Corporate Political Responsibility Taskforce
Resource hub
These resources are intended to help you explore various resources related to establishing corporate political responsibility as a norm, the risks and opportunities that motivate companies to do so, and tools, frameworks, and case studies that can help. Scroll through all the resources on this page or use the anchor links to jump to specific categories.
Spotlight Resource
CSR Needs CPR: Corporate Sustainability and Politics
(Tom Lyon et al, CMR, 2018): Summarizes research on the role of corporations in advancing sustainability, and finds that a company’s political activities may have more impact on social and environmental sustainability than operations. Introduces the concept of “corporate political responsibility” (CPR), which requires transparency, accountability, and responsibility.
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Why CPR?
Explore high-level motivations and rationales to guide companies in establishing corporate political responsibility as a norm.
Firm-Level Opportunities & Risks
Systemic-Level Opportunities & Risks
The Erb Principles & Framework for CPR
More on the Erb Principles for Corporate Political Responsibility and related articles to guide responsible political activity
Other CPR Tools & Frameworks
Going Further
Additional seminal resources and articles from recent years
Why CPR?
High-level motivations and rationales for corporate political responsibility.
Current Trends & Challenges
Spotlight Resource
CSR Needs CPR: Corporate Sustainability and Politics
(Tom Lyon et al, CMR, 2018): Summarizes research on the role of corporations in advancing sustainability, and finds that a company’s political activities may have more impact on social and environmental sustainability than operations. Introduces the concept of “corporate political responsibility” (CPR), which requires transparency, accountability, and responsibility. GO >
Avoiding the Tragedy of the Commons: How to Improve the Political Environment for US Business (Conference Board, 2023)
Survey data shows government affairs and chief legal officers view increased political polarization and decreased trust in government as undermining long-term business planning. Recommends companies adopt shared frameworks and rethink PAC giving and lobbying to support bipartisanship, systemic change, and a positive social impact.
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Fixing US Politics (Katherine Gehl and Michael Porter, Harvard Business Review, 2020)
Founder of the Institute for Political Innovation and a Harvard Professor teamed up to identify the most powerful levers for transformation in American politics. Calls on corporate leaders to reconsider political engagement practices that contribute to gridlock and undermine long-term US competitiveness.
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The New Political Capitalism: How Businesses and Societies Can Thrive in a Deeply Politicized World (Joe Zammit-Lucia, Bloomsbury, 2022)
The New Political Capitalism bridges the gap between the reality of the relationship between business and politics, and the lack of familiarity of the business community, even at the most senior levels, with political thinking.
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Are Businesses Undermining Democracy? (Stanford GSB, February 2021)
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Ready or Not, the Era of Corporate Political Responsibility is Upon Us (Tom Lyon, The Hill, 2021)
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Corporate Political Responsibility (Tom Lyon, Cambridge University Press, November 2023)
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Tools & Proposed Solutions
Do managers have a role to play in sustaining the institutions of capitalism? (Tom Lyon et al, CMR, 2018)
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Time to Succeed (WBCSD, 2021)
Good Corporate Citizenship We Can All Get Behind?: Toward A Principled, Non-Ideological Approach To Making Money The Right Way (Leo E. Strine, Jr., 2022)
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Firm-Level Opportunities and Risks
Brand and Reputation
Risks and opportunities related to political influence and a firm’s brand or reputation.
Current Trends & Challenges
Spotlight Resource
Under a Microscope: A New Era of Scrutiny for Corporate Political Activity (The Conference Board, 2021)
Provides a comprehensive overview of the current legal landscape for corporate political activity. Emphasizes the importance of managing reputational and other risks, underscoring the necessity for oversight and transparency in governing political spending. GO >
Business Perspectives on Political Backlash (Business for America, 2023)
Offers a look at insights from a survey of more than 50 U.S. business leaders across sectors. Provides five key survey takeaways on what businesses are facing and how prepared they are for potential backlash in the 2024 election.
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Public Affairs Pulse Survey Report (Public Affairs Council, 2022)
Reveals increased corporate engagement in social issues amid political uncertainty, resulting in a three-percentage-point surge in public trust for major companies. Shows variation in trust across industries and age demographics. Suggests concerns about institutional and corporate influence, and optimism regarding the growing prominence of small businesses.
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Conflicted Consequences (Center for Political Accountability, 2020)
Investigates the impact of 527 organizations – a lesser-known channel of political spending. Exposes contradictions betweens companies’ stated values and commitments and actual impacts of this channel for election-related spending from corporate treasury funds.
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The New CEO Activists (Mike Toffel, HBR, 2018)
Outlines trends toward rising CEO activism and its influence, risks, and rewards. Shares research suggesting that CEOs must strategically decide when and how to engage with social and political issues, and offers a playbook for CEOs to embrace transparency and accountability to their company values.
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Right-sizing Corporate Voice: A briefing for business on responsible political engagement (Oxfam, 2024)
When businesses prioritize short-term financial interests with minimal transparency, they create an inherent risk of corporate policy capture, exacerbating political and economic inequalities and increasing calls for regulation. A new approach to corporate political engagement that builds on existing frameworks, “right-sizing” corporate voice means business uses its legitimate and necessary political voice without dominating the policymaking process. Drawing on the Erb Principles, this briefing outlines five principles for right-sizing voice, enabling companies to align their political engagement with the protection of human rights, delivery of ambitious environmental goals, support for civic institutions, and the needs of society.
Tools & Proposed Solutions
Spotlight Resource
Strategy in a Hyper Political World (Roger L. Martin & Martin Reeves, HBR, 2022)
Emphasizes that all business decisions now involve complex ethical, societal and/or political issues. Urges leaders to adopt clear, robust principles, address ethics proactively, communicate consistently, collaborate broadly, and learn from errors for effective strategy implementation. GO >
Navigating an Election Year at the Peak of Polarization (The Conference Board, 2024)
This report, based on an executive roundtable and a survey of 96 executives from U.S. and multinational corporations, discusses how companies can navigate challenges related to the 2024 elections.
