A few years ago, all the developed countries in the world -- the wealthier ones -- and all of the charities together donated about 200 billion dollars to developing countries in the world -- the ones that bear most of the burden, the heaviest burden of the world's biggest problems: poverty, hunger, climate change and inequality. That same year, businesses invested in those same countries 3.7 trillion dollars.
Prije nekoliko godina, sve razvijene zemlje u svijetu - one bogatije - i svi dobrotvori zajedno donirali su oko 200 milijardi dolara zemljama u razvoju širom svijeta. Onima koje nose teret, najteži teret najvećih svjetskih problema: siromaštvo, glad, klimatske promjene i nejednakost. Iste godine, poslovni ljudi su u te iste zemlje investirali 3,7 bilijardi dolara.
Now, I get to travel a lot in my work and I'm privileged to see the amazing things that NGOs and some governments are doing with some of that 200 billion dollars: helping malnourished children or families that don't have access to clean water, children who wouldn't be educated otherwise. But it's not enough because the biggest problems in our world need trillions not just billions. So if we're going to make lasting and significant progress in the big challenges in our world, we need business, both the companies and the investors, to drive the solutions.
Zbog posla puno putujem i privilegirana sam jer mogu vidjeti prekrasne stvari koje NVO-i i neke vlade rade s dijelom tih 200 milijardi dolara: pomažu pothranjenoj djeci ili obiteljima koje nemaju pristup pitkoj vodi, djeci koja bi ostala bez školovanja. No, to nije dovoljno jer najveći problemi našeg svijeta zahtijevaju bilijarde, a ne samo milijarde. Pa, ako želimo stvoriti trajni i značajni napredak u najvećim izazovima našeg svijeta, trebamo poslovni svijet, i poduzeća i ulagače, koji će donijeti rješenja.
So let's talk about what business should do. And when I say that, you probably think that I'm going to talk about corporate philanthropy or corporate social responsibility. CSR is the norm today, and it's very useful. It provides a route for corporate generosity and that generosity is important to many corporations' employees and customers. But you know what? It's just not big enough, or strong enough, or durable enough to drive solutions to the biggest problems in our world today because it's incremental cost. Even when business is booming, CSR just isn't designed to scale. And then of course in a downturn, it's one of the first programs to be cut. So no, CSR -- corporate social responsibility -- isn't the answer, but TSI -- total societal impact, is.
Razgovarajmo o tome što bi poslovni svijet trebao učiniti. I kad to kažem, vjerojatno mislite da ću govoriti o donacijama poduzeća ili društveno odgovornom poslovanju. Danas je društveno odgovorno poslovanje standard ponašanja i vrlo je korisno. Pruža smjer velikodušnim poduzećima, a ta je velikodušnost važna za mnoge njihove radnike i klijente. Ali znate što? To nije dovoljno veliko ili dovoljno jako, ili dovoljno trajno da bi donijelo rješenja najvećih problema današnjeg svijeta, jer to su dodatni troškovi. Čak i kad poslovanje raste, nije zamišljeno da se povećaju izdaci za društveno odgovorno poslovanje. A kad se pojave problemi, to je jedna od prvih aktivnosti od koje se odustaje. Dakle ne, DOP -- društveno odgovorno poslovanje -- nije odgovor, ali UDU -- ukupni društveni utjecaj, jest.
TSI is the sum of all of the ways business can affect society by doing the real work: thinking about their supply chains, working on their product design and manufacturing processes and their distribution. The real work of business, when done with innovation, can actually create core business benefits for the company and it can solve the meaningful problems in our world today.
UDU je zbir svih načina na koji poslovni svijet može utjecati na društvo radeći pravi posao: razmišljajući odakle nabavljaju robu, osmišljajući proizvode i proizvodne procese te načine distribucije proizvoda. Na taj način poduzeća, kad završe s inovacijom, mogu stvoriti pogodnosti za temeljno poslovanje i mogu riješiti važne probleme današnjeg svijeta.
So what does TSI look like? Focusing on TSI means incorporating social and environmental considerations. And you know what? It's something that isn't completely new. It's been thought about for a while. But the hard part is that corporations almost exclusively still think about something called TSR: total shareholder returns. But TSI -- total societal impact -- needs to stand alongside TSR as an important and valid driver of corporate strategy and corporate decision-making. And we've got the data to show you why and how.
