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Future of the Corporation Purp...
Invitation - Future of the Cor...
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Good afternoon,

Nearly a year on from the publication of the Principles for Purposeful Business and with the resilience of business and society tested to the limit by the COVID-19 pandemic, our assumptions around the roles of business, investors and government are shifting. Thank you for supporting the Future of the Corporation - we are greatly encouraged that now, more than ever before, the business community continues to work together towards enacting purpose.

UK business leaders support enacting purpose in business

A new survey carried out by YouGov for the British Academy's Future of the Corporation programme reveals that many business leaders support steps to promote purpose in business. Of those surveyed, 44% agreed with the British Academy's definition that the purpose of business was to "find profitable solutions to the problems of people and planet, and not to profit from creating problems for either". The same proportion, 44%, believe that the purpose of business is to maximise returns for shareholders within the confines of the law. The full report includes all the data.

Announcing the second Future of the Corporation Purpose Summit: 1, 2 and 4 February 2021

In June, the first of our series of Purpose Summits demonstrated the appetite in big business to embrace purposeful business and the progress being made already. We are pleased to announce that the second Summit - looking at Purposeful Business for an Inclusive and Sustainable Economy - will happen in February 2021. Discussions will highlight the need for leadership among policymakers to match that of businesses and investors. Once again there will be a great line-up of speakers to bring a range of perspectives on this and we will be sending an invitation to register for the event in the coming weeks.

Register now

Speakers'' highlights from our first Purpose Summit
Meanwhile, if you missed the first Summit, you can watch the speakers'' highlights:

Session 1 - How is business adopting purpose around the world?
Session 2 - What is the role of stakeholders in purposeful business?
Session 3 - How can technological change serve society through purposeful business?
Session 4 - How can investors and owners support purposeful business?
Session 5 - What can we learn from crises, past and present, of solving the problems of people and planet?

Future of the Corporation in the news

The World Economic Forum cites Principles for Purposeful Business, our 2019 report on a new framework for the corporation, as an important source for its recent report on Measuring Stakeholder Capitalism.

In an interview for Wired magazine, US politician Al Gore cites the British Academy's new definition of the purpose of a corporation as evidence that shareholder primacy has been 'dethroned'.

It is 50 years since the New York Times Magazine published Milton Freidman's essay titled, 'The Social Responsibility of Business is to Increase its Profits'. Now, his shareholder doctrine is redundant, argue Professor Colin Mayer FBA, Leo E. Strine and Professor Jaap Winter in Fortune magazine. Drawing on the Future of the Corporation programme, they expand on their argument in another piece on the University of Chicago blog, ProMarket.

The British Academy's survey with YouGov, highlighting the appetite for a new definition of purpose among UK businesses, was covered by Pioneers Post, Board Agenda and London Loves Business.

Steve Coulter asks, "Will purpose ever replace shareholder value maximisation as the corporate governance lodestar?" drawing on the Future of the Corporation's proposals in a piece for the LSE Business Review blog.

Top1000funds.com covers a FIS 2020 Digital panel discussion on corporate purpose featuring Professor Colin Mayer FBA.

Read reflections from the first Future of the Corporation Purpose Summit in June in this blog post by the Crown Estate.

Thank you once again for your interest and support.

The Future of the Corporation Team

Copyright ? 2020 The British Academy, All rights reserved.
You are receiving this email because you have consented to receiving updates on our work or have opted in through our sign up form.

Our mailing address is:

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United Kingdom

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Invitation - Future of the Corporation Purpose Summit
"Purposeful Business in Times of Crisis"

22-24 June 2020

Less than a week to go before the Purpose Summit!

If you have registered already, we will be sending the joining details shortly. If not, you can still sign-up here.

With the resilience of business and society tested to the limit by the COVID-19 pandemic, our assumptions around the roles of business, investors and government are shifting.

The British Academy's Future of the Corporation review into the role of business in society brought to the fore a new definition of the purpose of business - "to profitably solve the problems of people and planet, and not profit from creating problems". Eight principles supporting this vision were published in our November 2019 report, Principles for Purposeful Business, which outlined necessary reforms to company law, corporate governance, finance, measurement, and the role of regulators.

This definition and the associated principles now provide a robust framework for reshaping business policy and practice in response to the unprecedented challenges posed by the COVID-19 pandemic to public health, the economy and the wellbeing of our societies.

The Purpose Summit will provide a platform for policymakers, business leaders, investors and civil society to share ideas to transform business behaviour at this pivotal time. Our work, along with many others, has shown that there is a growing appetite in business for a purpose-driven approach. But what does this mean? And in times of crisis - whether the immediate COVID-19 pandemic, the related recession, or the climate crisis - how can purposeful business contribute to preventing, reacting to and rebuilding from crises?

The summit takes place virtually from 22 to 24 June 2020, in five parts.

Registration is via a single form in which you can indicate your interest in each session. Connection details will be provided to registered participants.