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Hirschman to the Rescue: How Political Should Companies Be? (Marius Kleinheyer, 2023)
Businesses confront the choice between “Exit” and “Voice” in political engagement. Embracing “Voice” through political participation can enhance loyalty and corporate social responsibility, benefiting both companies and society.
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Breaking the Vicious Cycle of Corporate Entanglement (BCG Henderson Institute, 2023)
Examines corporate involvement in politics and the risks these can create, advocating for restrained engagement, respect for democratic processes, and the empowerment of individual employees as citizens. GO >
When Should Your Company Speak Out on a Social Issue? (Paul A. Argenti, HBR, 2020)
Presents a framework for businesses on handling social and political issues, urging alignment with company values, potential for meaningful impact, and stakeholder consensus. Underscores strategic, authentic communication over reactionary stances.
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Employee And Customer Expectations
Risks and opportunities related to political influence and attracting, retaining and engaging employees and customers.
Current Trends & Challenges
Spotlight Resource
Higher Ground: How Business Can Do the Right Thing in a Turbulent World (Harvard Business Review Press, 2024)
Author and NYU ethics professor Alison Taylor argues that amid stakeholder demands and transparency pressures, business leaders can no longer treat ethics as a legal and reputational defense mechanism. Higher Ground provides a blueprint – featuring the Erb Principles for Corporate Political Responsibility – to help leaders rethink and reshape their practices as they navigate this shift, build trust, and achieve long-term strategic advantage in a turbulent world. GO >
Edelman Trust Barometer (Edelman, 2024)
The 24th annual global survey finds that a rift between innovation and society is a new factor causing further political polarization. The report points to an opportunity for businesses to reverse the trend by explaining how innovation can benefit society and not just investors.
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Americans’ Views on Business Survey: Americans Want Less Talk, More Action (Jennifer Tonti, JUST Capital, 2022)
Highlights widespread support for prioritizing workers and fair wages in the face of economic challenges. A perceived gap between public desires and corporate priorities, coupled with eroding trust in large corporations, suggests that investing in workers is key. Data shows strong support for workers’ rights and collective bargaining.
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Why Stakeholder Capitalism Will Fail (Steve Denning, 2022)
Underscores the pitfalls of ‘stakeholder capitalism’ because it lacks focus on the central role of customer engagement and value-creation. Emphasizes the need for clear customer-focused strategies and a shift from traditional bureaucratic practices for sustained success.
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Greater Expectations: The Evolving Role of Companies Post Elections (Morning Consult, 2020)
Argues that stakeholder capitalism leads brands to adopt a meaningful purpose and engage in corporate social responsibility as an integral part of their business strategy. Emphasizes companies being attentive to consumer values, actively working on solutions, and avoiding polarization, recognizing that passive consumerism is a thing of the past. Also highlights the impact of elections on long-term reputation.
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Tools & Proposed Solutions
Spotlight Resource
Politics and Polarization in the Workplace: An Employer Guide to Bridge Building (Civic Alliance, 2024)
This guide highlights principles for respectful communication, tips for employees, and a sample email for rolling out policy on political dialogue. GO >
Lobbying for Good (Foundation for Public Affairs, 2021)
Presents a framework guiding companies on engaging with social issues, offering a spectrum from supporter to champion. Describes the key elements of an effective engagement plan that breaks down functional silos, supported by compelling case studies.
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The Purpose Priorities Report: How to respond in the New Era of Accountability (Porter Novelli, 2022)
Highlights that consumers are responsive to a company’s political engagement, emphasizing the intrinsic link between purpose and politics. Calls out the need for active management and careful review of issues engaged.
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How The Rise Of Employee-Led Activism Is Changing Expectations Of Leadership (Ashish Kaushal, Forbes, 2022)
Emphasizes the rise of employee-led activism in shaping corporate social responsibility, stressing that successful companies must actively embody their values and respond to social issues to attract and retain talent. Advocates for leaders to redefine profit measurements, prioritize employee satisfaction, and encourage workplace cultures driven by purpose beyond traditional financial success. GO >
Business Disruption From the Inside Out (Forrest Briscoe and Abhinav Gupta, SSIR, 2021)
Highlights the rise of employee activism as an internal force for change. Advises managers to engage with these movements proactively, to foster innovation and enhance company culture.
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Investor Expectations
Risks and opportunities related to political influence and attracting, retaining and engaging investors.
Current Trends & Challenges
Spotlight Resource
Friedman at 50: Is It Still the Social Responsibility of Business to Increase Profits? (Karthik Ramanna, CMR, 2020)
Reflects on Friedman’s claim that business should solely increase profits, homing in on the qualifying clause—that markets need non-market institutions to safeguard the conditions for competition. Argues that corporate influence on the political landscape often tilts in their favor, at the expense of the public sphere and the premise of free markets. GO >
Corporate Political Spending is Bad Business (Leo E. Strine, Dorothy Lund, Harvard Business Review, 2022)
Argues that political spending hurts shareholder interests because it increases risks, is not transparent, and correlates with lower financial performance. Recommends that companies end all spending, obtain shareholder consent, or limit expenditures to PACs (which are strictly voluntary and have mandated disclosure).
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There’s another reason companies should tread carefully with political influence — the stock market is watching (Victor Reklaitis, 2022)
Describes the Center for Political Accountability’s expanded scrutiny of corporate political spending—driven by investor demands for greater transparency—to include Russell 1000 companies. Highlights the growing significance of political ethics in business strategies and investment decisions.
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The Untenable Case for Keeping Investors in the Dark (Lucian Bebchuk, Robert Jackson Jr., James Nelson, Roberto Tallarita, 2020)
Summarizes the debate about whether public companies should disclose political spending. Addresses objections raised by opponents of mandatory disclosure, addressing concerns about counterproductivity and potential First Amendment violations.
