Global challenges – such as climate change, inequality, and biodiversity loss – cannot be solved without the involvement of businesses. However, current systems legally and commercially pressure businesses into prioritizing profits over social or environmental concerns. As a result, businesses’ goals often conflict with societal well-being and sustainability. Voluntary actions by businesses are insufficient, as these efforts often fail when they threaten profitability. Neither businesses nor policymakers alone can fix this misalignment. A new governance framework is needed – one that allows businesses to remain profitable while supporting environmental sustainability and social equity. This framework must be both conceptually and practically developed to guide policy and create equal opportunities, integrating profit with responsibility to people and the planet. Co-created by business leaders, policymakers, and civil society, it would include new laws, regulations, incentives, and procurement rules at international, regional, and national levels. These would all be designed to reshape business behavior for a sustainable and inclusive future.        

This session is held in collaboration with the Oxford Rethinking Performance Initiative (ORP) at the University of Oxford.                                                                                                                 

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