Pa kako UDU uopće izgleda? Usmjerenost na UDU znači razmatrati društveni i okolišni utjecaj. I znate što? To nije ništa novo. O tome se razmišlja već neko vrijeme. Problem je što poduzeća gotovo isključivo razmišljaju o nečem što se zove UPD: ukupni prinos dioničarima. Ali o UDU-u -- ukupnom društvenom utjecaju -- treba razmišljati istovremeno kad i o UPD-u jer je UDU važan i vrijedan pokretač strategije poduzeća i donošenja odluka u njemu. Imamo podatke koji nam pokazuju zašto i kako.
Some companies are already making this happen. They're beginning to make it happen. So let me tell you the story about Mars. Mars is the sixth-largest private company in the United States. If you're like me, they make some important products, like coffee and chocolate. So not surprisingly, one of their most important ingredients is cocoa. And some of their competitors are actually really worried about the sustainability and the availability of cocoa supplies. But not Mars. They're confident in the stable supply of that crop for the long term. And why is that? It's because they partner with NGOs around the world that are working with small shareholder farmers. And those certification agency's NGOs are working to help farmers improve crop yields, they're making sure that they get a fair, premium, livable wage and they're helping them address any human rights potential issues in supply chains, and they're helping minimize the effects on the environment, like deforestation. Mars is on a path to 100 percent certified cocoa, so this is a good program for farming communities, it's a good program for the environment, and it's a good program for Mars, who has solved a significant risk in their supply chain.
Neka poduzeća već su na tom putu. Neka su započela s time. Ispričat ću vam priču o Marsu. Mars je šesto najveće privatno poduzeće u SAD-u. Ako ste poput mene, oni proizvode neke zaista važne proizvode, poput kave i čokolade. Pa je, gle iznenađenja, jedan od najvažnijih sastojaka njihovih proizvoda kakao. Neki od njihovih konkurenata su zaista zabrinuti za održivost i dostupnost kakao sirovine. Ali ne i Mars. Oni su uvjereni u dugoročnu stabilnost i dostupnost te sirovine. Zašto je to tako? Zato što širom svijeta surađuju s nevladinim organizacijama koje rade s vlasnicima malih farmi. Te nevladine organizacije rade kako bi pomogle farmerima povećati prinose žetve, osiguravaju im pravičnu i dobru naknadu od koje mogu živjeti i pomažu im rješavati bilo koja pitanja ljudskih prava koja se mogu dogoditi u lancu opskrbe, pomažu im umanjiti utjecaj na okoliš, kao što je krčenje šuma. Mars je na putu do proizvodnje 100% temeljene na ovako proizvedenom kakau pa je to dobar program za zajednice proizvođača, to je dobar program za okoliš, a dobar je i za Mars, koji je riješio značajan rizik u lancu opskrbe.
But now let's get to the data, because it's actually really awesome. And let me explain exactly what the data points I'm going to talk about are. When analysts and financial people look at companies, they think about a lot of different statistics. I want to talk about two of the most important ones. I'm going to talk about the overall value of a company -- its valuation -- and I'm going to talk about its margin. Basically the difference between all of its earnings and all of its costs.
Vratimo se podacima jer su oni zaista izvrsni. Objasnit ću vam što znače podaci o kojima ću govoriti. Kad analitičari i financijaši promatraju neko poduzeće, usmjereni su na puno statističkih podataka. Ja želim razgovarati o dva najvažnija. Pričat ću vam o ukupnoj vrijednosti poduzeća, njegovoj tržišnoj vrijednosti na burzi i govorit ću o njegovoj zaradi. To je, zapravo, razlika između svih njegovih zarada i svih njegovih troškova.
So in our study, we looked at oil and gas companies, and the oil and gas companies that are performing most strongly on TSI -- total societal impact -- see a 19 percent premium on their valuation. 19 percent. When they do really well on things like minimizing the impact of their company on the environment and water, and when they have very strong occupational health and safety programs. And when they also add in strong employee training programs, they get a 3.4 percentage point premium on their margins.