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More Shareholders Seek Transparency on Corporate Political Spending and Climate Change (Ciara Torres-Spelliscy, 2021)
Highlights the surge in shareholder activism, urging companies to listen to investor demands for greater transparency and ethical conduct, driving corporate responsibility and ensuring alignment with long-term democratic and environmental values.
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Commissioner Allison Herren Lee Speaks Out on “Materiality,” ESG Matters, Political Spending and Disclosure, Need for SEC Action (Center for Political Responsibility, 2021)
Commissioner Allison Herren Lee addresses misconceptions about ESG disclosures, emphasizing the lack of mandates on corporate political spending and the potential pitfalls of company-led statements. Calls for regulatory scrutiny.
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Fiduciary Blind Spot (Leo E. Strine, Harvard Law School, 2019)
Describes legitimacy problems where corporations may use worker investors’ funds for political spending without transparency or accountability to those investors or civil society. Outlines investment managers’ political power in resolving this issue and tendency to support policies contrary to worker investors’ interests.
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Tools & Proposed Solutions
Spotlight Resource
The Good Lobby Tracker
(The Good Lobby): Provides an assessment of existing corporate political responsibility initiatives for use by business practitioners, investors, civil society advocates, regulators and other stakeholders. Uses a set of 30 questions to rate frameworks against an idealized corporate political responsibility standard. GO >
CPA’s Guide to Corporate Political Spending: A Practical Guide for Management (Bruce Freed, et al, Harvard Law School Forum on Corporate Governance, 2023)
Provides a practical checklist for management, addressing risks associated with contributions, aligning spending with core values, avoiding siloed decision-making, supporting politicians in line with company interests, and safeguarding democratic institutions.
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The Investor Case for Responsible Political Engagement (PRI, 2022)
Encourages responsible corporate political engagement. Highlighting precedent-setting principles, the report details risks from irresponsible political engagement practices (e.g. the revolving door), burdening companies, investors, and society. GO >
Other Stakeholder Expectations
Risks and opportunities related to political influence and legal or regulatory issues.
Current Trends & Challenges
Spotlight Resource
Backlash: The Counter Revolutions Driving Politics and Policy (Bruce Mehlman, 2022)
Explores the cyclicality of policy and politics, addressing four key backlashes: political, market, technology, and cultural cycles, offering insights for institutional success. GO >
Pause in Corporate PAC Spending Triggers Political Pushback (Brody Mullins, Emily Glazer, and Chad Day, WSJ, 2021)
Explores consequences of a pause in corporate PAC spending, highlighting concerns from lawmakers about potential risks to business priorities and election prospects.
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GOP Senators’ ESG Letter (U.S. Senate, 2022)
Explores House Republicans’ proposed legislation limiting the SEC’s authority on climate disclosure for public companies. Raises concerns about economic repercussions and stresses the importance of data crucial to investment strategies.
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Senate Republicans warn U.S. law firms over ESG advice (David Thomas, Reuters, 2022)
Senate Republicans caution law firms about potential antitrust violations linked to ESG issues. Targets efforts limiting fossil fuel supplies and raising energy costs, hinting at possible referrals to antitrust authorities.
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House Republicans float bill to block SEC climate disclosure proposal (Brian Croce, 2022)
Examines House Republicans’ proposed legislation limiting the SEC’s authority on climate disclosure for public companies. Raises concerns about economic repercussions and stresses the importance of data crucial to investment strategies.
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Tools & Proposed Solutions
Spotlight Resource
ESG Investigations Tracker
(Debevoise and Plimpton, 2023): Offers a timeline of significant developments in the U.S. ESG landscape, showcasing industry responses, Republican opposition, Democratic support, legal disputes, and ongoing debates over fiduciary responsibilities, antitrust issues, and government intervention in ESG initiatives. GO >
A legal framework for the integration of environmental, social and governance issues into institutional investment (Freshfields, UN Environmental Program, 2005)
Conducts an annual review of ESG integration in investment decisions, clarifying legal aspects and dispelling misconceptions. Examines the voluntary, legal, or regulatory nature of ESG integration. Explores the relationship between the global environmental and social landscape and investment choices for institutional investors.
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A Refreshing Look at Fiduciary Duties—Significant new reports show that all institutional investing must be responsible investing (The Shareholder Commons)
Empowers investors to confront companies that generate adverse impacts on society and the environment while delivering financial returns. Highlights duty of investment professionals to combat risks through Instrumental Investing for Sustainability Impact (IFSI). GO >
Does the law require institutional investors to pursue sustainability goals? (Freshfields, 2021)
Explores if investors should go beyond financial returns to pursue environmental and social goals. Evaluates legal landscape in 11 global investment hubs. Critical resource for institutional investors shaping legal systems for sustainability. GO >
State-Level ESG Investment Developments: Tracker (Debevoise and Plimpton, 2023)
Highlights 2023’s surge in state-level ESG legislation, surpassing 200 bills since 2020. Observes increased disclosures for investment advisers, stricter compliance requirements for companies, and California’s notable climate-related laws. GO >
Systemic-Level Opportunities and Risks
Opportunities and risks related to political influence and the environment.
Environmental Stewardship and Sustainability
Risks and opportunities related to political influence and the environment.
Current Trends & Challenges
Spotlight Resource
Seven Barriers to U.S. Business Leadership on Climate Policy and How to Break Them Down (World Resources Institute, 2021)
Highlights three internal and four external barriers to advocating publicly for robust climate policies, including organizational structure and political dynamics. Proposes strategies to overcome these challenges. GO >
How Companies Are — and Aren’t — Leading on Climate Policy (Yamika Ketu and Todd Miller, Ceres, 2022)
Highlights the critical need for corporate leaders to advocate for targeted Paris-aligned climate policies, emphasizing that such engagement helps companies navigate regulatory changes, reduce risks, and attract climate-conscious investors.
