The business benefits of doing good | Wendy Woods

譯者: Lilian Chiu 審譯者: Regina Chu

A few years ago,

幾年前，

all the developed countries in the world --

世界上所有的已開發國家──

the wealthier ones --

較富裕的國家──

and all of the charities

以及所有的慈善團體

together donated about 200 billion dollars

共捐贈了約兩千億美元

to developing countries in the world --

給世界上的開發中國家──

the ones that bear most of the burden,

這些國家承受大部分重擔，

the heaviest burden of the world's biggest problems:

是世界上最大的問題 所產生的最重擔子：

poverty, hunger, climate change and inequality.

貧困、饑荒、氣候變遷，及不平等。

That same year,

同一年，

businesses invested in those same countries 3.7 trillion dollars.

企業投資了 3.7 兆美元在那些國家。

Now, I get to travel a lot in my work

我的工作常常需要旅行，

and I'm privileged to see the amazing things

我有幸可以看到 非政府組織和一些政府，

that NGOs and some governments are doing

with some of that 200 billion dollars:

用那兩千萬美元做出了不起的事：

helping malnourished children

協助營養不良的孩童，

or families that don't have access to clean water,

或是無法取得乾淨水源的家庭，

children who wouldn't be educated otherwise.

或本來沒機會受教育的孩童。

But it's not enough

但這樣並不夠，

because the biggest problems in our world need trillions

因為世界上最大的問題 需要用到數兆美元，

not just billions.

不只是幾億美元。

So if we're going to make lasting and significant progress

對於世界上最大的挑戰，

如果我們想要有持久且顯著的進展，

in the big challenges in our world,

we need business,

我們需要企業，

both the companies and the investors,

包括公司以及投資者，

to drive the solutions.

由他們來驅動解決方案。

So let's talk about what business should do.

我們來談談企業應該做什麼。

And when I say that,

我說那句話時，

you probably think that I'm going to talk about corporate philanthropy

你可能在想，我要談企業慈善行為，

or corporate social responsibility.

或企業社會責任（CSR）。

CSR is the norm today,

CSR 是現今的標準，

and it's very useful.

它非常有用。

It provides a route for corporate generosity

它為企業慷慨行為提供了一條路徑，

and that generosity is important to many corporations' employees

慷慨行為是很重要的， 對許多企業的員工而言是如此，

and customers.

對客戶亦是如此。

But you know what?

但你們知道嗎？

It's just not big enough,

這不夠大，

or strong enough,

不夠強，

or durable enough

不夠耐，

to drive solutions to the biggest problems in our world today

因此無法針對現今世界上 最大的問題來驅動解決方案，

because it's incremental cost.

因為它是增支成本。

Even when business is booming,

即使在商業景氣的時候，

CSR just isn't designed to scale.

CSR 就不是設計來擴展用的。

And then of course in a downturn,

當然，在經濟衰退時，

it's one of the first programs to be cut.

它就是最先被刪減的方案之一。

So no,

所以，不，

CSR --

CSR──

corporate social responsibility --

企業社會責任──

isn't the answer,

並不是答案。

but TSI --

但，TSI──

total societal impact, is.

總社會影響力，就是答案。

TSI is the sum of all of the ways

TSI 就是把企業能夠影響社會的

business can affect society

所有方式加總在一起，

by doing the real work:

透過實際的工作：

thinking about their supply chains,

思考它們的供應鏈、

working on their product design and manufacturing processes

致力於它們的產品設計及製程，

and their distribution.

以及它們的銷售。

The real work of business,

企業的實際工作，

when done with innovation,

如果在進行時能有所創新，

can actually create core business benefits for the company

就能真的為公司創造出商業利益，

and it can solve the meaningful problems in our world today.

且能解決現今世界上有意義的問題。

So what does TSI look like?

所以，TSI 是什麼樣子的？

Focusing on TSI

把焦點放在 TSI 上，

means incorporating social and environmental considerations.

