< PreviousThe Purpose Business Advancing organizational purpose in Asia 40 MAKE THE WORLD BETTER MAGAZINES ustainable development and purpose are intrinsically linked, and organizational purpose lends clarity and direction to the role companies can play in making a positive impact. Yet, business-as- usual and profi t-centric models are hard to dethrone, especially when belief gaps exist around the power of purpose in business. We spoke with Pat Dwyer, Founder of The Purpose Business, about how this company is getting more businesses in Asia on board with organizational purpose and propelling them toward a sustainable future. What inspired you to start advocating for the Wellbeing Economy? In 2015, when Th e Purpose Business (TPB) was established in Hong Kong, the concept of organi- zational purpose was a pipe dream. At best, it was seen as trivial and no more than a marketing ploy. Despite strong headwinds, we were resolute in our conviction that sustainable business practices and the overarching goal of enhancing the wellbe- ing of people and planet can only be achieved by starting with clarity and activating a company's intrinsic “why.” Our journey began in the early days of corpo- rate social responsibility (CSR), then the best ex- pression of business contribution to social good. We recognized CSR as a fi rst step was largely limited and didn’t encompass the business model transformation necessary for sustainable business practices to thrive. We saw an educational and be- lief gap around the role and power of purpose in business, presenting us with an exciting opportu- nity to lead the way in integrating purpose-driven practices in Asia. We are determined to demonstrate that pur- pose is a critical lever for strategic change, not a peripheral consideration, and we are committed to guiding leaders to bridge the gap between cor- porate aspirations and action in order to propel organizations toward a sustainable future. What do you consider to be your biggest success as an advocate and professional in this space? Can you share any stories of the impact your work has had that have surprised you? TPB was born out of our genuine belief that busi- nesses in Asia will one day be responsible business exemplars, surpassing the most admired Western companies. Within our fi rst two years, TPB was working with Asia’s most established homegrown brands, listed companies, and multinationals who wanted localized impact. We've witnessed remarkable shifts in our clients over the past eight years, moving from extreme conservatism to viewing sustainability as a strategic imperative. We’re also experiencing, in real-time, the positive impacts of our eff orts to advance organizational purpose as a tool for responsible businesses in Asia, both through our client work1 and educational outreach. We are particularly proud of our “Purpose and Values” work with the Philippines-based company, Universal Robina Corporation (URC),2 one of the largest branded consumer food and beverage product companies in the Philippines. Together with our strategic partner Within People,3 we helped URC to craft its purpose statement and related values and ambition to be a beacon for the company as a responsible business actor. We knew from the start that raising awareness and investing in education for our wider audience — focused on corporate sustainability imperatives and the critical role of organizational purpose in driving change — had to be a key part of our Pat Dwyer, Founder and Director of the Purpose Business and Purpose and Sustainability Leader. We are determined to demonstrate that purpose is a critical lever for strategic change, not a peripheral consideration, and we are committed to guiding leaders to bridge the gap between corporate aspirations and action in order to propel organizations toward a sustainable future. APRIL 2024 • ISSUE 07 41off erings. We were among the fi rst to introduce ori- entation sessions on the United Nations Sustainable Development Goals (SDGs) in Asia, hosting events in Hong Kong and Manila to inspire companies to align with these global goals. Part of our ongoing educational off erings include our signature “Breakfast with Purpose” events, which feature highly engaging speakers and facilitate inti- mate dialogue touching on some of the most pressing sustainability issues. How do you feel that shifting to a Wellbeing Economy will help make the world better? Sustainable development is intrinsically linked to purpose. If sustainability is about securing an equita- ble future that espouses wellbeing for all people and planet, then organizational purpose brings clarity to the role that businesses play in delivering positive impact. Th e cost of clinging to short-term profi t maximization is untenable. Industry leaders who understand this are stepping forward, using organi- zational purpose as a strategic tool to stay ahead and align with societal and systemic pressures. Amidst the complexities of sustainability, purpose provides clarity and direction. It's not just about ratings or superfi cial metrics; purpose positions us to make better investment decisions, rethinking business models that have traditionally been profi t-centric. Th is shift allows us to move beyond shareholder supremacy, focusing on the wellbeing of all stakehold- ers. A truly purposeful organization is the gold stan- dard for enterprises aligned with a sustainable future — it off ers a blueprint for businesses to thrive while contributing positively to the planet and its people. What are some of the challenges you typically face in advocating for the Wellbeing Economy? Old habits die hard, and this is even truer for entrenched business-as-usual models. Globally, there's broad consensus that our current path is unsustainable, and while there's