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The Complicity of Corporate Sustainability (Auden Schendler, SSIR, 2021)
Challenges historical approaches to corporate sustainability, arguing for a shift towards addressing systemic change. Urges examination of public policy aspects as integral to sustainability solutions.
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Greenwash vs. Brownwash: Exaggeration and Undue Modesty in Corporate Sustainability Disclosure (Eun-Hee Kim and Thomas P. Lyon, 2014)
Explores corporate greenwashing’s impact on sustainability claims, revealing how factors like corporate growth and profits influence the choice between greenwashing and brownwashing. External scrutiny is identified as a moderating factor.
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Climate Ambition To Advocacy: A Framework for Responsible Policy Engagement (We Mean Business Coalition, 2024)
Companies serious about meeting climate targets know that advocating for pro-climate measures and intervening when their trade groups lobby against them can help bring about policies that unlock investment and deliver action at scale. Developed by the We Mean Business Coalition and Ceres alongside a taskforce of leading NGO partners with input from over 60 companies, The Responsible Policy Engagement (RPE) framework enables companies to reap the business benefits of responsible advocacy and respond to rising stakeholder expectations. The Framework references the Erb Principles for CPR as a useful resource to support companies’ work to establish governance, decision-making and review processes on climate lobbying.
Tools & Proposed Solutions
Spotlight Resource
A Framework for Responsible Policy Engagement (We Mean Business Coalition, 2023)
Developed by the We Mean Business Coalition with Ceres and a taskforce of partners including CPRT consultant Amy Meyer of Unless Strategies, the Responsible Policy Engagement (RPE) framework is designed to help companies practice responsible climate advocacy. Over the past year, RPE has gained prominence as businesses prepare for new disclosure regulations like the EU’s CSRD and face increasing investor pressure. The framework has become a key reference for best practices in corporate advocacy. GO >
Blueprint for Responsible Policy Engagement on Climate Change (Ceres, 2020)
Offers recommendations on establishing systems for addressing climate change as a systemic risk and integrating this understanding into direct and indirect lobbying on climate policies.
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The Visionary CEO’s Guide to Sustainability (Bain & Company, 2023)
As new energy policies and regulations emerge, businesses must be able to adapt and navigate the energy transition. In this guide, learn how business leaders can prepare by exploring how market dynamics will transform over the coming decade.
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CA100+ Investor Hub (InfluenceMap, 2024)
Contains LobbyMap’s analysis of target companies and their industry associations, as well as additional resources on corporate climate policy engagement disclosures and shareholder resolutions..
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AAA Framework for US Climate Policy Leadership (AAA, 2021)
Urges business to include climate policy advocacy aligned with their sustainability strategies. Advocates for science-based climate actions, including supporting legislation aligned with the 1.5°C temperature limit and achieving net-zero emissions by 2050, emphasizing the importance of lobbying efforts aligning with these objectives. GO >
Addressing Trade Association Misalignment on Climate Policy (The B Team, 2020)
Guides companies in understanding and aligning the climate policies of their trade associations with science-based targets. GO >
Leading Lobbying Practices to Drive 1.5 Policy Action (Paul Hodgson and Tracey Rembert, 2022)
Emphasizes the need for corporate action on sustainability issues through the Global Standard. This standard provides 14 indicators for investors to be aware of, ranging from committing to Paris-aligned climate lobbying to engaging in positive lobbying. GO >
Climate Ambition to Advocacy (We Mean Business Coalition, 2023)
Highlights the need to align advocacy efforts with climate commitments, supporting policies for achieving net-zero emissions by 2050. Addresses internal alignment challenges within companies and the absence of a global RPE (Responsible Political Engagement) framework. GO >
Economic Opportunity and Inclusion
Risks and opportunities related to political influence and access to economic opportunity and inclusion.
Current Trends & Challenges
Spotlight Resource
Faster Growth, Fairer Growth (Niskanen Center, 2020)
Argues that regulatory capture — specifically in finance, health care and housing sectors — has created extensive roadblocks to achieving inclusive prosperity. Advocates for a more dynamic high road economy built around equitable access to high quality services (see pages 1-11). GO >
The Social Justice Guide for Business (BSR, 2024)
This foundational resource illuminates ways to sustain and raise corporate ambition in meaningful ways. It includes three documents to explain how companies currently engage on social issues, what a corporate social justice approach entails, and what companies can do to advance social justice.
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The Case for Common Good Capitalism (Marco Rubio, 2019)
Contrasts common-good capitalism with the modern shareholder-dominated economy. Advocates for restoring balance by prioritizing worker benefits and economic fairness. Analyzes how large corporations have become beholden to shareholder and bank demands, reducing innovation and limiting financial opportunity for other stakeholders
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Rebuilding American Capitalism: A Handbook for Conservative Policymakers (American Compass, 2023)
This handbook presents a comprehensive agenda for restoring conservative economics and rebuilding American capitalism. Each section features analysis and policy proposals and commentary from policy experts, as well as a brief memo for conservative policymakers with recommendations for addressing the issues at hand.
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The Business Role in Creating a 21st-Century Social Contract (Business for Social Responsibility, 2020)
Discusses creating a new social contract in business, emphasizing collaboration between public and private entities. Highlights the opportunity areas specifically for businesses. (Resource is 71 pages in full; 9-page summary linked here).
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AI and Ethics: Issue Brief (Bipartisan Policy Center, 2020)
Emphasizes the importance of fairness, bias reduction, and privacy protection in the use of artificial intelligence technologies. Calls for a collaborative approach to address ethical challenges through research, diversity, standards development, and regulatory modernization.
