Financial and Accounting Emerging Boardroom Risk: Ignoring SOCIAL PURPOSE strategies at your peril (CSR, ESG models in transition – how are you navigating this risk?)
GTA Accountants Network (GTAAN), GTA Finance Network (GTAFN) and the Institute of Corporate Directors (York Region) invite you to a discussion on how your Board can manage this emerging new RISK – ‘social purpose’ as an integral part of corporate strategy. The imminent threats of nano-second social media activists and seemingly ‘heretic’ stakeholder demands - can devastate ill-prepared Boards.
6 Nov 2018, 3:00 PM
2 CPD hours
Shareholder dominance was once the unshakeable foundation of governance, but tectonic plates are shifting to now include societal dominance. European firms are already required to report “social value”. Larry Fink, CEO of BlackRock, the worlds largest asset manager said “society demands that companies serve a social purpose. To prosper …. they must not only deliver financial performance, but show how they contribute to society”. Evidence is growing that an organization’s duty to society will become at least as important as its duty to shareholders – time will tell how tortuous the path. That ‘social context’ evolution brings with it several risks that NFP and Corporate Board directors must recognize and manage. The Gen Z workforce, millennials and committed activists expect companies to serve a social purpose and will quickly punish organizations that don’t do that. Relying solely on shareholder pre-eminence, may inadvertently create catastrophic brand risk by ignoring the societal context. By attending, you will learn how your Board can navigate this emerging risk.
Our panelists will address:
- Hot-button issues Boards will need to consider and address.
- Economic and policy implications of rebalancing benefits to shareholders and society.
- Partnership innovation needed to survive and thrive on this new foundation.
On Friday morning, October 19, Telus CEO made a bold announcement – inception of a $120 million Foundation tackling marginalized Canadian youth and kids in government care (foster kids). This is precisely the social action we are talking about on Nov 6th, 2018. As Larry Fink would say – “strategic action on social purpose”! This is a big moment for Canada – both Bell and Telus are taking on highly complex social problems and firmly attaching their brand to it - two iconic Canadian Brands making pivotal moves. (Bell – mental health). Also, for reference, BMO locations has partnered with Plan Canada I AM A GIRL, wearing pink campaign shirts.
The Nov. 6 panel, with its Canadian leaders, will address the EMERGING BOARDROOM RISK: Ignoring “Social Purpose” at your perilThey will provide context and action steps for every attendee using these local, relevant examples. This event, addressing a current, critical business issue is a “must attend” for every corporate leader – For Profit or Not For Profit.
Please note that this is an afternoon event and will be held at the Donalda Club. The structure of the event is as follows:
- Registration – 3:00 p.m.
- Discussion – 3:30 p.m. until 5:30 p.m.
- Networking - 5:30 p.m. to 6:30 p.m.
The cost of the seminar is $60 (+tax), which you can pay by any credit card. You will 2.0 hours of PD credits when you attend a session. We are pleased to offer an easy, inexpensive and enjoyable way to meet your PD requirements.
About the Instructor(s)
Partner and Financial Advisory Public Sector Leader at Deloitte Touche LLP, and the firm’sNational Social Finance Leader. Mr. Ciufo is a recognized leading expert in Public Private Partnerships (PPP).
Communications Specialist with the Southern Authority Network of Care in Manitoba (a child
and family services organization responsible for about 6,000 youth). Mr. Compton is a leader in facilitating First
Nations stakeholder discussions and an experienced communications mediator, currently supporting two
innovation pilot projects
FAITH GOODMAN, BSc, BEd, MBA, ICD.D —CEO, Board Director and Founder of an award-winning national
charity, Until The Last Child. Ms. Goodman’s 35 years of energy sector experience, along with her proven
pioneering work in social policy innovation, provides unique perspectives on board governance and risk
Former Chief Economist, Conference Board of Canada and Senior Fellow at the C.D Howe Institute. Mr. Hodgson is an international economist with a world-view of economic and geo-political disruption and is a highly acclaimed speaker, Globe and Mail guest columnist and regular media commentator.
Author and journalist; former editor-in-chief of The Walrus; former National Post comment pages Editor and columnist and Canadian Editor for Quillette. He is a contributor to the Washington Post, The Atlantic, Newsweek, Foreign Affairs, Maclean’s and The New Yorker.
Former Partner/ Managing Director Ketchum Communications and PR with extensive
experience in crisis management and stakeholder relations related to complex issues.