With climate change, social inequality and an ageing population on the horizon, governments alone will not have all the answers.
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Businesses are being called on to wade into the broader social and environmental picture.
A supporter of the “conscious business” model taking root around the globe, Albury solicitor Chris Halburd says regional cities like Albury-Wodonga have a role to play.
“We can establish a cluster of businesses truly intent on creating shared value,” says Mr Halburd.
“Firms that use the power of business to solve the types of environmental and social problems that government and the not-for-profit sector cannot solve on their own.”
Mr Halburd says a conscious business hub will offer Albury-Wodonga a major point of difference.
“We can create a business environment which actively encourages the types of businesses that millennials increasingly want to work for, invest in and buy from,” he says.
“We can position ourselves as a place where business exists to make good profits but also to provide satisfying and stable jobs for workers while limiting negative impacts on the environment and society at large.
“Such a hub of conscious businesses should not entail a major need for funding.
“All that would be needed initially is some leadership locally to provide information and encouragement and then to link interested businesses with third parties such as the not-for-profit B Lab Australia and New Zealand, which helps businesses on their way to B Corp certification.”
Returning to Albury in September 2014, Mr Halburd worked on the The Purpose of the Corporation Project in Brussels for two years. He is part of the advisory board to B Lab Europe.
“No one wants to dismantle capitalism. We all love the company; it just needs a bit of tweaking.”
