APPENDIX 5: REFERENCES AND FOOTNOTES

Section 2: Making Profit with a Purpose Real 7. Putting philanthropic efforts aside, can you share with us your business’ approach to linking profit with purpose? 8. Do you have any examples that come to mind of what your business has done to link profit with purpose? Please elaborate why you chose these measures and on how any hurdles that were faced to implement these measures were overcome. 9. How have you aligned corporate vision and goals, strategy and risk assessment processes, policies, and resource allocations of your organization to advance profit with purpose? What are the biggest challenges to implementation? 10. Considering it has been argued that getting the buy-in of key individuals is often a significant barrier to including linking profit with purpose amongst an organization’s core principles, how have you ensured the buy-in of shareholders, board members, senior management, and other employees? 11. How do you obtain the best, most recent thinking on effectively linking profit with purpose (e.g. consultants, advisors, business/industry associations, internal experts)? 12. Do the United Nations Sustainable Development Goals (often called SDGs) play any role within your business? Could the UN SDGs help your business to identify challenges, to measure success, to communicate vision and accomplishments? 13. Which SDGs are more important or relevant to your business and industry? How did you go about deciding which ones are more important?

Section 3: Collaborating for Impact 14. How should a business engage with stakeholders and even its competitors on shared challenges and opportunities with regards to profit with purpose? 15. Is the business involved in initiatives that have businesses, industries, and stakeholders working together to address societal issues? 16. It has been suggested that collaboration between businesses and civil society is strained due to distrust and cultural differences. Considering many people have signaled that there’s a need to further encourage multi-stakeholder collaboration on the subject of linking profit with purpose, how can the following groups strengthen effective collaboration with business: a. NGOs and other civil society organizations; b. Community groups; c. Media; d. Academia; e. Governments or other regulators; f. Other industry players; and g. the Society & Business Initiative 17. What advice would you have for other business leaders that want to build profit with purpose into the core principles of their business? Are there areas where you have had key successes and lessons learned that should be more broadly shared? 18. Are there areas that your business is still wrestling with to advance linking profit with purpose? How could the Society & Business Initiative assist?

Section 4: Moving Forward 19. With the U.S. Business Roundtable Statement in mind, would a similar Canadian Statement be useful and doable? 20. Considering the challenges and opportunities mentioned in this interview, how can the Society & Business Initiative be of best use overall and for your business?

Appendix 3: Society and Business Initiatives Around the Globe

BSR (Business for Social Responsibility) is a global nonprofit organization that works with its network of more than 250 member companies and other partners to build a just and sustainable world.

CDP (Carbon disclosure project) is a nonprofit running the leading global platform for environmental disclosure, focusing investors, companies and cities on taking urgent action to build a sustainable economy.

Ceres is a sustainability nonprofit organization working with the most influential investors and companies to build leadership and drive solutions throughout the economy.

The Prince of Wales’s Corporate Leaders’ Group is a select group of European business leaders working to advocate solutions on climate change to policymakers and business peers.

The B Team is a nonprofit initiative formed by a global group of business leaders to catalyze a better way of doing business, for the wellbeing of people and the planet.

The Climate Group is an international nonprofit that specializes in bold, catalytic and high-impact climate and energy initiatives with the world’s leading businesses and regional governments.

The World Business Council for Sustainable Development is a global, CEO-led organization of over 200 leading businesses working to accelerate the transition to a sustainable world.

Certified B Corporations are a new kind of business that balances purpose and profit. They are legally required to consider the impact of their decisions on their workers, customers, suppliers, community, and the environment. This is a community of leaders, driving a global movement of people using business as a force for good.

Anchored by SDG 17, Partnerships for the Goals, IMPACT2030 is uniting the private sector to scale the impact of their human capital investments to advance the Sustainable Development Goals.

The Movement of Movements project is an initiative currently being incubated at the Skoll Centre with the support from the McConnell Foundation. Ultimately the team aims to enable intensive and deliberate mobilization of movement organizations to build critical mass and enable deep and lasting transformation, resulting in change at the system level.

Partners for a New Economy is an international donor collaborative that wants the economic system to generate positive environmental and social outcomes. It was founded in 2015 by the MAVA, Oak, Marisla and KR Foundations. Their vision is an economy that enables communities, people and nature to thrive.

