WEBVTT 1 00:00:00.359 --> 00:00:03.442 (light upbeat music) 2 00:00:04.740 --> 00:00:06.660 There's a question in the world right now: 3 00:00:06.660 --> 00:00:08.220 Is ESG a good thing 4 00:00:08.220 --> 00:00:10.440 or a bad thing for corporations? 5 00:00:10.440 --> 00:00:13.050 At BCG we think that's too simplistic. 6 00:00:13.050 --> 00:00:16.710 What we know is that when ESG is done right, 7 00:00:16.710 --> 00:00:20.310 it can create huge advantage for businesses. 8 00:00:20.310 --> 00:00:23.280 But in order to be done right, what we know also 9 00:00:23.280 --> 00:00:27.300 is that you have to find a material social impact 10 00:00:27.300 --> 00:00:31.260 that also creates profit and advantage for the business. 11 00:00:31.260 --> 00:00:33.120 And when you get that combination, 12 00:00:33.120 --> 00:00:34.980 that's when the magic happens. 13 00:00:34.980 --> 00:00:37.170 So how do you find a material thing 14 00:00:37.170 --> 00:00:38.940 that a company can take on? 15 00:00:38.940 --> 00:00:41.910 We suggest that you look across your value chain. 16 00:00:41.910 --> 00:00:43.200 Look at the supply chain, and say, 17 00:00:43.200 --> 00:00:45.900 can we create an inclusive supply chain 18 00:00:45.900 --> 00:00:48.240 that brings more diverse suppliers into the business, 19 00:00:48.240 --> 00:00:50.940 but also lowers cost and increases resilience? 20 00:00:50.940 --> 00:00:53.640 Can we create a more inclusive organization 21 00:00:53.640 --> 00:00:55.920 that uplifts those in the greatest needs, 22 00:00:55.920 --> 00:00:58.320 but creates at the same time greater motivation 23 00:00:58.320 --> 00:01:00.180 and productivity for the business? 24 00:01:00.180 --> 00:01:03.360 Or can we create products and services 25 00:01:03.360 --> 00:01:06.420 that meet needs like health equity and access, 26 00:01:06.420 --> 00:01:08.550 or digital inclusion, or financial wellness 27 00:01:08.550 --> 00:01:10.950 that also grow and create profitable 28 00:01:10.950 --> 00:01:13.655 new segments for your company? 29 00:01:13.655 --> 00:01:16.822 (bright upbeat music)