![]() ![]() The events of 2020 have underscored the need for corporations not only to aspire to see themselves and their purpose differently, but also to demonstrate what that difference looks like in a time of crisis. In March of this year, it was evident to all that we would be confronting challenges few of us were prepared to address. As is often the case, this conceptual commitment was tested quickly by actual events. That pivot came at a time of relative prosperity, where the economy was enjoying healthy growth and historically low levels of unemployment. Last year, in this report, we discussed our hope that corporations had reached an important inflection point - a retreat from the absolutist view that our purpose is solely to meet the needs of our shareholders and embrace the view that we are accountable to a broader array of stakeholders. Instead, these events offer another window into the disparities of risks, opportunities and outcomes that persist in our society and reinforce what we know to be true: that we have much work to do to close the substantial gaps in racial justice, equality and wealth, and to ensure that everyone has a fair shot to live without fear and to achieve financial stability and well-being. ![]() However, for many segments of our society, the economic dislocation resulting from the COVID-19 pandemic, and social inequities exposed by the killings of George Floyd, Ahmaud Arbery, Breonna Taylor and other Black Americans, may be different in their proximate cause, but they are certainly not new. We have understood these accommodations and sacrifices to be table stakes if we are to stem the spread of this disease and set our country on the road to recovery. To be sure, we have all, both individually and collectively, confronted a host of new challenges - from mastering the mechanics of remote work and learning to embracing the demands of social distancing. A unique moment in time when an unprecedented global pandemic has forced us to radically alter our daily lives. There is a natural desire, born of uncertainty and anxiety, to see 2020 as an anomaly. ![]()
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