U našem istraživanju proučavali smo naftna i plinska poduzeća te smo ustanovili da ona od njih koja imaju visok UDU -- ukupni društveni utjecaj -- ostvaruju 19% veću tržišnu vrijednost. 19 posto. Kad rade zaista dobro na stvarima kao što su smanjenje utjecaja njihovog poduzeća na okoliš i vodu, i kad imaju čvrste programe sigurnosti na poslu i zaštite zdravlja radnika, te kad tome dodaju opsežne programe obuke za radnike, zarada im se povećava za 3,4 postotna boda.
But what about other industries? Biopharmaceutical companies that are the strongest performers on TSI see a 12 percent premium on their valuation. And then if they're best at expanded access to medicines -- making medicines available for the people who need them -- they see a 6.7 percentage point premium on their gross margins.
Što je s drugim industrijama? Biofarmaceutska poduzeća koja imaju najveće rezultate na UDU-u, ostvaruju 12% veću tržišnu vrijednost. A ako su izvrsni u dostupnosti lijekova -- ako su njihovi lijekovi dostupni ljudima koji ih trebaju -- ostvaruju i 6,7 postotnih bodova veću zaradu.
For the retail banks that are strongest on TSI, they see a three percentage point premium on their valuation, and then for those that differentially provide financial inclusion -- access to financial products for people who need it -- they see a 0.5 percentage point premium in their net income margin. Now, these numbers for banks may not seem very big, but in highly competitive industries, even really small differences in margin matter a lot.
Banke koje rade s građanstvom i imaju visok rezultat UDU-a, ostvaruju 3 postotna boda veću tržišnu vrijednost, a onima koje u svoju ponudu financijskih usluga uključe i one namijenjene ljudima koji ih trebaju -- zarada se povećava za 0,5 postotnih bodova. Ove brojke povezane s bankama se mogu činiti malene, ali u vrlo konkurentskim industrijama čak i zaista mala razlika u zaradi znači puno.
Now, what about those consumer goods companies -- the ones who make those products we love like coffee and chocolate? Consumer goods companies that perform best on total societal impact see an 11 percent valuation premium. And then if they do those smart things with their supply chain -- inclusive and responsibly sourcing their product -- they see a 4.8 percentage point premium on their gross margins. These numbers are significant. We've long known that things like fundamental financials, growth rates and financial risks are key drivers of valuation, but this rigorous analysis shows that social and environmental factors -- total societal impact measures -- are also linked to valuations and margins. Wow. All else equal -- we didn't confuse the analysis with anything. All else being equal, companies that perform strongly on social and environmental areas achieve higher margins and higher valuations.
Što je s proizvođačima robe široke potrošnje -- onima koji stvaraju proizvode koje volimo, poput kave ili čokolade? Proizvođači koji imaju najbolje rezultate ukupnog društvenog utjecaja ostvaruju 11% veću tržišnu vrijednost. A ako ostvare neke pametne poteze unutar svog lanca opskrbe -- uključive i odgovorne izvore sirovina za svoje proizvode -- onda ostvaruju 4,8 postotnih bodova veću zaradu. Ovi brojevi su značajni. Dugo smo znali da su stvari poput osnovnih financijskih pokazatelja, stopa rasta i financijskih rizika ključni poticaj tržišne vrijednosti poduzeća, ali ova neumoljiva analiza pokazuje da su društveni i okolišni čimbenici -- mjere ukupnog društvenog utjecaja -- također povezani s tržišnom vrijednošću i zaradom. Da! Sve je ostalo nepromijenjeno -- nismo pomiješali stvari tijekom analize. Ako su drugi parametri ostali isti, poduzeća koja su jako usmjerena na područja društva i okoliša, ostvaruju veću zaradu i veću tržišnu vrijednost.
Now, I do understand that companies are under a lot of short-term earnings pressures. But fortunately, the investors who create some of this pressure are actually more and more themselves starting to think longer-term and starting to think with this TSI lens. In our conversations and surveys with investors, 75 percent of them say they expect to see improved revenues and improved operating efficiency for companies that are thinking with a TSI lens. And they're actually starting to incorporate this in their own investing behavior. Last year, 23 trillion in global assets were in the category of socially responsible investing. Now, that's five billion over just the last two years. And it represents a quarter of the total global assets managed in the world.
