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The COVID-19 crisis has exposed many fundamental aspects of our society. The world needs to transcend the challenges laid bare by the crisis. There is a clear need to move beyond today’s polarization to future guided by partnership and collaboration to create a better and fairer world. How can we better link wealth and health?
The expert panel representing public, private and policy sectors as well as academic and civil society will explain the link between wealth and health, discuss the growing realization of healthcare spending as driver of wealth rather than cost item and explore the critical role of public-private partnerships in shaping the future.Visit this Global Solution Hub
There is growing consensus that shareholder primacy has been a source of disconnect between the objectives of most businesses and the common good. Moreover, with pervasive tax evasion and growing concentration in most markets, the power of corporations and of corporate leaders is seen as a threat to sound governance and social cohesion, contributing to voters’ widespread feeling of disenfranchisement that pushes them toward populist demagogues. Many corporations now recognize the need to reaffirm their responsibility to workers, communities and the environment. New statements of purpose, as well as new corporate forms, emerge to address this crisis. This panel gathers pioneers from the business world and civil society to discuss what businesses are already doing to foster the recoupling of business practice and the common good, and how new forms of cooperation between businesses and civil society can help to scale-up and mainstream this recoupling.Visit this Global Solution Hub
Global Solutions Hub in cooperation with the Value Balancing Alliance
The value balancing alliance e.V. (VBA) is a non-profit organization founded in June 2019 by global companies to develop and promote a methodology to assess company’s impacts on nature, society, and the economy in monetary terms along the value chain. In addition, the Alliance develops a concept how this information can be reflected in the profit & loss account and the balance sheet along the traditional financial statements. The Alliance has four primary objectives: a) to standardize a methodology to assess the broader enterprise value based on multi-capital accounting and impact valuation; b) to design a disclosure frame for comparability; c) to pilot the methodology in business steering; d) to make outcomes publicly available. The aim is to provide a comprehensive set of robust and assured data on natural, social and human capital for stakeholders to improve decision-making, business steering and performance evaluation. The Alliance is supported, amongst others, by the four largest professional services networks – Deloitte, EY, KPMG, PwC – and by the OECD and the World Bank as a policy advisor. In February, the Alliance received a grant by the EU Commission to develop green accounting principles for the EU to support the implementation of the Green Deal.
The session at the Global Solutions Summit will introduce the methodology for company evaluation developed by the Value Balancing Alliance and will discuss the way forward for more holistic company evaluation. It will focus on latest developments in public and private accounting, standardizing methodologies and making them comparable, as well as on solutions to generate traction amongst key decision-makers in business and politics.Visit this Global Solution Hub
In the context of recent dynamics propelled by globalization and technological developments, the trust in political institutions has diminished in many parts of the world and led to a surge of parties selfportraying as anti-establishment, often promoting nativism and xenophobia. This trend undermines the support for multilateralism and effective global governance and propagates the idea that relationships between nation states are a zero-sum-game. To revitalise multilateralism and global solidarity, the benefits of globalization and international cooperation must be made more visible and more accessible to the general public. The purpose of the session is to discuss the foundations of a social cohesion at the global level; and what the G20 can do to foster social cohesion from the local to the global level. Social cohesion is the capacity of a community to express mutual solidarity and traditionally, social cohesion is considered to be rooted primarily at the national level. How widespread is the notion of global citizenship, and to what extent is it compatible with other notions of citizenship? Could policies such as a global health fund or a global basic income and increased international cooperation on tax matters buttress the idea of global citizenship? How can businesses foster and valorize global citizenship and global solidarity?Visit this Global Solution Hub