Session 1: How is business adopting purpose around the world?
Monday 22 June 2020, 14.00-15.00 BST

Chair: Hetan Shah, CEO, The British Academy
Professor Colin Mayer, Academic Lead, Future of the Corporation
Stefan Oschmann, Chairman of the Executive Board and CEO of Merck
Ashley Grice, CEO, BrightHouse Consulting, a Boston Consulting Group company
Alan Jope, CEO, Unilever
Anneliese Dodds MP, Shadow Chancellor of the Exchequer

Session 2: What is the role of stakeholders in purposeful business?
Tuesday 23 June 2020, 14.00-15.00 BST

Chair: Dr Victoria Hurth, Convenor of ISO37000 - a global standard on ''Guidance for the Governance of Organisations'
Professor Colin Mayer, Academic Lead, Future of the Corporation
Frances O''Grady, General Secretary, Trades Union Congress
Dan Labbad, CEO, Crown Estate
Jim Snabe, Chairman, Siemens and M?rsk

Session 3: How can technological change serve society through purposeful business?
Tuesday 23 June 2020, 17.00-18.00 BST

Professor Colin Mayer, Academic Lead, Future of the Corporation
Satya Nadella, CEO, Microsoft
Greg Clark MP, Chair of the Science and Technology Committee
Professor Ngaire Woods, Dean of the Blavatnik School of Government and Professor of Global Economic Governance at Oxford University

Session 4: How can investors and owners support purposeful business?
Wednesday 24 June 2020, 09.00-10.00 BST

Professor Colin Mayer, Academic Lead, Future of the Corporation
Douglas Lamont, CEO, Innocent Drinks
Hiro Mizuno, until recently Chief Investment Officer of the Japan Government Pension Investment Fund
Phil Thomson, President, Global Affairs at GSK
Deb Oxley, Chief Executive, Employee Ownership Association

Session 5: Shifting the dial on purposeful business: what can we learn from crises, past and present, in solving the problems of people and planet?
Wednesday 24 June 2020, 14.30-16.00 BST

Chair: Roula Khalaf, Editor of the Financial Times
Professor Sir David Cannadine, President of the British Academy
Professor Colin Mayer, Academic Lead, Future of the Corporation
Mark Carney, UN Special Envoy on Climate Action and Finance and until recently Governor of the Bank of England
Alistair Phillips-Davies, CEO, SSE
Darren Jones MP, Chair of the Business, Energy, and Industrial Strategy Committee
Professor Ngaire Woods, Dean of the Blavatnik School of Government and Professor of Global Economic Governance at Oxford University
Dan Labbad, CEO, Crown Estate

If you have any questions, please contact Tara Vernhes: t.vernhes@thebritishacademy.ac.uk
#futureofthecorporation
#purposefulbusiness
@BritishAcademy_

REGISTER YOUR ATTENDANCE

Copyright ? 2020 The British Academy, All rights reserved.
You are receiving this email because you have consented to receiving updates on our work or have opted in through our sign up form.

Our mailing address is:

The British Academy

10-11 Carlton House Terrace

London, SW1Y 5AH

United Kingdom

Add us to your address book

Please visit our website for more information about our privacy practices.

Want to change how you receive these emails?
You can update your preferences or unsubscribe from this list.

View this email in your browser

Invitation - Future of the Corporation Purpose Summit
"Purposeful Business in Times of Crisis"

22-24 June 2020

With the resilience of business and society tested to the limit by the COVID-19 pandemic, our assumptions around the roles of business, investors and government are shifting.

The British Academy's Future of the Corporation review into the role of business in society brought to the fore a new definition of the purpose of business - "to profitably solve the problems of people and planet, and not profit from creating problems". Eight principles supporting this vision were published in our November 2019 report, Principles for Purposeful Business, which outlined necessary reforms to company law, corporate governance, finance, measurement, and the role of regulators.

This definition and the associated principles now provide a robust framework for reshaping business policy and practice in response to the unprecedented challenges posed by the COVID-19 pandemic to public health, the economy and the wellbeing of our societies.

The Purpose Summit will provide a platform for policymakers, business leaders, investors and civil society to share ideas to transform business behaviour at this pivotal time. Our work, along with many others, has shown that there is a growing appetite in business for a purpose-driven approach. But what does this mean? And in times of crisis - whether the immediate COVID-19 pandemic, the related recession, or the climate crisis - how can purposeful business contribute to preventing, reacting to and rebuilding from crises?

The summit takes places virtually from 22 to 24 June 2020, in five parts.

Registration is via a single form in which you can indicate your interest in each session. Connection details will be provided to registered participants.

