Equity Group CEO, Dr James Mwangi joined a league of 14 global CEOs who have committed to champion cross-sector collaboration in the creation of a purpose-first economy.
The letter signed by the participants shows their vision for a new global economy that is more equal, inclusive and sustainable. They are also looking at an economy that is more robust in the face of pandemics, climate change and many other global challenges that the world is facing.
António Guterres, the UN Secretary-General, Henrietta Fore, UNICEF Executive Director and OECD Development Co-operation Director Jorge Moreira da Silva among other people endorsed the CEOs’ open letter.
Among the CEO’s who have joined the movement are the CEO’s of International Chamber of Commerce Mastercard, Interface, Voyager, Danone, DSM, Philips, L’Oréal, Fortune Media, Mahindra, Natura & Co, Ketchum PR and Beiersdorf.
The CEO’s have combined annual revenue of over $100 billion and a combined global workforce of over 500,000. They have proposed a roadmap to “build the economic system better,” after COVID-19, rather than simply “building it back.”
While signing the letter, Dr Mwangi stated that “The current state of the world economy, as evidenced by the inequality revealed by the COVID-19 pandemic, has left business leaders with only one choice; the choice to recognize that the world system only works for a few and not the majority of the world’s population. This demonstrates that the economic and social system we have relied on is broken. We must, as a cohesive stakeholder community of leaders, address this inequality and serve humanity in a more productive and concerted way.”
According to the press statement, Equity group CEO joins other leaders in calling upon governments, corporates and the UN system to create new policies and incentives to spur sustainable and inclusive economic growth, yielding a healthy society within planetary boundaries, for generations to come.
“It is an honour to join other like-minded leaders at this trying time when we need to come together to reset and champion the structural rebuilding of the world by improving equality, financial, social, economic and digital inclusion, and people’s dignity. Business leaders have a central role to play in how the world emerges from the COVID-19 crisis. It is my hope that more leaders will sign the global call to action and join hands in creating a purpose-first economy.” Said Dr Mwangi