ECONOMICS/BUSINESS

This pathway includes:

Creation of commonwealth and well-being for all stakeholders and segments of society through production, labor, finance. new community-based monetary systems. social responsibility and social indicators. servant leadership and the triple bottom line.

PEACE THROUGH BUSINESS forms the segment next to Education. To create a new concept of business with its goal not primarily money-making, but attendant to a larger goal: the business and prosperity and sustainability of humanity and the planet. It is vital that business is a service to other sectors of the Eight Pathways of the life of humanity and the planet, where long-term benefits to each one is a goal.

“Real Peace will require fundamental transformations of our own thinking, our organizations, and our whole network of institutions. Because of its central place in modern society, business will be at the heart of that metamorphosis – either as part of the problem or as a force for creative change. Business has become the most powerful institution on the planet. The dominant institution in any society needs to take responsibility for the whole. But business has not had such a tradition. This is a new role, not well understood or accepted … Every decision that is made, every action that is taken, must be viewed in light of that responsibility.”

Willis Harman – former President, Institute of Noetic Sciences; Emeritus Professor, Stanford University; President, World Business Academy; Director, Pathways To Peace.

There are many examples of Peace through the pathway of Economics/Business, the following are only a few.

United Nations Global Compact

The United Nations Global Compact constitutes a call to action to investors, governments, corporates and financial institutions to build a market for mainstream investments in the Sustainable Development Goals (SDGs).

The Global Strategy is a global movement of sustainable companies and stakeholders to create the world we want.

“Businesses already have a framework in the form of the UN Guiding Principles on Business and Human Rights, and a timetable in the form of the 2030 Agenda for Sustainable Development. There is no more crucial way for businesses to contribute than to ensure respect for human rights throughout their supply chain at every step of their business operations.” – Michelle Bachelet, UN High Commissioner for Human Rights.

“The United Nations Sustainable Development Goals (SDGs) and the Paris Climate Agreement provide the most powerful common agenda the world has ever seen for achieving peace and prosperity on a healthy planet – with an essential role spelled out for business. As the world’s largest corporate sustainability initiative, it is our priority – and indeed our responsibility – to be a leading catalyst of the transformations ahead. We are devoting our capacities and global network to make it happen – based on the Ten Principles that the UN Global Compact is built upon. We must bring the full weight of the private sector to the SDGs to meet the 2030 deadline. To do so, we have shaped a new global strategy for engaging business to deliver on UN goals at unprecedented scale and impact.”

UN Global Compact, Global Strategy

Peace Within Organizations (PWO) and Peacebuilding Through Business

PTP has hosted Peace Within Organizations (PWO) and Peacebuilding Through Business meetings to consider how social responsibility is being developed through consulting, political action, personal insight, and educational influence. This also included a focus on Triple Bottom Line for the 21^st Century (TBL21). Organizations participate and share knowledge and ideas in order to become more socially responsible and harmonious with the emerging paradigms.

Using the Pathways To Peace (PTP) Peace Wheel as a model, various thought leaders who attended a series of PTP Peacebuilding symposia created a Business Peace Wheel to be used as a communication and instruction device. The 7 segments of the Business Peace Wheel are:

Purpose and Role of Business – What is the true role of business in the 21st century?
Sustainable Development – mindsets and the importance of finding ways to change them.
Social Responsibility – What are we doing for communities as well as shareholders?
Money & New Economics – What if money was designed and used to build communities and enhance human life, “all life”? What would be businesses’ role in this?
Whole System Change – Looking at things from a whole systems approach will determine what emphasis is taken and what questions will be asked.
Creative (Positive) People Practices – Explored areas of empowerment
Ethics, Principles & Values – Business is being compelled to adopt the values and principles that build a sustainable society for all stakeholders.

Triple Bottom Line for the 21st Century (TBL 21)

PTP’s “Peacebuilding Through Business” lead to a focus on the Triple Bottom Line for the 21^st Century. Most business owners are deeply aware of our planetary ecological crisis but are often lacking the resources or expertise to contribute to and benefit from economic, environmental, and social solutions. Understanding and putting into practice the fundamentals of a triple bottom line can help challenges become opportunities for strong community, meaningful employment, a healthy environment, and a prosperous local economy.

The triple bottom line provides a framework for the development and advancement of a culture of sustainability by expanding the traditional definition of business success to include the well-being of all stakeholders.

What are the three bottom lines?

Profit – Your established traditional measures of financial performance.
People – Commitment to your employees, customers, suppliers, and community.
Planet – Reduction of your carbon footprint, resource consumption, and pollution.

The idea behind TBL 21 is that if a business pays attention to all three bottom lines, and especially how they influence each other, the result is enhanced prosperity and lasting sustainability.

RELATED LINKS:

economicsandpeace.org The Institute for Economics and Peace
www.globalpeace.org/business-and-economics-peace-and-development Global Peace Foundation
www.rotary.org/en/institute-economics-and-peace Rotary International