Some big U.S. grant makers and billionaire tech entrepreneurs see capitalism - the system that helped them amass huge endowments - as the cause of gaping inequality. This week, @Philanthropy provided a look at what their doing to "reimagine capitalism" 1/https://www.philanthropy.com/article/Grant-Makers-Face-Uphill/247651 …
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At the Ford Foundation, which has struggled with the tension of being both a "creature of capitalism" and a social justice organization,
@darrenwalker has pushed for an "inclusive" market in which everyone gains from a productive economy, not a narrow slice of shareholders1 reply 0 retweets 1 likeShow this thread -
to that end, Ford and other grant makers are trying to make CEO members of
@BizRoundtable accountable to their August statement of corporate purpose, which put a variety of stakeholders (workers, vendors, environment, local communities) on par with shareholders1 reply 0 retweets 1 likeShow this thread -
Ford has helped gather a coalition of business organizations called Imperative 21 to use research to make the case for running a socially-minded business and explore possible policy changes.https://www.imperative21.co/
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It's not enough to "beg, plead or applaud" business leaders to change practice, says
@bcorporation 's@JayCoenGilbert Having "heroic leaders" pushing a narrative is useless without policy that creates incentives to change attitudes and focus beyond quarterly results.1 reply 0 retweets 1 likeShow this thread -
Even as biz leaders promote a turn away from shareholder primacy, some foundation leaders, like
@Laura_S_Campos at@NCFImpact, worry that corporate interests will water down shareholder power in a pending SEC rulemakinghttps://www.philanthropy.com/article/A-Critical-Tool-for-Holding/247646?cid=cpfd_home …1 reply 1 retweet 0 likesShow this thread -
Meanwhile, as the
@kendedafund spends down its assets, it committed $24 million to promote employee-ownership of companies, supporting groups like@nexuscp1 reply 0 retweets 2 likesShow this thread
Today, 9 foundations and @ImpactInvestUS
announced a $12 million pooled fund to promote #impactinvesting. With many new players n #impinv @OmidyarNetwork's Mike Kubzansky said investors need to chip in for a "guardrail" to protect from "impact washing".https://www.philanthropy.com/article/New-Group-Aims-to-Boost/247664 …
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