意味著將社會與環境考量合併起來。

And you know what?

你們知道嗎？

It's something that isn't completely new.

它並不是全新的東西。

It's been thought about for a while.

它已經被考慮一陣子了。

But the hard part is that corporations almost exclusively still think

但難的部分在於， 企業幾乎都仍然只會

about something called TSR:

想著所謂的 TSR：

total shareholder returns.

股東總報酬。

But TSI --

但 TSI ──

total societal impact --

總社會影響力──

needs to stand alongside TSR

得要和 TSR 並肩而行，

as an important and valid driver of corporate strategy

成為重要且有效的驅動因子，

推動企業策略以及企業決策。

and corporate decision-making.

And we've got the data to show you why and how.

我們有資料給各位看， 讓各位了解其原因以及方法。

Some companies are already making this happen.

有些公司已經做到了。

They're beginning to make it happen.

他們開始在進行。

So let me tell you the story about Mars.

讓我告訴各位美商瑪氏食品的故事。

Mars is the sixth-largest private company in the United States.

瑪氏食品是美國第六大的私人公司。

If you're like me,

如果你跟我很像，

they make some important products,

他們做了一些重要的產品，

like coffee and chocolate.

比如咖啡和巧克力。

So not surprisingly,

所以不意外

one of their most important ingredients is cocoa.

他們最重要的原料之一就是可可粉。

And some of their competitors are actually really worried

他們的一些競爭對手真的很擔心

about the sustainability and the availability of cocoa supplies.

可可粉供應的永續性和可得性。

But not Mars.

但瑪氏食品不擔心，

They're confident in the stable supply of that crop for the long term.

他們對那作物的長期 穩定供應很有信心。

And why is that?

為什麼？

It's because they partner with NGOs around the world

因為他們和世界各地的 非政府組織合夥，

that are working with small shareholder farmers.

這些組織和小農合作。

And those certification agency's NGOs

而那些認證的非政府組織

are working to help farmers improve crop yields,

致力於協助農夫改善作物產量，

they're making sure that they get a fair, premium, livable wage

他們會確保農夫能得到 公平、高價、夠生活的薪資，

and they're helping them address any human rights potential issues

他們也協助農夫處理

在供應鏈中任何與人權 相關的潛在議題，

in supply chains,

and they're helping minimize the effects on the environment,

他們也協助將環境的影響降到最低，

like deforestation.

比如森林砍伐的影響。

Mars is on a path to 100 percent certified cocoa,

瑪氏食品正在朝向 100% 使用認證可可粉邁進，

so this is a good program for farming communities,

對於農業社區而言， 這是一個很好的專案，

it's a good program for the environment,

對環境而言，這是一個很好的專案，

and it's a good program for Mars,

對瑪氏食品而言， 這是一個很好的專案，

who has solved a significant risk in their supply chain.

瑪氏食品解決了 其供應鏈中的一個大風險。

But now let's get to the data,

但，現在，我們來看看資料，

because it's actually really awesome.

因為它其實很了得。

And let me explain exactly what the data points I'm going to talk about are.

讓我解釋一下，我等等 要談的資料點到底是什麼。

When analysts and financial people look at companies,

當分析師和金融人員在研究公司時，

they think about a lot of different statistics.

他們會想著很多不同的統計數字。

I want to talk about two of the most important ones.

我想要談其中最重要的兩項。

I'm going to talk about the overall value of a company --

我要談談公司的整體價值──

its valuation --

它的估價──

and I'm going to talk about its margin.

然後我要談談它的利潤。

Basically the difference between all of its earnings

基本上，就是它所有的收入

and all of its costs.

減去它所有的成本。

So in our study,

在我們的研究中，

we looked at oil and gas companies,

我們研究的是石油天然氣公司，

and the oil and gas companies

而這些公司當中，

that are performing most strongly on TSI --

在 TSI ──總社會影響力──方面

total societal impact --

表現最出色的，

see a 19 percent premium on their valuation.