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Tools & Proposed Solutions
Spotlight Resource
Guiding Principles on Business and Human Rights (UN Global Compact, 2011)
Widely accepted multi-sector framework outlining expectations for companies to evaluate and disclose their commitment to human rights, identify salient issues, identifying processes for responding to claims, conducting due diligence and identifying strategies to prevent, mitigate or remediate adverse impacts on individuals and communities. Supports corporate political responsibility by outlining political rights as human rights, and providing established processes to draw on. GO >
Corporate Performance Standards On Racial and Economic Equity: Developmental Approach and Methodology (PolicyLink, 2022)
Argues for the private sector’s crucial role in eliminating racial and economic inequality. Provides guidelines for responsible corporate activity, including responsible corporate political influence. Defines equity as just and fair inclusion into a society in which all can participate, prosper, and reach their full potential.
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Rebuilding American Capitalism: A Handbook for Conservative Policymakers (American Compass, 2023)
Argues for policy grounded in conservative economics frameworks, recalling that the purpose of markets is to serve society and expand societal welfare. Calls on policy makers to align economic policy positions with this purpose and public priorities. GO >
Executive Guide to Navigating Our Complex Political, Social and Economic Environment (IGC, 2023)
Emphasizes the need to define supplier standards, align philanthropy with values, link political activities with social strategy, monitor investor trends, engage authentic employee social involvement, and communicate transparent impact plans to customers. GO >
The Climate Justice Playbook for Business (B Lab, 2021)
Calls on the global business community to shift from extractive to regenerative practices, emphasizing equity-driven solutions for those most impacted by climate change. Encourages businesses to incorporate all stakeholders in their decisions and take responsibility to reduce their negative environmental impacts. GO >
The Just Transition: A Framework for Company Action (Council for Inclusive Capitalism, 2021)
Presents an all-encompassing guide for institutions to equitably transition to net-zero emissions, including four pillars and 20 building blocks, with practical examples and calls to ensure alignment with just transition assessment methodologies. Guiding principles include fostering collaboration and transparency throughout the process. GO >
Strong Civic Institutions
Risks and opportunities related to political influence and healthy civic institutions and human rights.
Current Trends & Challenges
Spotlight Resource
Financial Implications of Rising Political Risk in the US (Harvard Law School Forum on Corporate Governance, 2024)
Threats to democracy in the U.S. are having a powerful, long-term, but under-the-radar impact on the financial world. A recent nonpartisan analysis examines investor opinion in the wake of rising political risks and what actions institutional investors can take as we enter the 2024 presidential election cycle. GO >
The Business Case for Saving Democracy (Rebecca Henderson, Harvard Business Review, 2020)
Argues that free markets need free politics and that business has a stake in well-functioning, trusted government. Recommends that businesses shift from partisan players to supporters of the democratic process.
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Understanding U.S. Political Risk: Implications for Business (Leadership Now, 2023)
Outlines the critical threats facing U.S. democratic institutions and how weakening political structures can affect the business environment. Provides actionable strategies business leaders can use to mitigate these risks and help stabilize U.S. democracy.
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Geopolitical Corporate Responsibility Can Drive Change (Bennett Freeman, 2022)
Argues that multinational companies should adopt a new geopolitical corporate responsibility, using influential economic power to support the international rules-based order during stress or challenges.
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Chairman's Message: What Happened on Capitol Hill Was Predictable (Steve Killelea, Institute for Economics and Peace, 2021)
Outlines how the Jan. 6, 2021, Capitol insurrection was predictable, given declines in eight “pillars of positive peace.” Recommends averting future violence by strengthening these pillars, which include well-functioning government, sound business environment, low levels of corruption, and respect for the rights of others.
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Historically Low Faith in U.S. Institutions Continues (Lydia Saad, Gallup News, 2023)
Discusses persistent decline in trust in major institutions in the U.S. Highlights that small businesses and the military are most trusted, while Congress is at 8% and big business at 14%.
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Public Trust in Government: 1958-2023 (Pew Research Center, 2023)
Reveals that public trust in the federal government has dropped to near-record lows following a trend of declining trust since the 1960s, with partisan and racial disparities in trust levels.
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Corporate Enablers (Center for Political Accountability, 2021)
Provides detailed data on how corporate contributions to state-level 527 groups ended up enabling legislation that reduced voter access.
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Large Corporations Contributed to Our Political Polarization: Here’s How They Can Fix It (Mark Mizruchi, Niskanen Center, 2020)
Provides a historical link between a decline in leadership by large corporations and policy eras contributing to political polarization. Argues for private sector investment in public policy, advocating for sustained involvement beyond one-off CSR initiatives.
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Tools & Proposed Solutions
Spotlight Resource
Elections Toolkit (Civic Alliance, 2024)
Find information to champion local and state elections, educate audiences about the elected positions and key races on their ballots, and connect employees and customers with valuable voter resources. GO >
Our Common Purpose: Reinventing American Democracy for the 21st Century (American Academy of Arts and Sciences, 2020)
Summarizes the results of a two-year bipartisan commission studying citizen concerns and how to revitalize democratic participation. Calls for a “fourth founding” of the United States, outlining six imperatives: achieve equal representation, empower voters, ensure political responsiveness, expand civil society, build civic information systems, and nurture a culture of commitment to democracy.
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The Better Arguments Project (Aspen Institute/Allstate, 2020)
Explores the history, emotion, and power of effective argumentation to promote more constructive debates and mutual learning in America. Shares key principles, including removing the focus on winning, prioritizing relationships and engaged listening, considering context, embracing vulnerability, and creating space for transformation.
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A Business Approach to Reinforcing Democracy (BSR, 2022)
Outlines examples of democratic decline and threats to the foundational elements of societies, as well as steps businesses can take to address these challenges.
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Civic Journey Guide (Civic Alliance, 2024)
A clear and tactical guide for creating an inclusive and engaged workplace, celebrating milestones along the way, and making measurable impact in supporting a thriving democracy.
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The Lobbying for Good Movement (SSIR, 2024)
Too many nonprofits and foundations reject lobbying as dubious. But a new movement is reclaiming this practice as essential for promoting social change.