general agreement on what sustainability requires, the path to achieving it is less clear. Organizational purpose off ers a way forward, serving as a moral compass for businesses and prompting crucial decisions, particularly at the C-suite level. However, this transformation challenges deep-seated successes built around traditional leader- ship styles. Implementing purpose as a core strategy involves rethinking business models and operational process- es, and this requires an overhaul of everything we currently know. Resistance to change, whether due to skepticism or inertia, is a natural obstacle, especially when nothing seems to be broken. We know that ultimately we need to shift business models to lon- ger-term thinking — and that includes accepting the cost of capital, investing in longer-term horizons, and non-stop education and eff ective communication. The Purpose Business (TPB) conducting one of many "The Why" and "The What" of Organizational Purpose sessions with senior corporate leaders in Asia. This session took place in Singapore. We've witnessed remarkable shifts in our clients over the past eight years, moving from extreme conservatism to viewing sustainability as a strategic imperative. 42 MAKE THE WORLD BETTER MAGAZINE1. Check out thepurposebusiness.com/case-studies. 2. Visit the Universal Robina website, urc.com.ph. 3. Learn more about Within People at withinpeople.com. Measuring the impact of purpose-driven initiatives demands a mindset shift in the way we think of re- ward structures and returns on investment, along with the utmost transparency. While fi nancial metrics are well-established for traditional business models, quan- tifying long-term societal and environmental impacts remains a challenge. Developing robust metrics for these areas is crucial for validating the approach and encouraging wider adoption. In Asia, advocating for purpose is further chal- lenged by continued population and economic growth, which translates into an increasing demand for resources and energy. As the world’s largest energy consumer with an industry-heavy economy, companies in Asia face the complex challenge of balancing grow- ing energy needs with the imperative to decarbonize. Are there any upcoming initiatives or projects related to your work/the Wellbeing Economy you'd like to share? As we live up to our purpose of guiding leaders to elevate businesses in Asia as a force for good, we intend to be the convening entity of Asia’s brain trust of purpose in action. Th is means engaging with, learning from, and facilitating the open exchange of experience and learnings, as well as addressing the challenges that purpose transformation confronts in our ever-growing markets. To this end, we were thrilled to kick off 2024 with a webinar on how to put purpose into action, featuring case studies and best practice sharing from purpose-driven companies from the UK and Asia. Th is is just the fi rst of several educational events we have planned for 2024, with purpose and sustainability at the forefront. What can people do to help spread the word about or take action toward transitioning to the Wellbeing Economy? How can they support your mission? It’s essential to fi rst understand and internalize the concept of organizational purpose. Th is is a radical shift away from business-as-usual models. It puts aside profi t maximization as the key driver for business and considers how a company contributes to the broader wellbeing of people and planet. How is shared stake- holder value created to ensure resilience and produc- tivity for generations to come? People can advocate for this shift at every level, but it's particularly crucial at the C-suite level. Leadership must champion, articulate, and live purpose in every decision and policy. Th is isn't just about having a purpose statement; it’s about evaluating how much of your business is shifting toward sustainability and purpose, and how deeply these values are embedded in your operations and culture. Ultimately, whether we are thinking through our lens as individuals or as employees, it’s about align- ing with the greater good — shifting the focus from "what's in it for me" to "what's in it for all." thepurposebusiness.com linkedin.com/company/the-purpose-business A truly purposeful organization is the gold standard for enterprises aligned with a sustainable future — it offers a blueprint for businesses to thrive while contributing positively to the planet and its people. This isn't just about having a purpose statement; it’s about evaluating how much of your business is shifting toward sustainability and purpose, and how deeply these values are embedded in your operations and culture. APRIL 2024 • ISSUE 07 43ORGANIZATIONAL PURPOSE IN ACTION THE WELLBEING ECONOMY More and more companies are actively changing course to embed and practice organizational purpose, as demonstrated by the B Corp Movement . B Corporations are certified purpose-driven businesses that are contributing to the global transition to a Wellbeing Economy to benefit all people, communities, and the planet. Since January 2020, B Lab Global has received more than 6,000 applications for certification from businesses, a 38% increase from the 2018-2019 period. 1 Currently, there are over 8,000 B Corps across 96 countries and 162 industries with over 700,000 employees, worldwide. 2 Sources: 1. B Lab Europe 2. B Corporation 44 MAKE THE WORLD BETTER MAGAZINESource: 1. B Lab Global 2022 Annual Report By following best practices when it comes to social issues, the environment, and governance, B Corps are a powerful force in driving positive change. B Corps are 3.9x more likely to explicitly incorporate social and environmental performance into managers’ job descriptions and 2.4x more likely to include social or environmental issues material in employee training. 