在公司的估價上會增加 19%。

19 percent.

19%。

When they do really well

當他們在比如

on things like minimizing the impact of their company

將公司對於環境和水的影響減到最低

on the environment and water,

這些方面做得很好時，

and when they have very strong occupational health and safety programs.

以及當他們有非常強力的 職業健康和安全計畫時，

And when they also add in strong employee training programs,

以及當他們也納入強力的 員工訓練計畫時，

they get a 3.4 percentage point premium on their margins.

他們在利潤上會增加 3.4%。

But what about other industries?

但其他產業呢？

Biopharmaceutical companies that are the strongest performers on TSI

在 TSI 有出色表現的生物製藥公司，

see a 12 percent premium on their valuation.

在估價上會增加 12%。

And then if they're best at expanded access to medicines --

如果他們在拓展 藥品的取得上做得最好──

making medicines available for the people who need them --

讓需要藥品的人能取得藥品──

they see a 6.7 percentage point premium on their gross margins.

他們的毛利就會增加 6.7%。

For the retail banks that are strongest on TSI,

至於 TSI 最強的零售銀行，

they see a three percentage point premium on their valuation,

他們的估價會增加 3%，

and then for those that differentially provide financial inclusion --

若銀行明顯提供普惠金融──

access to financial products for people who need it --

讓需要金融產品的人 能取得金融產品──

they see a 0.5 percentage point premium in their net income margin.

他們的淨利會增加 0.5%。

Now, these numbers for banks may not seem very big,

對銀行來說，這些數字似乎不大，

but in highly competitive industries,

但在競爭極激烈的產業中，

even really small differences in margin matter a lot.

即使是很小的利潤差異也相當重要。

Now, what about those consumer goods companies --

那消費品公司呢？

the ones who make those products we love like coffee and chocolate?

做像咖啡和巧克力這些 我們喜愛的產品的公司呢？

Consumer goods companies that perform best on total societal impact

在 TSI 方面有最佳表現的 消費品公司，

see an 11 percent valuation premium.

估價會增加 11%。

And then if they do those smart things with their supply chain --

如果他們能用他們的 供應鏈來做聰明的事──

inclusive and responsibly sourcing their product --

負責任地取得他們的產品──

they see a 4.8 percentage point premium on their gross margins.

他們的毛利會增加 4.8%。

These numbers are significant.

這些數字都很顯著。

We've long known that things like fundamental financials,

長久以來我們都知道， 包括像基礎財務指標、

growth rates and financial risks are key drivers of valuation,

成長率，及財務風險， 都是估價的關鍵驅動因子，

but this rigorous analysis shows that social and environmental factors --

但這項嚴密的分析顯示， 社會和環境因子──

total societal impact measures --

總社會影響力測量值──

are also linked to valuations and margins.

也和估價及利潤有關。

Wow.

哇！

All else equal --

所有其他條件相同時──

we didn't confuse the analysis with anything.

我們不會把這項分析 和任何東西搞混。

All else being equal,

所有其他條件相同時，

companies that perform strongly on social and environmental areas

在社會與環境領域表現出色的公司

achieve higher margins

會達到比較高的利潤，

and higher valuations.

以及比較高的估價。

Now, I do understand

我確實了解，

that companies are under a lot of short-term earnings pressures.

公司會受到許多短期獲利的壓力。

But fortunately,

但，幸運的是，

the investors who create some of this pressure

這些壓力有部分是由投資者所造成，

are actually more and more themselves starting to think longer-term

而這些投資者自己 也開始做更長遠的思考，

and starting to think with this TSI lens.

開始從 TSI 的角度思考。

In our conversations and surveys with investors,

在我們針對投資者 所做的對談以及調查中，

75 percent of them say they expect to see improved revenues

75% 的投資者說， 他們預期收入會增加，

and improved operating efficiency

營運效率上會有所改善，

for companies that are thinking with a TSI lens.

