Earlier this month, an IPCC climate report became the talking point of many, shining a renewed light on the climate crisis, describing it as ‘code red for humanity’.
Many in the business world reacted to the report as a call to action – a resounding message that as humans, the need to come together and change the way we do things has never been greater.
Last week, Management Consultant Rachel Falzon brought the situation to bear on the business community, warning leaders that “none of our businesses is going to matter very much down the road if we don’t start reversing the damage we have caused. Yesterday.”
Echoing this sentiment, Franco Azzopardi, Chairman and CEO at Express Trailers Ltd, has shares an impassioned plea, in reaction to statements by author and inspirational speaker Simon Sinek. In a post shared to social media, Mr Sinek writes, “the capitalism that dictates our economy today is not the capitalism on which America was founded. We must continue to chip away at harmful work culture, prioritization of profit, and mistreatment of employees in order to re-establish what capitalism can be.”
Building on this, Mr Azzopardi affirms, “profit cannot come at the cost of people or the planet.” Making reference to the triple bottom line PPP – that is profit, people, and planet – he affirms that business leaders should seek the fair equilibrium.
Speaking of the importance of regulating this ideal culture with ESG reporting and scoring to even access finance, hence moving towards auditing corporate initiatives towards Environmental, Societal and Governance, he notes that this should enable the equilibrium of the three Ps.
“When part of society dominates then greed festers and the system gets derailed. Then we realise that profits cannot be maximised, but rather optimised. Only if equilibrium is sought,” he warns, adding, crucially, that we “can’t wait for the next [generation] of CEOs. It’ll be too late.”
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