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Corporate Civic Playbook (Civic Alliance, 2022)
Assembles a robust playbook for companies to help empower people and support a strong democracy. Includes concepts for the business case, self-assessment questions, and concrete steps to engage employees, consumers, and stakeholders more representatively. GO >
Business Bridging Divides (Business for America, 2023)
Explores how the business community can incorporate conflict navigation and relationship-building in employee training and development. Provides information on how America’s divides are affecting businesses and supports to help these challenges. GO >
UN SDG 16 Business Framework (UN Global Compact, 2021)
Encourages businesses to actively participate in fostering resilient, inclusive societies as part of UN Sustainable Development Goal 16. Advocates for access to justice and effective, accountable institutions to promote a better and more equitable future. GO >
Business Leader’s Guide to Democracy (Leadership Now Project, 2022)
Provides information on various aspects of democratic systems, including campaign finance, business engagement, threats, and innovation. Enhances conversations around protecting and renewing American democracy. GO >
“POST-MAP-ASK” Towards a More Democratic, Modern Lobbying Process (New America Foundation, 2016)
Promotes the establishment of a voluntary public database to monitor the political stances and documents of advocacy groups. The objective is to enhance transparency in the lobbying process, simplifying the identification of stakeholders and their positions in crucial policy discussions. GO >
Long-Term Shareholder Value
Risks and opportunities related to political influence and long-term shareholder value.
Current Trends & Challenges
Spotlight Resource
Sustaining Capitalism: Bipartisan Solutions to Restore Trust & Prosperity (Steve Odland and Joe Minarik, Committee for Economic Development, 2017)
Outlines how U.S. long-term economic growth requires addressing declining trust in economic fairness, well-functioning government, and even capitalism. Calls on business leaders to champion fair competition, transparency, and a long-term perspective, while working with policymakers in support of reforms in campaign finance, lobbying, redistricting, and the legislative process, as critical to restoring public trust and securing capitalism’s sustainability. GO >
Financial Implications of Rising Political Risk in the U.S. (Stephen Davis, Harvard Law School Forum on Corporate Governance, 2023)
Highlights survey findings on increasing threats to U.S. democracy and concerns about U.S. public companies’ ability to manage political risks.
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The Financial and Economic Dangers of Democratic Backsliding (Layna Mosley, Brookings Institution, States United Democracy Center, 2023)
Discusses the need for institutional investors to consider U.S. political risk in investment decisions amid democratic erosion.
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How Does Business Fare Under Populism? (Rachel Kleinfeld, Carnegie Endowment, 2023)
Discusses the rise of populist leaders. Explores their tendency to centralize power, sideline institutional checks, and implement policies challenging conventional political categories. Analyzes the impact on businesses navigating this political landscape.
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A Recovery Squandered (Michael Porter et al, HBS, 2019)
Identifies the role of business in political gridlock. Proposes solutions for businesses to contribute positive social and economic impact (see pages 28-36).
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Tools & Proposed Solutions
Spotlight Resource
Walking the Talk: Valuing a Multi-Stakeholder Strategy (FLCT Global and Wharton Business School, 2022)
Emphasizes the benefits of implementing a multi-stakeholder strategy. Examines how companies prioritizing key stakeholders and excelling in ESG measures achieve higher and more stable returns, enhanced R&D investments, and improved long-term guidance, resulting in significant additional firm value. GO >
Reinventing Capitalism: A Transformation Agenda (World Business Council for Sustainable Development, 2020)
Identifies key factors necessary to refocus capitalism on long-term inclusive growth. Outlines specific practices and policies for businesses to support this transformation, emphasizing the importance of fostering sustainable economic development (see pages 5-13).
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The Net Positive Manifesto (Paul Polman and Andrew Winston, Harvard Business Review, 2021)
Introduces the concept of “net positive” companies. Urges corporate leaders to proactively address societal and environmental challenges. Outlines four critical paths for businesses to thrive: serving multiple stakeholders, taking ownership of impacts, forming deep partnerships, and addressing systemic challenges through advocacy and government collaboration. GO >
Capitalism Recoupled (Colm Kelly and Dennis Snower, Oxford Review of Economic Policy, 2021)
Outlines four major forces undermining the conditions needed for markets to create societal value. Emphasizes shifting focus of economic policy toward societal outcomes to ensure businesses serve shareholders, stakeholders, and society at large. GO >
The Erb CPR Principles and Framework
Highlights the Erb Principles for Corporate Political Responsibility and related articles on legitimacy, accountability, responsibility and transparency.
Current Trends & Challenges
Spotlight Resource
Erb Principles for Corporate Political Responsibility
(Erb Institute): Offers a non-partisan, principled thought process to help companies determine whether and how to engage in civic and political affairs. Outlines key elements of legitimacy, accountability, responsibility, and transparency, enabling companies to reduce risk, increase impact and strengthen trust in civic institutions. GO >
The Importance of Corporate Political Responsibility (Andrew Winston, Elizabeth Doty, and Thomas Lyon, MIT Sloan Management Review, 2022)
Discusses the misalignment between sustainability and political influence. Emphasizes that companies can avoid policy inconsistency and advance sustainability by focusing on four underlying systems: the rules of the game, civic institutions and representation, civil society and public discourse, and natural systems and shared societal resources.
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How Can Companies Use Their Political Influence Responsibly? (Tom Lyon and Elizabeth Doty, Network for Business Sustainability, 2023)
Highlights the concept of Corporate Political Responsibility (CPR) and why companies have an obligation to ensure their political activities help protect the systems on which society depends. Explores the four CPR principles and how businesses can use them to determine whether and how to engage in the political sphere.
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How to Juggle Corporate Political Activity with Stakeholder Goals (Allison Herren Lee and Ed Dolan, Bloomberg Law, 2023)
Explores the debate on prioritizing shareholders versus broader stakeholders. Highlights Erb Institute’s CPR principles as a tool to improve markets and outcomes for all stakeholders.
