How Can Business Partner to Drive Responsible Sourcing?

Partnerships
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I think the formula for great advocacy include: multi-stakeholders engagement, investment of resources to deep dive and understand the challenges (casues and effects) and to co-desing a proposal.

83

@Yasmina, the best internal example for CARE is MicroVest. It was started and grown with philanthropic $'s in early stages, focused on providing capital in the microcredit/SME space. Eventually though, it made sense for it to be a for profit company, with business management and a business driven board to allow it to scale (profitability). It now has $400M in AUM, providing significant capital globally for MFIs and SME lenders.

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84

Would be great to hear examples from the BFP community of where companies have been addressing both the environmental and social challenges through their sourcing practices

85

Thanks for the discussion, we’re touched on some very pertinent issues. Just to throw in another controversial topic:
There’s one issue getting a lot of airtime at the moment, it’s living income for cocoa farmers. Some of the discussion goes to raising cocoa prices, but with the laws of supply and demand this would just create unsustainable surpluses or ‘cocoa mountains’. It’s a tough one!

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Yes, and I’ve found it interesting how most companies are reticent to call out those laggards in a sector who are undermining everyone’s efforts to make progress (e.g. intensive fossil-fuel users lobbying to delay constraints on carbon use). It would be helpful for companies that are doing the right thing to come together and shame those who are profiting in the short term through inaction. It’s hard to get the tone right, but could be influential in some contexts if done appropriately.

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Thank you to everyone for joining and participating in today’s LIVE portion of this online written discussion. A special thank you to all the expert panellists for their insights.

The discussion does remain here, so if you would like to add your comments, insights or questions afterwards, we would love to see them.

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88

Thanks everyone - a great discussion!

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89

Thanks to all participants and fellow panelists for an engaging discussion! I learned about many approaches and initiatives to drive responsible sourcing. Our work is cut out for us and it’s inspiring to see so many committed, engaged individuals in companies paving a path forward.

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Thanks so much, everyone!

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91

Thank you for having WWF!:panda_face::panda_face::panda_face:

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Thank You! …