In the midst of the COVID-19 pandemic and with a spotlight on inequality, expectations for companies are shifting. The current circumstances make for an important test of corporate purpose.
In summer of 2020, GlobeScan partnered with the Test of Corporate Purpose (TCP) initiative, a project to assess how purpose-driven companies respond in a time of severe global crises and test if they truly “walk the talk” in delivering value for all stakeholders. This research also explored institutional priorities and performance on systemic issues like inequality and climate change.
As one input into research, GlobeScan conducted a stakeholder survey and gathered the perspectives of 561 professionals around the world, including investors, NGOs, Academics, consultants, and others. Our findings, together with the wider report from TCP, signal that future expectations of business will be higher than today, particularly in leading with purpose and delivering value for all stakeholders.
About the Test of Corporate Purpose (TCP)
TCP is an initiative formed in 2020 to evaluate companies’ performance through the COVID-19 pandemic and social unrest in response to inequality, and to assess alignment with recent statements of corporate purpose and commitments to stakeholder primacy. TCP is resourced through the generous support of The Ford Foundation. More more information, visit https://www.sustainabilityrisk.org/tcp or contact firstname.lastname@example.org