Stockholm Resilience Centre is internationally recognized for its transdisciplinary research. It advances the understanding of complex social-ecological systems and generates new insights and development to improve ecosystem management practices and long-term sustainability.

The Aspen Institute Business and Society Program, founded in 1998, works with business executives and scholars to align business decisions and investments with the long-term health of society—and the planet.

A major research and engagement program examining the purpose of business and its role in society, led by Professor Colin Mayer FBA, Professor of Management at the Saїd Business School.

Appendix 4: The Sustainable Development Goals (United Nations SDGs)

Appendix 5: References and Footnotes

1 Business Roundtable (2019, August 19). Business Roundtable Redefines the Purpose of a Corporation to Promote ‘An Economy That Serves All Americans’. Retrieved from https://www.businessroundtable.org/business-roundtable-redefines-the-purpose-of-a-corporation-to-promote-an-economy-that-serves-all-americans 2 Schatschneider, B. (2020, March 9). The Purpose of a Corporation: A Brief History. Retrieved from https://www2.law.temple.edu/10q/purpose-corporation-brief-history/ 3 Murray, A. (2019, August 22). America’s CEOs Seek a New Purpose for the Corporation. Retrieved from https://fortune.com/longform/business-roundtable-ceos-corporations-purpose/ 4 Business & Society, The Aspen Institute and Future of the Corporation, British Academy. 5 Statement - Inequality amplified by COVID-19 crisis. (n.d.). Retrieved from https://www.chrc-ccdp.gc.ca/eng/content/statement-inequality-amplified-covid-19-crisis 6 Canadian Centre for the Purpose of the Corporation (2020, September 11). Canadians Want Capitalism Reformed and Demand that Businesses Step Up on Fairness and Sustainability. Retrieved from https://navltd.com/insights/ccpc/barometer-09-2020/ (please note: Brian Gallant is the CEO of the Canadian Centre for the Purpose of the Corporation) 7 Carrington, D. (2019, October 13). Firms ignoring climate crisis will go bankrupt, says Mark Carney. Retrieved from https://www.theguardian.com/environment/2019/oct/13/firms-ignoring-climate-crisis-bankrupt-mark-carney-bank-england-governor 8 Nauman, B. (2019, September 9). Sharp rise in number of investors dumping fossil fuel stocks. Retrieved from https://www.ft.com/content/4dec2ce0-d0fc-11e9-99a4-b5ded7a7fe3f 9 Canadian Centre for the Purpose of the Corporation (2020, September 11). Canadians Want Capitalism Reformed and Demand that Businesses Step Up on Fairness and Sustainability. Retrieved from https://navltd.com/insights/ccpc/barometer-09-2020/ (please note: Brian Gallant is the CEO of the Canadian Centre for the Purpose of the Corporation) 10 Consumer Culture [5W PR 2020 Report] - NY PR Agency 5W Public Relations Blog. (2020, February 20). Retrieved July 30, 2020, from https://www.5wpr.com/new/research/5wpr-2020-consumer-culture-report/ 11 The Aspen Institute Business & Society Program argues it is also important for society in general that business define and understand its purpose; “The ways a company views its purpose are enormously consequential, not only to ensure corporate accountability, but perhaps more importantly as the architecture for value creation.” Retrieved from https://www.aspeninstitute.org/programs/business-and-society-program/purpose-of-the-corporation/. 12 Clift, K., & Court, A. (2020, March 23). COVID-19: How companies are responding. Retrieved from https://www.weforum.org/agenda/2020/03/how-are-companies-responding-to-the-coronavirus-crisis-d15bed6137/ 13 Gelles, D., & Yaffe-bellany, D. (2019, August 19). Shareholder Value Is No Longer Everything, Top C.E.O.s Say. Retrieved from https://www.nytimes.com/2019/08/19/business/business-roundtable-ceos-corporations.html 14 Posner, E. (2019, August 22). Milton Friedman Was Wrong. Retrieved from https://www.theatlantic.com/ideas/archive/2019/08/milton-friedman-shareholder-wrong/596545/ 15 Schatschneider, B. (2020, March 9). The Purpose of a Corporation: A Brief History. Retrieved from https://www2.law.temple.edu/10q/purpose-corporation-brief-history/ 16 Schatschneider, B. (2020, March 9). The Purpose of a Corporation: A Brief History. Retrieved from https://www2.law.temple.edu/10q/purpose-corporation-brief-history/ 17 Lipton, Wachtell, Lipton, Rosen & Katz. (2018, April 11). Retrieved from https://corpgov.law.harvard.edu/2018/04/11/the-purpose-of-the-corporation/ 18 The Economist (2020, March 14). Academics make an empirical case again stakeholderism. Retrieved from https://www.economist.com/business/2020/03/12/academics-make-an-empirical-case-again-stakeholderism 19 Business Roundtable (2019, August 19). Business Roundtable Redefines the Purpose of a Corporation to Promote ‘An Economy That Serves All Americans’. Retrieved from https://www.businessroundtable.org/business-roundtable-redefines-the-purpose-of-a-corporation-to-promote-an-economy-that-serves-all-americans 20 Business Roundtable (2019, August 19). Business Roundtable Redefines the Purpose of a Corporation to Promote ‘An Economy That Serves All Americans’. Retrieved from https://www.businessroundtable.org/business-roundtable-redefines-the-purpose-of-a-corporation-to-promote-an-economy-that-serves-all-americans 21 BCE Inc. v. 1976 Debentureholders, 2008 SCC 69 (CanLII), [2008] 3 SCR 560

