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Risk and reward are major themes in this week's stories. From the risks of economic volatility and climate change to the rewards of investing in communities and finding opportunity amid crisis, business leaders face a challenging world in which to operate. The fact that business is again the most trusted institution - ahead of NGOs, government, and the media - brings its own level of risk and reward. There is certainly risk in pursuing bold actions to address global issues, but the risk of doing nothing is perhaps even greater. One thing is clear: The next 12 months will not be easy, no matter what sector or type of institution you operate within. To help you navigate the the months ahead, I asked members of the Purpose Collaborative for their advice on purpose, ESG, and leadership in 2023. I was also featured in this article on Shondaland, Find Your True Meaning in the Workplace.
The C-suite has spoken.
Several major reports released over the past two weeks explore priorities in the C-suite, from CEOs to CXOs and CCOs. Economic volatility and inflation top concerns for corporate leaders, while climate initiatives, stakeholder capitalism, and employees lead as areas of opportunity. // Deloitte: CXO Sustainability Report // PwC: 26th Annual Global CEO Survey // Page Society: The CCO's Distinct Outlook in 2023 // The Conference Board: C-Suite Outlook 2023
Who do you trust?
Each year, Edelman's Trust Barometer probes the state of trust in key institutions, including business, the media, government, and NGOs. This year's findings are dire, with Edelman saying the state of society is "deeply and dangerously polarized." Business is the only "trusted" institution, at 62%, followed by NGOs, government, and the media in that order. The latter two are perceived to drive a "cycle of distrust" built on misleading information. Business is not seen as a panacea, though: CEOs are among the least trusted institutional leaders, compared to scientists, coworkers, and neighbors/community (though respondents did have high levels of trust in their own CEOs). // Edelman: 2023 Trust Barometer
This startup is capitalizing on climate risks.
Cleverly-named insurance startup Raincoat provides payouts to customers immediately following climate disasters like hurricanes and fires. The company was created to prevent situations like the one that happened to co-founder Jonathan Gonzalez's mother, who waited more than a year for her insurance company to acknowledge (and eventually deny) damage to her home caused by Hurricane Maria. Raincoat not only hopes to expedite critical repairs--like the ones Gonzalez's mother needed to make to the wheelchair ramp at her home--but provide a more user-friendly insurance experience to customers. // FastCompany: This insurance startup pays customers instantaneously after climate disasters
How does your neighborhood score on tree equity?
A neighborhood's Tree Equity Score "indicates whether a neighborhood has enough tree cover for people to fully experience the benefits trees provide," according to conservation nonprofit American Forests. The organization is advancing its mission to achieve "full tree equity" in the US by 2030 with help from Bulleit Frontier Whiskey. Together, the distillery and American Forests have already met a goal to plant 1M trees, and are now focusing on improving tree equity in two Houston, TX communities still recovering from Hurricane Harvey. // Sustainable Brands: Bulleit Frontier Whiskey, American Forests Advancing Tree Equity in Communities Across the US