只要公司能從 TSI 角度思考。

And they're actually starting to incorporate this

他們其實已經開始將之整合到

in their own investing behavior.

他們自己的投資行為中。

Last year,

去年，

23 trillion in global assets

全球資產中有 23 兆

were in the category of socially responsible investing.

是屬於對社會負責的投資類別。

Now, that's five billion over just the last two years.

也就是說，僅僅在 過去兩年就有 50 億。

And it represents a quarter of the total global assets managed in the world.

且它代表全世界受管理的 全球總資產的四分之一。

I know that some of you may be cringing a little bit right now.

我知道，在座有些人 現在可能有一點畏縮。

Because in my decades of strategy consulting

因為，數十年來，我身為策略顧問，

with businesses and NGOs and governments around the world,

提供全世界的企業、非政府組織， 以及政府諮詢，根據這些經驗，

I find that many businesspeople

我發現，許多商業人士

are hesitant to talk or even sometimes think about

很猶豫談論或甚至只是思考

the business benefits of doing good.

做好事帶來的商業利益。

They somehow think it's going to negate the value

不知怎麼的， 他們認為這麼做會否定

of the benefits they're creating for society.

他們為社會所創造之利益的價值。

Or that they'll be perceived as heartless or even mercenary.

或者，他們會被認為是 無情或甚至在從中圖利。

But we really do need to think differently.

但我們真的需要用不同的方式思考。

We need to think differently

我們需要用不同的方式思考，

because the only way we're going to make substantial progress

因為，對於我們時代的挑戰性問題，

on the challenging problems of our time

只有一種方式能帶來真正的進步，

is for business to drive the solutions.

那就是由企業來推動解決方案。

The job of business is to meet customer needs

企業的工作是要滿足客戶的需求，

and to do so profitably.

且以能獲利的方式來做這件事。

They need to to survive.

企業需要生存。

So one of the best ways for businesses to help ensure their own growth,

能協助企業確保自身成長、 活得長久的最佳方式之一，

their own longevity,

is to meet some of the hardest challenges in our society

就是要去面對我們社會中 最困難的一些挑戰，

and to do so profitably.

且以能獲利的方式來做這件事。

And when they do that innovatively,

當企業這麼做時， 若能採用創新的方式、

when they do that ethically, responsibly, incredibly,

道德的方式、負責的方式、 了不起的方式，

they should be proud.

它們應該感到驕傲。

But if you still aren't sure about this,

但如果你仍然覺得不太確定，

let's talk about a few more examples.

我們再來談幾個例子。

What if you're a technology company

如果你是一間科技公司，

and you're trying to grow your platform

如果你在試著讓你的平台成長，

and you're trying to grow your customers?

試著讓你的客戶成長，要如何做？

Like, Airbnb.

以民宿出租網站 Airbnb 為例。

Airbnb has a portfolio of total societal impact activities.

Airbnb 有一個 總社會影響的計畫組合。

They're all spot-on their core business.

他們都針對其核心事業。

In one initiative,

在一項計畫中，

they're helping enable their community

他們協助讓他們的社區

to provide housing for free to those in disaster:

能夠免費提供住房給受災戶：

crisis survivors and relief workers.

危機倖存者以及救災工作人員。

In another effort on their part,

他們還做了一項努力，

they're actually helping and working with NGOs

他們真的去協助 非政府組織，與其合作，

to ensure that people can provide housing for free for refugees.

來確保人們能夠免費 提供住房給難民。

Now, what I love about this program

對這項專案，我最喜歡的一點在於

is that I don't think most people would've figured out

我不認為大部分人想得出

how to express their generosity

要如何表達他們的慷慨，

and open their homes for those in such dire need --

並開放他們的家 給那些有迫切需求的人──

certainly not so quickly or so easily or efficiently --

肯定無法如此快速、 簡單，或有效地做到──

without this innovation by Airbnb.