22 Lipton, Wachtell, Lipton, Rosen & Katz. (2018, April 11). Retrieved from https://corpgov.law.harvard.edu/2018/04/11/the-purpose-of-the-corporation/ 23 Canada Business Corporations Act, R.S.C., 1985, c. C-44 (1985) 24 Stakeholders’ primacy: paradigm shift confirmed. (2019, September). Retrieved from https://www.nortonrosefulbright.com/en-ca/knowledge/publications/a979357b/stakeholders-primacy-paradigm-shift-confirmed 25 Posner, E. (2019, August 22). Milton Friedman Was Wrong. Retrieved from https://www.theatlantic.com/ideas/archive/2019/08/milton-friedman-shareholder-wrong/596545/ 26 The Economist (2020, March 14). Academics make an empirical case again stakeholderism. Retrieved from https://www.economist.com/business/2020/03/12/academics-make-an-empirical-case-again-stakeholderism 27 Denning, S. (2014, July 30). The Best Of Peter Drucker. Retrieved from https://www.forbes.com/sites/stevedenning/2014/07/29/the-best-of-peter-drucker/#5de43305a96e 28 Schatschneider, B. (2020, March 9). The Purpose of a Corporation: A Brief History. Retrieved from https://www2.law.temple.edu/10q/purpose-corporation-brief-history/ 29 Schatschneider, B. (2020, March 9). The Purpose of a Corporation: A Brief History. Retrieved from https://www2.law.temple.edu/10q/purpose-corporation-brief-history/ 30 Lipton, Wachtell, Lipton, Rosen & Katz. (2018, April 11). Retrieved from https://corpgov.law.harvard.edu/2018/04/11/the-purpose-of-the-corporation/ 31 Murray, A. (2019, August 22). America’s CEOs Seek a New Purpose for the Corporation. Retrieved from https://fortune.com/longform/business-roundtable-ceos-corporations-purpose/ 32 Porter, M. E., & Kramer, M. R. (2015, August 25). Creating Shared Value. Retrieved from https://hbr.org/2011/01/the-big-idea-creating-shared-value 33 Porter, M. E., & Kramer, M. R. (2011, January-February). Creating Shared Value. Retrieved from https://hbr.org/2011/01/the-big-idea-creating-shared-value 34 Posner, E. (2019, August 22). Milton Friedman Was Wrong. Retrieved from https://www.theatlantic.com/ideas/archive/2019/08/milton-friedman-shareholder-wrong/596545/ 35 The Economist (2020, March 14). Academics make an empirical case again stakeholderism. Retrieved from https://www.economist.com/business/2020/03/12/academics-make-an-empirical-case-again-stakeholderism 36 Canadian Centre for the Purpose of the Corporation (2020, September 11). Canadians Want Capitalism Reformed and Demand that Businesses Step Up on Fairness and Sustainability. Retrieved from https://navltd.com/insights/ccpc/barometer-09-2020/ (please note: Brian Gallant is the CEO of the Canadian Centre for the Purpose of the Corporation)