T1 Many faces of growth T1 Many faces of growth New Zealand has allocated budget to causes “It’s time for a new capitalism – a more fair, including mental health services, reducing child poverty, supporting Maori aspirations equal and sustainable capitalism that actually and modernizing hospitals in a bid to make the country a great place to live and work. works for everyone, and where businesses don’t just take from society, but truly give back and have a positive impact.”— Marc Benioff, CEO Salesforce Benioff observed: “We can no longer wash our hands of our responsibility for what people do with our products. Yes, profits are important, but so is society. It’s time for a new capitalism – a more fair, equal and sustainable capitalism that actually works for everyone and where businesses, including tech companies, don’t just take from society but truly give back and have a positive impact.” In September 2019, the Financial Times introduced The New Agenda. “The long-term health of free enterprise capitalism will depend on delivering profit with purpose,” it stated. “Companies will come to understand that this combination serves their self-interest as well as their customers and employees. Without change, the prescription risks being far more painful.” A month later, BlackRock confirmed a global partnership with the Ellen MacArthur Foundation to launch its first circular economy fund – a powerful signal from the world’s largest asset management firm to other companies and investors. The calls are coming from both inside and outside the house – investors, employees and customers are making their voices heard. People are demanding their employers be more purposeful and ethical, or else they’ll strike or leave. Amazon staff, for example, recently staged a walk-out to show the company exactly how they feel about its failure to act on climate change. Swedish climate change activist Greta Thunberg is inspiring school children to fight for their futures. Along with 15 other young people, she recently filed a potentially world-changing complaint to the United Nations to have climate change classified as a children’s rights crisis. 11 12