Ms Jeanne McDonagh:

Not at all.

Conscious capitalism, benefit corporation, B Corp, and the corporate sustainability reporting directive all lead to purpose-led companies. The findings from the 2023 Edelman Trust Barometer Ireland reveal that CEOs are expected to act on major societal challenges, with a significant majority of Irish respondents calling on them to take a stand on climate change, the wealth gap, immigration, discrimination and the treatment of employees. Business has the capacity to drive diversity, equality and integration initiatives where society has lagged. We know that consumers pay close attention to a brand’s social justice efforts before purchasing a product. They want to know what the brands they support are actually doing to address social issues, and this is rising.

It is also beneficial for existing employees who thrive in a diverse work environment. Many people coming into the workplace expect their companies to mirror their values and they will be attracted to those who do this work for societal good. A company’s purpose and work in these areas needs to be measured and goals need to be set to produce clear outcomes that can be built on year on year. It needs to be CEO-led and encompass the whole of the business, not just the areas of diversity, equality and inclusion, DEI, marketing or HR.

What is the ask? We need to look at the legacy companies wish to leave. Employees, consumers, suppliers and the wider community will remember those who walked away from social issues and those who remained true. This requires long-term commitment, not just a trinket for awards to be put back on the shelf or, worse, cut for short-term budget reasons. It is a long-term approach. Companies with authentic values will intensify this work when it is most needed and embed it in their every fibre. It will guide all decision-making. It is about taking a stand on issues and putting everything behind it and being brave in every aspect of one's company, from marketing to recruitment to driving change which everyone will benefit from.

This also means getting informed on issues and understanding the underlying factors that have come forth, such as housing, our own migration history, racism and the rise of the far right. At the Open Doors Initiative, we want corporate social justice to be the benchmark for all companies we work with and their activities. We want political and business leadership in this area, both in Ireland and beyond.