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Corporate Political Responsibility in a Captured Economy (Claudine Schneider and Ed Dolan, ProMarket, 2023)
Examines the reasons for our current “captured economy” and how the Erb Principles for CPR broaden the considerations of political involvement for corporate leaders. Offers real-world scenarios for businesses to consider how to engage in political activities without encroaching on the public interest
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Corporations Were Never Supposed to Write the Rules (Maureen Kline, Fortune, 2023)
Explores how the Erb Principles for CPR provide a framework for an evolution in lobbying from shareholder primacy to stakeholder capitalism. Calls on corporations to refocus lobbying and influence strategies on a more transparent, accountable approach.
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How A Framework For Corporate Political Responsibility Can Enhance Business Social And Environmental Sustainability (Christopher Marquis, Forbes, 2023)
Provides insight on development of the Erb Principles for CPR and outlines three bases for political engagement. Offers scenarios for corporate consideration and action on social and environmental challenges.
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When Should Business Take a Stand? (Financial Times, 2022)
Examines interconnected perils that companies face in a new era of corporate political responsibility. Explores how business leaders are rethinking political involvement and adopting integrated, proactive approaches to corporate political responsibility.
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How — and When — Should Companies Engage in the Political Process? (Ed Dolan, Harvard Business Review, 2023)
Explores how the Erb Principles for Corporate Political Responsibility offer a comprehensive set of standards to help harmonize free market capitalism and constitutional democracy. Outlines three components of the principles and corporate actions that align with responsible political behavior.
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Other CPR Tools & Frameworks
Highlights other tools and frameworks for operationalizing Corporate Political Responsibility.
Current Trends & Challenges
Spotlight Resource
CPA-Wharton-Zicklin Model Code of Conduct for Political Spending (Center for Political Accountability, 2021)
Provides a set of 12 policies to ensure transparency, accountability and responsibility in companies’ election-related spending. Aligns with the CPA-Zicklin Model Code of Conduct and adds new elements to ensure trade association alignment and consideration of societal impacts. GO >
OECD Principles for Transparency and Integrity in Lobbying (OECD, 2013)
Focuses on mechanisms for effective implementation of openness, transparency, and integrity in lobbying practices. Provides links to reports on the history of lobbying regulations around the world and how they reinforce CPR principles of legitimacy, responsibility, and transparency.
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Zicklin Index of Corporate Political Disclosure and Accountability (Center for Political Accountability, Zicklin Center for Business Ethics Research, Wharton, 2022)
Offers an authoritative overview of corporate political spending types and current scores for S&P 500 on disclosure, prohibition, and oversight.
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Under the Radar: The Unrecognized Importance of 527 Committees (Center for Political Accountability, 2022)
Explores the campaign-finance role of 527 committees and how they influence elections. Provides examples of donor-influenced legislation that has reshaped politics and policy.
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GRI 415: Public Policy (Global Reporting Initiative, 2016)
Represents Global Reporting Initiative standards related to companies’ public policy management. Requires companies to report on their approach and alignment of political influence activities with stated objectives.
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Wise Counsel or Dark Arts? (Transparency International UK, 2015)
Offers checklists as a practical tool for assessing and enhancing responsible corporate political engagement, covering various aspects such as political contributions, lobbying practices, stakeholder engagement, and organizational structure.
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Social Transformation Framework (World Benchmarking Alliance, 2021)
Benchmarks companies’ progress against the UN Sustainable Development Goals, by outlining and tracking 18 core social indicators (CSIs). Includes one indicator (CSI 18) on corporate political engagement, drawing from Transparency International principles.
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Net Positive (Paul Polman, Andrew Winston, 2021)
Introduces the concept of a “net positive business” that contributes more to society than it takes. Outlines “net positive advocacy,” where companies collaborate for policies that support systemic solutions and positive outcomes.
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The Responsible Lobbying Framework (Responsible Lobbying, 2020)
Provides five principles to guide companies in using political influence responsibly, including legitimacy, transparency, consistency, accountability, and opportunity. Offers particular detail on transparency, and outlines positive roles for lobbying.
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Going Further
Additional resources and background.
Current Trends & Challenges
Freedom in the World (Yana Gorokhovskaia, Adrian Shahbaz, and Amy Slipowitz, Freedom House, 2023)
Reflects on the global struggle for democracy, emphasizing the universal desire for freedom, the resilience of the democracy movement, and the crucial role of human rights defenders in promoting political rights and civil liberties despite challenges and authoritarian regimes. Provides a rubric for evaluating key elements of free societies.
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Dark Money Illuminated (Issue One, 2016)
Examines the origins and societal impact of dark money, offering a pioneering database that sheds light on transactions in the shadows.
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Time to Wake Up (U.S. Senator Sheldon Whitehouse, 2021)
Summarizes the Senator’s weekly climate speeches and the need for corporate political responsibility to enable climate policy in Congress. Outlines new options for bipartisan climate solutions with new U.S. Chamber leadership.
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How the Right and the Left Switched Sides on Big Business (Conor Fiedersdorf, The Atlantic, 2023)
Examines the evolving relationship between conservatives, liberals, and corporations and their influence on social issues. Highlights the complex interplay of state and private power in a free society.
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It Should Be Mandatory To Disclose Political Influence Seeking And Payoffs From The State — There’s An Evidence-Based Reason Why (Shivaram Rajgopal, Forbes, 2021)
Argues for mandatory disclosure of corporate political influence seeking and payoffs, citing evidence of large returns on such investments. Emphasizes transparency as a countermeasure to crony capitalism as state-directed spending grows.
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To Save the Climate, We Have to Reimagine Capitalism (Rebecca Henderson, TED, 2020)
Describes how unchecked capitalism destabilizes the environment and harms human health. Urges companies to acknowledge their role in the climate crisis and play a role in fixing it.
