Tackling inequality: An agenda for business action
Business Commission to Tackle Inequality, WBCSD
The planetary crisis is having profound impacts on people, and if left unchecked stands to further undermine human health, disrupt access to essential products and services, and destroy livelihoods – hitting the most vulnerable in our communities the hardest.
At the same time, the transition to a net zero carbon and nature-positive economy will only be successful if it is equitable and inclusive, and delivers opportunities for workers and communities around the world.
The Business Commission to Tackle Inequality (BCTI), a cross-sector, multi-stakeholder coalition of leaders and their organizations convened by the World Business Council for Sustainable Development (WBCSD), has published its flagship report: Tackling inequality: An agenda for business action.
This report provides new analysis into the critical role of the private sector in addressing inequality, and the powerful reasons why business must act with urgency. Recognizing that there are certain business models and practices that have contributed to widening social and economic gaps in recent decades, at this critical juncture, the BCTI outlines concrete actions that individual companies can take to ensure they are fulfilling their potential to help close these gaps and deliver enhanced outcomes for people. At a high level, these actions are:
1. Implement the UN Guiding Principles on Business and Human Rights
2. Make essential products and services more accessible and affordable
3. Create a diverse, equitable and inclusive workplace and value chain
4. Prepare people for the future of work
5. Provide safe, secure and sufficient work
6. Pay and promote living wages and incomes
7. Support and respect worker representation
8. Support effective public policy
9. Adopt responsible tax practices
10. Realize the just transition to a net zero and nature-positive economy