Wall Street in 2050

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What will it look like? Who will work there? What information will analysts use to make buying and selling decisions of company stocks? How will the relevant information be made available to analysts?

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Wall Street in 2050

  1. 1. CB Bhattacharya, Dean of International Relations E.ON Chair in Corporate Responsibility ESMT, European School of Management and Technology Wall Street 2050: A New World Order ESMT Annual Forum July 3rd, 2014 ESMT, European School of Management and Technology
  2. 2. The world today 7/8/2014 © C.B. Bhattacharya: All rights reserved 2 World is sleepwalking to a global energy crisis
  3. 3. 7/8/2014 © C.B. Bhattacharya: All rights reserved 3 To have a stock market in 2050 – and one that we like – we must rediscover the company’s role in society
  4. 4. The three aspects of responsibility: Accountability who is to blame for what? Expectation what is socially expected? Trust are they trustworthy and reliable? (Goodpaster and Matthews) Challenge: Reassess the company’s responsibility 7/8/2014 © C.B. Bhattacharya: All rights reserved 4
  5. 5. Lack of trust in business 7/8/2014 © C.B. Bhattacharya: All rights reserved 5 How much do you trust business leaders to do the following? (Edelmann Trust Barometer 2013)
  6. 6. Challenge: Rising expectations – Recognize and communicate interdependence Globalization means interdependence 7/8/2014 © C.B. Bhattacharya: All rights reserved 6 International business more powerful  More responsibility to safeguard the common good  New role in society Of the 100 largest economies, 42 are corporations (IMF, World Bank, 2011)
  7. 7. Doing Well Fulfil expectations and do well Doing WellDoing Well Doing good CR Doing well Strategic CR 10/22/2012 © C.B. Bhattacharya: All rights reserved 7 Triple Bottom Line
  8. 8. Challenge: Redefine the purpose of the company 7/8/2014 © C.B. Bhattacharya: All rights reserved 8 Future business leaders care much more about making an impact on the job (Forbes, 2012, Corporate Social Responsibility: A Lever For Employee Attraction & Engagement)
  9. 9. The challenge today: Integrate responsibility into core activity Key tasks on the journey to responsibility: − Be open to change − Humanize the corporation − Make the business case − Reassess the time-value equation − Leadership at all levels − Create a portfolio 7/8/2014 © C.B. Bhattacharya: All rights reserved 9
  10. 10. Integrated Reporting – a big step forward 7/8/2014 © C.B. Bhattacharya: All rights reserved 10 “Integrated Reporting brings together the material information about an organization’s strategy, governance, performance and prospects in a way that reflects the commercial, social and environmental context within which it operates.” International Integrated Reporting Council (IIRC), 2011
  11. 11. Sustainability becomes material Sustainability Accounting Standards Board 7/8/2014 © C.B. Bhattacharya: All rights reserved 11
  12. 12. Juha LeppänenJuha Leppänen Where do we want to go? Positive scenarios of sustainable business 7/8/2014 © C.B. Bhattacharya: All rights reserved 12 • Governing the Commons • Local Loops • Empathetic Communities • Singular Super Champions Juha Leppänen et al, Demos Helsinki (2012) • Market Forces • Policy Reform • Fortress World • Great Transition Raskin et al, Tellus Institute (2010)
  13. 13. Now, let’s take a leap forward to the world of banking in 2050 7/8/2014 © C.B. Bhattacharya: All rights reserved 13

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