Governance, Sustainability and Impact: Where do we go from here?

Governance, Sustainability and Impact: Where do we go from here?

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We are close to the end of the topics we planned to blog about. All of you have a better sense of how we see the world and how important it is for everyone to follow a Duty of Care. Relevance, Trust, and Impact (and the hashtag #RTI) is our shorthand for the intended result when each of us exercise a Duty of Care.

The response to our posts is clear confirmation that we have been relevant. The posts are widely read. There are comments from readers, and the comments are supportive.

We have talked about the common goals that exist around the world and across religions. Along the way, we encouraged you to look beyond different languages and different religions as we should focus on these goals. Trust is easier to build with shared goals.

Good intentions are important, but not enough. At the end of the day impact matters. And the more we work together, the greater the impact. We have power through collaboration.

Sustainability requires more than impact today; the impact must be enduring. Sustainability is more likely to occur when there is good governance. Good governance is key as it provides a stable foundation over time. The transparency and honesty of governance also provides catalysts for trust.

We are asking each of you to review your Duty of Care (or to establish one if you don’t have one). Specifically, is your Duty of Care:

  • Relevant to the key issues in the world?
  • Spreading trust between you and other people, especially those with different backgrounds and perspectives?
  • Spreading trust between organizations, especially those in different groups, countries, and religions than yours?

Also to ask:

  • Are you having impact? How do you know that is true?
  • Are you modelling good governance through your behaviours?
  • Are you encouraging good governance in the organizations with which you are associated?
  • What will you do to help those who are younger and/or who may not have access to the resources that you are privileged to have? Are these people creating and strengthening their respective Duty of Care?

Both of us are committed to our respective Duty of Care. Completing this series of blog posts is only a milestone. There is much more for us to do. We will stay active on IslamicMarkets.com. We will write more; whether together, individually, or with other people. We remain active across the globe and are part of an amazing network of people doing great work.

What about you? Will you start now? There is no time to waste.

Wassalam,

Kurt and Daud


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Comments (3)
2 years ago
Responsible Finance & Investment Foundation

Thank you for an interesting and thought-provoking series of articles. The more deeply one goes into topics around sustainability (social, economic and environmental) the more clearly it becomes that no one way of thinking is the "right" answer. This makes it more difficult in some ways because everyone would prefer to be able to devise a standardized approach that allows for a split of financial activity into sustainable or not sustainable.

The focus you've put onto governance is well suited for succeeding in a world where there are shades of grey. By developing a consistent system for outlining assumptions and objectives, measuring impact, communicating it and rethinking assumptions where needed, there is a dialogue created. Transparency and openness, the preconditions for dialogue, makes the process of reacting to changes (to the economy, to society and to the environment) more sustainable.

If we know who else is marking their approach to market (which is sustainable and resilient) and who is just repeating the same practices over again even where the facts have changed (unsustainable), it diffuses changes more fluidly throughout the financial system.

2 years ago
DVA Consulting Sdn Bhd

Thanks so much dear Blake for your usual constructive and thoughtful comments (edited)

2 years ago
Magni Global

Agree!