Ja razumijem da su poduzeća pod snažnim pritiskom ostvarenja kratkoročnih rezultata. No, srećom, neki ulagači koji stvaraju taj pritisak i sami sve više i više počinju misliti dugoročno i gledaju kroz prizmu UDU-a. U našim razgovorima i istraživanjima s ulagačima, 75% njih očekuje poboljšanu zaradu i operativnu učinkovitost poduzećima koja razmišljaju kroz prizmu UDU-a. I, zapravo, počinju je uključivati u vlastito ulagačko ponašanje. Prošle godine 23 bilijarde imovine u svijetu je bilo u kategoriji društveno odgovornog ulaganja. Samo u prošle dvije godine to iznosi 5 milijardi. I predstavlja četvrtinu ukupne svjetske imovine kojom se trguje.
I know that some of you may be cringing a little bit right now. Because in my decades of strategy consulting with businesses and NGOs and governments around the world, I find that many businesspeople are hesitant to talk or even sometimes think about the business benefits of doing good. They somehow think it's going to negate the value of the benefits they're creating for society. Or that they'll be perceived as heartless or even mercenary. But we really do need to think differently. We need to think differently because the only way we're going to make substantial progress on the challenging problems of our time is for business to drive the solutions.
Znam da su neki od vas sad malo sumnjičavi. Tijekom desetljeća mog strateškog savjetovanja s poduzećima, NVO-ima i vladama širom svijeta, susrela sam mnoge poslovne ljude koji se ustručavaju razgovarati ili čak razmišljati o poslovnim pogodnostima koje donosi pomaganje drugima. Oni nekako razmišljaju da će to poništiti vrijednost koristima koje stvaraju za društvo. Ili da će ih se smatrati bezdušnima ili čak plaćenicima. Ali mi zaista trebamo razmišljati drugačije. Trebamo razmišljati drugačije jer je jedini način na koji ćemo postići značajan napredak s izazovnim problemima našeg vremena da poslovni svijet donese rješenja.
The job of business is to meet customer needs and to do so profitably. They need to to survive. So one of the best ways for businesses to help ensure their own growth, their own longevity, is to meet some of the hardest challenges in our society and to do so profitably. And when they do that innovatively, when they do that ethically, responsibly, incredibly, they should be proud.
Posao je poduzeća da zadovolje potrebe klijenata i da to postignu uz profit. Jer moraju preživjeti. Jedan od najboljih načina da poduzeća potaknu vlastiti rast, ostvare dugovječnost, je da se suoče s nekim od najtežih izazova našeg društva i pritom ostvare profit. I kad to rade inovativno, kad to rade etično, odgovorno, nevjerojatno, trebali bi biti ponosni.
But if you still aren't sure about this, let's talk about a few more examples. What if you're a technology company and you're trying to grow your platform and you're trying to grow your customers? Like, Airbnb. Airbnb has a portfolio of total societal impact activities. They're all spot-on their core business. In one initiative, they're helping enable their community to provide housing for free to those in disaster: crisis survivors and relief workers. In another effort on their part, they're actually helping and working with NGOs to ensure that people can provide housing for free for refugees. Now, what I love about this program is that I don't think most people would've figured out how to express their generosity and open their homes for those in such dire need -- certainly not so quickly or so easily or efficiently -- without this innovation by Airbnb. But at the same time, this is core to their corporate strategy and core to their growth because they grow by increasing the number of hosts and guests using their platform. But if they'd only been thinking exclusively about the return side of things, I'm not sure they would have ever figured out this route to growth, because they're not charging transaction fees. So it's a pretty exciting way, when they were thinking about how to bring their capabilities to a need in society and at the same time drive their own growth.
