Five things Canada’s social purpose ecosystem needs right now to grow
Why It Matters
As Canada is juggling a number of urgent environmental and social crises, the need for organizations to consider their impact on the world is more important than ever. Social purpose leaders are pushing for businesses to bring their purpose to life by collaborating across sectors to create an ecosystem for a greener and more inclusive economy.
This story is in partnership with the Social Purpose Institute at United Way BC
The way businesses operate is changing.
The concept of shareholder primacy — that the sole focus of business is to generate profits for shareholders — is under attack. Businesses are rethinking why they exist and are considering their greater impact on the world now more than ever.
With multiple crises impacting Canada including COVID-19 — like the opioid crisis, rising inequality, climate change, growing recognition of systemic racism, and the housing crisis — it’s become crucial for businesses to feed the economy in a way which nourishes society, rather than deplete it further.
First, what exactly is a social purpose business? It’s defined as a business whose reason for existing is to create a better world. These businesses provide benefits to societ
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