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3 Actions CEOs Must Take to Uphold U.S. Democracy (Paul Polman, Harvard Business Review, 2021)
Outlines necessary steps businesses must take in corporate political responsibility reform, including ending trade association lobbying, dissolving corporate PACs, and working on legislative reform to reverse Citizens United.
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How America's Business Leaders Can Better Protect U.S. Democracy (Judy Samuelson and Miguel Padro, Quartz, 2022)
: Proposes three strategies for boards and executives to safeguard US democracy: challenging the narrative of shareholder supremacy by emphasizing contributors to business success, promoting power-sharing and equitable rewards, and reassessing corporate actions that undermine democracy.
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A Legal Framework for Impact (PRI, UNEP FI and The Generation Foundation, 2021)
Analyzes legal frameworks for investor impact considerations in 11 jurisdictions around the world. Highlights effective sustainability approaches and offers policy recommendations.
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Foreword to the CPA-Zicklin Index of Corporate Political Disclosure and Accountability (Center for Political Accountability, 2019)
Written by Leo E. Strine, Former Chief Justice of the Delaware Supreme Court (see pages 7-8).
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Common Purpose: Realigning Business, Economics & Society (Colm Kelly and Blair Sheppard, PwC Strategy + Business, 2017)
Examines how current economic and political upheavals reflect an ongoing misalignment between business and economies and acceptable societal outcomes. Encourages re-examination of long-held assumptions.
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Financial System Transformation Benchmark (World Benchmarking Alliance, 2021)
Measures and ranks the 400 most influential financial institutions on their contribution to a just and sustainable economy.
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Why the Past 10 Years of American Life Have Been Uniquely Stupid (Jonathan Haidt, The Atlantic, 2022)
Examines the fragmentation between red America and blue America, as well as within universities, companies, professional associations, museums, and even families.
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The Fracturing of the American Corporate Elite (Mark Mizruchi, Harvard University Press, 2013)
Advances the argument that American CEOs, seemingly more powerful today than ever, have abrogated the key leadership role they once played in addressing national challenges, with grave consequences for American society.
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American Schism: How the Two Enlightenments Hold the Secret to Healing Our Nation (Seth Radwell, 2021)
Outlines why reasoned analysis and historical perspective can act as salves for current irrational political discourse.
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How to Keep Your Corporation Out of the Culture War (Jonathan Haidt and Greg Lukianoff, Persuasion, 2021)
Provides eight steps business leaders can take to prevent ideological pressure and political conformity in the workplace.
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Promises Kept: The Companies Not Funding Sedition (Robert Maguire and Caitlin Moniz, CREW, 2022)
Why Policy Should Be Part of Your Net-Zero Climate Strategy (Heather Clancy, GreenBiz, 2021)
Climate-centric companies are typically “outgunned” by the fossil fuels industry. NGOs suggest they won’t be able to reach their net-zero goals without changing that habit.
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Why Is Governing No Longer Good Politics? (Fix US, 2021)
Former members of Congress, ambassadors, Cabinet secretaries, White House chiefs of staff, and other civil servants share their thoughts on the origins of hyper-partisanship and suggest measures to move institutions away from partisan gridlock toward effective governance.
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Executives Seeking Caps On Donations Stand Strong (Don van Natta Jr., New York Times, 1999)
Leaders of the Committee for Economic Development say they gained members after the committee was chastised by Senator Mitch McConnell.
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Cronyism: Undermining Economic Freedom and Prosperity Around the World (James Roberts, Heritage Foundation, 2010)
Advocates for a system of non-discriminatory markets and impartial credit allocation, as well as rewards for individual success.
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2022 Survey of Investors, Retirement Savings and ESG (Hoover Institution, 2023)
Finds that support for ESG falls precipitously year-over-year, particularly among young and middle-aged investors.
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Investors Want to Hear from Companies About the Value of Sustainability (Gelb et al, McKinsey, 2023)
Shares results from a survey of chief investment officers that suggests major investors believe that ESG is important but need greater clarity about the ESG value proposition.
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CEO Action for Racial Equity (PwC)
A business-led initiative working to advance racial equity through public policy.
Tools & Proposed Solutions
Converging on Climate Lobbying (PRI, 2018)
Discusses the significance of corporate engagement in climate policy, outlining challenges and benefits for investors. Provides practical guidelines and case studies to encourage further engagement.
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Responsible Political Engagement: Stewardship Practices and Challenges (PRI, 2022)
Explores how investors leverage political engagement for sustainability progress, evaluating its alignment with long-term interests and responsible investment goals. Offers insights into identification, integration, and challenges associated with political engagement.
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Towards Responsible Lobbying (UN Global Compact, 2005)
Examines issues around political lobbying and proposes a comprehensive framework which companies and NGOs can use to assess the responsibility of their own lobbying activities and to identify areas for improvement.
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Business for Rule of Law Framework (UN Global Compact, 2015)
Seeks to advance the rule of law by engaging responsible business to support the building and strengthening of legal frameworks and accountable institutions – serving as a complement to, not substitute for, government action.
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Finding the Middle Ground in a Politically Polarized World (Craig Smith and Daniel Korschun, MIT Sloan, 2018)
Explores why companies need a nuanced set of options amid growing expectations from consumers and employees to engage with social, environmental, and economic issues.
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Stakeholder Capitalism and ESG: A Guide for Communication Leaders (Arthur W. Page Society, 2022)
A study guide to help chief communication officers and their teams move up the Progression Path on Advancing Societal Value.
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CEO Blueprint for Racial Equity (PolicyLink, 2021)
Guides corporate leaders beyond diversity and inclusion commitments to the heart of the business opportunity ahead: addressing the intended and unintended impacts of products, services, operations, policies, and practices on people of color and low-income communities, with key recommendations across the three domains of corporate influence: within the company, within the community, in society.