How Ethics Went Mainstream
Making a profit is not enough: fashion brands in the 2020s must demonstrate they are doing good, but achieving the right balance is no easy matter. In double-quick time, says Christina Binkley in this Vogue Business article, the ethical dimension of building a business has turned into a top priority.
Launching a profitable fashion company has always been tricky, but it’s no longer enough to be profitable when so many consumers want brands to meet ethical standards that are new, and often challenging, to the world of for-profit enterprise.
Binkley says “retailers and consumers are now showered with brands making claims about their charitable donations and partnerships, their better treatment of workers and their fair-trade policies, and their shrinking water use, chemical use or carbon footprints.” This push toward more accountable, conscientious and ethical business has powerful backers such as Larry Fink, chairman and chief executive of BlackRock. But the speed of the transition of the ESG movement from niche to mainstream during the pandemic means the market is behaving a lot like a Wild West, with hundreds of sheriffs and an immature judicial system. So how do consumers and businesses navigate the confusing waters?
Vogue Business, Christina Binkley, 8 March 2021. Read the full article here.
Cranlana Centre for Ethical Leadership’s programs include the 2 day Executive Ethics, 6 day Executive Colloquium and year-long Vincent Fairfax Fellowship. We also deliver online and tailored corporate programs. Find the right program for you. They are all held under the Chatham House Rule to encourage genuine and open debate, and allow participants to candidly discuss sometimes sensitive issues in private while allowing the topic and nature of the debate to be made public, and contribute to a broader conversation. The alumni program offers ongoing leadership development support and a lifelong connection with Cranlana.
Image by Winifred Goddard