Business for Inclusive Growth
Business for Inclusive Growth (B4IG) is a partnership between the OECD and a global, CEO-led coalition of companies fighting against inequalities of income and opportunities.
More and more people in all societies are being left behind, not able to benefit from the immense wealth created by globalisation and technology. In the context of the COVID-19 crisis, this fight against inequality is more necessary than ever. B4IG is united in helping to build stronger and more inclusive business models.
As a Strategic Partner, the OECD supports B4IG by coordinating with governments and leveraging its data, analysis, and global standards.
Mathias Cormann, OECD Secretary-General, Co-Chair of B4IG Board
“As a Strategic Partner, the OECD works with B4IG companies to help them comply with OECD guidelines and established standards, while drawing from OECD research to support B4IG’s implementation of the Pledge. Our support ensures that the B4IG orientations are well aligned with policy perspectives, and allows our Organisation to provide continuing feedback on what is efficient, and where improvements could be made. B4IG’s private-public alliance is critical now more than ever to address inequalities and create opportunities for all. It is central to a strong and more inclusive recovery, with green strings attached.”
Emmanuel Faber, Co-Chair of B4IG Board
“Middle-class is shrinking in most G7 countries, whereas it is the foundation of market economy around the world. And we know that beyond a certain threshold, inequalities are economically damaging. Smartphones used by gen Z make inequalities more visible than ever, and shift social consensus. The result is that market economy will not last without more inclusiveness. It’s not a matter of ideology, it is a hard realism that calls us to a collective and inclusive action, for both governments and companies. With B4IG, our aim is to build a constructive dialogue to advance social inclusion, pilot and scale innovative, inclusive micro-economic business models, and thereby contribute to inform macroeconomic policies.”
The Pledge
Chairpersons and CEOs of B4IG member companies have all signed the Pledge outlining B4IG’s work programme and detailing the key areas supported by the OECD’s inclusive growth work. These include:
ADVANCING HUMAN RIGHTS IN DIRECT OPERATIONS AND SUPPLY CHAINS
> OECD Due Diligence Guidance for Responsible Business Conduct
BUILDING INCLUSIVE WORKPLACES
> Jobs Strategy
> OECD Employment Outlook: the Future of Work
> Going Digital
> All Hands In? Making Diversity Work for All
STRENGTHENING INCLUSION IN COMPANY VALUE CHAINS & ECOSYSTEMS
> International trade and balance of payments statistics
> Making the Green Recovery Work for Jobs, Income and Growth
DEVELOPING ADAPTED TOOLS TO MEASURE AND VALUE THE IMPACT OF INCLUSIVE BUSINESS
> Social Impact Investment Initiative
> FDI Qualities Toolkit: Measuring the sustainable development impacts of investment
> Social Impact Investment: The Impact Imperative for Sustainable Development
> Managing and measuring the impact of sustainable investments: A two-axes mapping
Further OECD guidance underpinning the B4IG Pledge
Beyond its inclusive growth work, the OECD has developed a number of frameworks, standards and guidelines that feed and underpin the B4IG Pledge, including:
> Policy Framework for Action on Inclusive Growth
> Ministerial Council Meetings
> Business and Finance Outlook
> Principles for Public Governance of PPPs
> Tax Inspectors Without Borders
> OECD and the Sustainable Development Goals
> The OECD Recommendation on Policy Coherence for Sustainable Development (PCSD)
Delivering on B4IG objectives through...
Working Groups are comprised of representatives from member companies working with experts from the OECD as well as partners and academics, with the aim to create and share knowledge on inclusive growth.
The Incubator selects projects developed by member companies and tests, accelerates and scales novel approaches to inclusive growth.
The Financing Forum brings together funding sources and acts as a marketplace for impact investors, national authorities and corporations seeking inclusive growth financing opportunities.
The OECD supports this work and the implementation of the Pledge by:
> Providing research, guidelines and established standards for companies to draw upon.
> Ensuring that B4IG initiatives are well aligned with public policy perspectives among OECD member countries.
> Hosting and participating in regular meetings for the different internal B4IG committees throughout the year, including bi-annual CEO Board Meetings and an annual workshop.
OECD Centre on Well-being, Inclusion, Sustainability and Equal Opportunity (WISE)
The OECD work on B4IG is led by the Centre on Well-being, Inclusion, Sustainability and Equal Opportunity (WISE) that aims to strengthen the measurement of well-being, inequalities, inclusion and sustainability, as well as better understanding the impact that policies and business actions have on people’s lives today, and on the sustainability of well-being over time.
> Download WISE's mission (PDF)
More information
Read the press releases
> "B4IG takes action for an inclusive recovery" (November 2020)
> "The B4IG international coalition united against the inequalities deepened by the COVID-19 pandemic" (français) (May 2020)
> “Business pledging against inequalities at the G7 summit 2019”: OECD press release and Business coalition press release (Aug. 2019)
Consult the Business for Inclusive Growth website (B4IG)
Contact
For more information or questions, contact us at: wellbeing@oecd.org