Session 1: How is business adopting purpose around the world?
Monday 22 June 2020, 14.00-15.00 BST

Chair: Hetan Shah, CEO, The British Academy
Professor Colin Mayer, Academic Lead, Future of the Corporation
Stefan Oschmann, Chairman of the Executive Board and CEO of Merck
Ashley Grice, CEO, BrightHouse Consulting, a Boston Consulting Group company
Alan Jope, CEO, Unilever

Session 2: What is the role of stakeholders in purposeful business?
Tuesday 23 June 2020, 14.00-15.00 BST

Chair: Victoria Hurth, Convenor of ISO37000 - a global standard on ''Guidance for the Governance of Organisations'
Professor Colin Mayer, Academic Lead, Future of the Corporation
Frances O''Grady, General Secretary, Trades Union Congress
Dan Labbad, CEO, Crown Estate
Jim Snabe, Chairman, Siemens and M?rsk

Session 3: How can technological change serve society through purposeful business?
Tuesday 23 June 2020, 17.00-18.00 BST

Professor Colin Mayer, Academic Lead, Future of the Corporation
Satya Nadella, CEO, Microsoft
Greg Clark MP, Chair of the Science and Technology Committee
Professor Ngaire Woods, Dean of the Blavatnik School of Government and Professor of Global Economic Governance at Oxford University

Session 4: How can investors and owners support purposeful business?
Wednesday 24 June 2020, 09.00-10.00 BST

Professor Colin Mayer, Academic Lead, Future of the Corporation
Douglas Lamont, CEO, Innocent Drinks
Hiro Mizuno, until recently Chief Investment Officer of the Japan Government Pension Investment Fund
Phil Thompson, President, Global Affairs at GSK

Session 5: Shifting the dial on purposeful business: what can we learn from crises, past and present, in solving the problems of people and planet?
Wednesday 24 June 2020, 14.30-16.00 BST

Chair: Roula Khalaf, Editor of the Financial Times
Professor Sir David Cannadine, President of the British Academy
Professor Colin Mayer, Academic Lead, Future of the Corporation
Mark Carney, UN Special Envoy on Climate Action and Finance and until recently Governor of the Bank of England
Alistair Phillips-Davies, CEO, SSE
Darren Jones MP, Chair of the Business, Energy, and Industrial Strategy Committee

If you have any questions, please contact Tara Vernhes: t.vernhes@thebritishacademy.ac.uk
#futureofthecorporation
#purposefulbusiness
@BritishAcademy_

REGISTER YOUR ATTENDANCE

Copyright ? 2020 The British Academy, All rights reserved.
You are receiving this email because you have consented to receiving updates on our work or have opted in through our sign up form.

Our mailing address is:

The British Academy

10-11 Carlton House Terrace

London, SW1Y 5AH

United Kingdom

Add us to your address book

Please visit our website for more information about our privacy practices.

Want to change how you receive these emails?
You can update your preferences or unsubscribe from this list.

View this email in your browser

Good afternoon,

We very much hope that you are well and enjoying the summer.

As you may know, we held our first online Purpose Summit on 22-24 June 2020, which brought together policymakers, business leaders, investors and civil society to share exciting ideas to transform business practice and policy. We are incredibly grateful to all the wonderful speakers who agreed to take part and share their valuable insights.

Thank you to those who were able to attend and participate in the Q&A sessions, your input was greatly appreciated. For those who missed it, all sessions are available to watch on our website.

We are already planning our next summit which will take place in November 2020 and we will send more information as the event develops.

In the meantime, we would like to highlight some upcoming events that you might find interesting:

Reimagining the Corporation (webinar)
Organisers: Stanford University (CASBS)
Date: 12 August - 11:00 Pacific | 14:00 Eastern | 19:00 London
Speakers: Shona Brown, Colin Mayer, and Margaret O'Mara in conversation with Paul Brest.

REGISTER FOR THE WEBINAR

Disruption and Purpose - The role of business in society (webinar)
Organisers: Alix Partners
Date: 17 September - 16:00 (BST)
The widespread impact of COVID-19 has been felt across all areas of society. It has been the most significant disruption in generations. The conduct of business throughout the pandemic has been heavily scrutinised, and will be for some time to come. This is forcing business leaders to question the role of their organisation in society or its 'purpose'.

Shaping a business to meet the demands of an ever-growing group of stakeholders and to be seen as a positive force in society is being debated across the business community.

Speakers:

Professor Colin Mayer CBE FBA - Sa?d Business School (Future of the Corporation Academic Lead)
Pippa Wicks, Executive Director - John Lewis Partnership
Lorne Somerville, Head of Telecoms - CVC Capital Partners.

Topics:

The increasing complexity of the stakeholder environment for business;
the material steps businesses need to address when defining their purpose;
the challenges they will face; and
the financial and reputational gains available to a purpose-led organisation.

REGISTER FOR THE WEBINAR

Lastly, we were excited to see Al Gore mention our work in a recent interview, which we hope is more proof that this agenda is continuing to gain momentum and attention on an international stage.

"Just in the past six months, we've seen both the Business Roundtable and the British Academy make fundamental changes in their definition of the purpose of a corporation - abandoning shareholder primacy and insisting on a multi-stakeholder approach."

Once again thank you very much for your support and interest and we very much hope that you will be able to join our November Summit.

Best wishes,

The Future of the Corporation Team

Copyright ? 2020 The British Academy, All rights reserved.
You are receiving this email because you have consented to receiving updates on our work or have opted in through our sign up form.

Our mailing address is:

The British Academy

10-11 Carlton House Terrace

London, SW1Y 5AH

United Kingdom

Add us to your address book

Please visit our website for more information about our privacy practices.

Want to change how you receive these emails?
You can update your preferences or unsubscribe from this list.

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