I ako još niste sigurni po tom pitanju, evo još nekoliko primjera. Što ako ste tehnološko poduzeće i želite rast vaše platforme, i želite povećati broj klijenata? Poput Airbnba. Airbnb ima raspon aktivnosti s ukupnim društvenim utjecajem. I oni su svi usmjereni na njihovo temeljno poslovanje. U jednoj inicijativi pomažu omogućiti zajednici osigurati besplatan smještaj za ljude tijekom katastrofa: kako preživjele tako i spasitelje. U njihovoj drugoj inicijativi pomažu i rade s NVO-ima kako bi osigurali besplatno stanovanje za izbjeglice. Ono što volim u tom programu je što mislim da mnogi ljudi ne znaju kako izraziti svoju velikodušnost i otvoriti svoje domove onima koji to zaista trebaju -- sigurno ne tako brzo, jednostavno ili djelotvorno -- bez te Airbnb inovacije. A u isto vrijeme to je u temelju njihove poslovne strategije i u temelju njihovog rasta, jer oni rastu povećavajući broj domaćina i gostiju koji koriste njihovu platformu. No, kad bi oni isključivo mislili o tome što će dobiti zauzvrat, mislim da ne bi nikad pronašli način za svoj rast jer ne naplaćuju naknade za transakcije. To je prilično uzbudljiv put kad razmišljaju kako da koriste svoje mogućnosti za pomoć društvu, a u isto vrijeme potiču vlastiti rast.
But what if you're trying to find new customer segments? Let's move to South Africa, and let's talk about Standard Bank. In South Africa, the government has a regulation that requires all banks to donate 0.2 percent of their profits to small and medium black-owned enterprises. And many banks just donate this to the entrepreneurs, but Standard Bank thought creatively. And what they did is they took those funds and they invested them in an independent trust, and they used that trust to fund loans to these black entrepreneurs. This is a highly leveraged model. They can support a lot more entrepreneurs with capital, and because their success is completely intertwined with the success of the entrepreneurs, they're actually also using the fund to provide technical assistance. More entrepreneurs supported, more people and communities being lifted out of poverty. And it's successful for Standard Bank. So successful that they're actually working on expanding this program to other areas in their portfolio.
Što ako pokušavate pronaći nove tržišne segmente? Prijeđimo u Južnoafričku Republiku i pričajmo o Standard Bank. U Južnoafričkoj Republici vlada je uvela propis koji zahtijeva od banaka da doniraju 0,2% profita malim i srednjim poduzećima čiji su vlasnici crnci. I mnoge banke samo doniraju taj novac poduzetnicima, no Standard Bank razmišlja kreativno. Oni prikupljena sredstva investiraju u jedan nezavisni fond i koriste taj fond za kreditiranje tih crnih poduzetnika. To je iznimno moćan model. Mogu podržati puno veći broj poduzetnika, a kako je uspjeh banke povezan s uspjehom poduzetnika, koriste taj fond za davanje tehničke podrške. Što veći broj poduzetnika dobiva podršku, to je veći broj ljudi i zajednica koji su se spasili siromaštva. To je uspješan program Standard Banka. Toliko je uspješan da intenzivno rade na njegovom proširenju u ostale njihove proizvode.
It's not like we haven't been trying to solve the problems in our world for a long time. We have, and they're still here. We're making progress, but it's not far enough, or fast enough, or universal enough. We need to flip our thinking. We need to have business -- both companies and investors -- bring creative, innovative corporate strategy and capital to solving the biggest problems in our world. And when they do that innovatively, and when they do that with all of their thinking and all of their strategy and all of their capital, and they're creating both total shareholder returns and total societal impact, we know that we will solve those problems, both profitably and generously.
Možda se čini da dugo nismo pokušali rješavati probleme našeg svijeta. Ali jesmo i još uvijek pokušavamo. I postižemo napredak. Ali to nije dovoljno, ili dovoljno brzo ili svima prihvatljivo. Moramo promijeniti način razmišljanja. Poslovni svijet -- kako poduzeća, tako i ulagači -- moraju donijeti kreativne, inovativne poslovne strategije i kapital za rješavanje najvećih problema našeg svijeta. I kad će to raditi inovativno i kad će to učiniti dijelom njihovih strategija i raditi punim angažmanom te svim njihovim kapitalom, istovremeno će ostvariti povrat ulagačima i ukupni društveni utjecaj, znat ćemo da ćemo riješiti te probleme jednako profitabilno i velikodušno.
Thank you.
Hvala vam.
(Applause)
(Pljesak)