance) considerations. Supply chains have a substantial impact on ESG outcomes, making it imperative for companies to assess how their extended supply chain aligns with environmental goals. Embracing eco-friendly practices and working with partners who share similar environmental values can enhance brand reputation and long-term viability. A recent study from PwC found that 76% of consumers will not purchase or work for a company that is negligent in ESG matters”. #exponentialbusiness #businessgrowth #boardmember #entrepreneurship #entrepreneurialmanagement

Webinar 💻 Join Principles for Responsible Investment, UN Working Group on Business and Human Rights and institutional investors to discuss market trends, insights from practitioners on best practice and UN recommendations for improved implementation of respect for human rights. 📆 16 July Register ⬇️https://lnkd.in/eSi5bnZX #esg #bizhumanrights

This year, don’t just research what’s gone wrong in our sector. Use the practical recommendations in Transforming Partnerships to make real, tangible change and build more equitable partnerships. Take a look & take action now: https://lnkd.in/eiNK3Z75

Sustainable Development Goal No. 16 supports peace, justice, and strong institutions. But how do businesses navigate and thrive when conflicts emerge, and institutions fail? 🕊️ Supply chain disruptions, economic sanctions, increased operational costs, consumer boycotts, and employee activism are just some of the business implications of geopolitics. 📉 So how can we make both our business and the world a better place? Join our Spring half-day miniconference 31 May in The Social Business Club to network, discuss and get insights into: 💡 Trends & cases of geopolitics in business 💡 Ethical investment strategies in times of war & conflicts 💡 Geopolitical consumers & responsible supply chains 💡 Value chain due diligence & ESG requirements See the full programme here: https://lnkd.in/dquqQpXj Sign up here to join us - and please feel free to share this invitation with your own network: https://lnkd.in/dxSnFQeV ✅ We hope to see you - online or in Copenhagen - for an insightful & inspiring session 👋 PS. The Social Business Club is our open network forum here on LinkedIn for sustainability professionals. To become a member, simply join us here: https://lnkd.in/eG3g-yJ5 #miniconference #thesocialbusinessclub #geopolitics #peace #duediligence #corporateactivism #businessasaforceforgood