沒有 Airbnb 的創新， 就無法做到這樣。

But at the same time,

但，同時，

this is core to their corporate strategy

這是他們公司策略的精髓，

and core to their growth

以及成長的核心，

because they grow by increasing the number of hosts and guests

因為他們成長的方式是

增加使用他們平台的 主人與客人數目。

using their platform.

But if they'd only been thinking exclusively

但如果他們一心只想著

about the return side of things,

事情的報酬面，

I'm not sure they would have ever figured out this route to growth,

我不確定他們是否 有可能想出這條成長路線，

because they're not charging transaction fees.

因為他們並沒有收取交易費用。

So it's a pretty exciting way,

所以，這方式很讓人興奮，

when they were thinking about how to bring their capabilities

他們想著要如何將他們的能力帶給

to a need in society

社會上的需求，

and at the same time drive their own growth.

同時還要帶動他們自己的成長。

But what if you're trying to find new customer segments?

但如果你想要找到新的客戶群呢？

Let's move to South Africa,

我們移師到南非，

and let's talk about Standard Bank.

來談談那裡的標準銀行 （Standard Bank）。

In South Africa,

在南非，

the government has a regulation

政府有一項規定，

that requires all banks to donate 0.2 percent of their profits

所有銀行都要捐出利潤的 0.2%

to small and medium black-owned enterprises.

給黑人所擁有的中小型企業。

And many banks just donate this to the entrepreneurs,

很多銀行就把這筆錢捐給企業家，

but Standard Bank thought creatively.

但標準銀行的想法很有創意。

And what they did is they took those funds

他們的做法是，把這筆資金

and they invested them in an independent trust,

投資到獨立信託，

and they used that trust to fund loans to these black entrepreneurs.

再用那信託提供貸款 來資助黑人企業家。

This is a highly leveraged model.

這是個成效很高的模型。

They can support a lot more entrepreneurs with capital,

他們能支助更多企業家 他們需要的資本，

and because their success is completely intertwined

而且，因為他們的成功完完全全

with the success of the entrepreneurs,

和企業家的成功交織在一起，

they're actually also using the fund to provide technical assistance.

他們也會用那筆資金 來提供技術協助。

More entrepreneurs supported,

更多企業家得到支援，

more people and communities being lifted out of poverty.

更多人民及社區得以脫離貧困。

And it's successful for Standard Bank.

對標準銀行而言，也是種成功。

So successful that they're actually working on expanding this program

他們成功的程度到了 他們已經開始拓展這個計畫

to other areas in their portfolio.

到他們投資組合的其他部分。

It's not like we haven't been trying to solve the problems in our world

長久以來，我們並不是 沒有嘗試過要解決

for a long time.

世界上的問題。

We have, and they're still here.

我們試過了，但問題仍然在。

We're making progress,

我們有所進展，

but it's not far enough,

但進展得不夠遠，

or fast enough,

也不夠快，

or universal enough.

且不夠普及。

We need to flip our thinking.

我們得要翻轉我們的思考。

We need to have business --

我們得要讓企業──

both companies and investors --

包括公司以及投資者──

bring creative, innovative corporate strategy and capital

帶來有創意且創新的 公司策略及資本，

to solving the biggest problems in our world.

來解決我們世界上最大的問題。

And when they do that innovatively,

當它們用創新的方式這麼做時，

and when they do that

當它們投入它們的

with all of their thinking and all of their strategy

所有思考、所有策略，

and all of their capital,

以及所有資本來這麼做時，

and they're creating both total shareholder returns

且它們能同時創造股東總報酬

and total societal impact,

以及總社會影響力時，

we know that we will solve those problems,

我們就會知道， 我們能解決那些問題，

both profitably and generously.

以能獲利又慷慨的方式做到。

Thank you.

謝謝。

(Applause)

（掌聲）