1 The focus on purpose, good governance, and long-term sustainability for all extends beyond certified B Corps. As of 2022, 15,000 businesses globally are now benefit corporations or local equivalents. 1 Together, we can drive change at all levels and pave the way for a global Wellbeing Economy . FACTS APRIL 2024 • ISSUE 07 45Anglian Water Embedding purpose to achieve wellbeing in the water industry 46 MAKE THE WORLD BETTER MAGAZINEA mid the complex and pressing crises facing our world, an inescapable truth has become clear: business as usual will not solve today’s biggest challenges. To overcome our collective crises and contribute to the wellbeing of people and planet, we need to reorient our business models around purpose. We spoke with Andy Brown, Group Chief Sustainability Offi cer of Anglian Water, a water company that operates in the East of England, about how this company changed its model to set purpose at the heart of its constitution and is demonstrating that it works. What inspired your founders to start advocating for the Wellbeing Economy? Anglian Water has always believed that we should be a purpose-led business contributing to a Wellbeing Economy. But it was the realization of the impacts of the changing climate and the growing population that crystalized the fact that we could not continue with business as usual. Th e year 2010 saw us start to make real changes, as we brought our sustainability strategy and our business plan together to create a single sustainable business plan based around 10 environmental and social outcomes that we had co-created with our customers. Th e next step came in 2019 when we created our pur- pose: “to bring environmental and social prosperity to the region we serve.” Th is was not a statement to put up be- hind reception in our head offi ce; this was built into our constitution as we amended our Articles of Association. What do you consider to be your biggest success as an advocate and professional in this space? Can you share any stories of the impact your work has had that have surprised you? When we changed our Articles of Association to embed our purpose, our board also stated that they wanted to be held accountable to a set of responsible business principles. I was tasked with reviewing and recommend- ing these, but nothing seemed to really get to the heart of what it meant to be a purpose-driven organization and deliver against the Wellbeing Economy. So, we approached the British Standards Institution about creating something new. What followed was the develop- ment of a partnership and the creation of a new Publicly Available Specifi cation, PAS 808:2022 Purpose-driven organizations. Worldviews, principles and behaviours for delivering sustainability.1 After two years of development, input from a brilliant cross-sector steering group, comments from a public consultation, and great guidance from our Technical Author, Dr. Victoria Hurth, it was launched in 2022. Since that time, I have been involved in promoting it throughout the UK and have established a community of practice that includes more than 100 individuals from organizations large and small. I have been asked to speak about it to sustainability consultants who want to use it to support their clients, to banks who are considering how it can improve their approach, food producers who think it can demonstrate their sustainability credentials, and by a university that is using it as the framework for their new social purpose. What surprised me was, despite the complexity of the subject, the immediate and widespread interest in the framework. How do you feel that shifting to a Wellbeing Economy will help make the world better? Th e challenges that we face from a changing climate, a biodiversity crisis, and population growth are too great for us to meet by maintaining the status quo. So, we have to reposition ourselves and our organizations to under- stand that to survive and thrive we have to maintain and enhance the wellbeing of the environment and the communities that rely on it. Making a fair return for our activities should not be incompatible with that, but our meta-purpose must be to make a positive diff erence in the world in which we live. We created our purpose: “to bring environmental and social prosperity to the region we serve.” This was not a statement to put up behind reception in our head office; this was built into our constitution as we amended our Articles of Association. The solar installation at the Grafh am Water reservoir in Cambridgeshire now generates 11 GWh of solar energy annually, enough clean electricity to power more than 3,000 homes a year. It is made up of 43,000 solar panels across 465 tables and 250 miles of cable, which feed directly into the Grafh am Water Treatment Works. APRIL 2024 • ISSUE 07 47But for this meta-purpose to be achieved, all organizations need to get to this point of realization. I guess I see this shift in business model and a move to a Wellbeing Economy as fundamental in addressing and reversing the challenges that the planet and all of us who live on it face today. What are some of the challenges you typically face in advocating for the Wellbeing Economy? We are trying to change a well-established norm and that is always a challenge, but the evidence to drive change simply gets clearer year over year. As a busi- ness that plans for the longer term, with a Strategic Direction Statement and a Long-Term Delivery Strategy that both look 25 years into the future, it is perhaps easier for us to understand the risks that we face and the inescapable truth that our business model needed to change. For others that are focused pure- ly on the short term, this can often be much harder to grasp. Th e decision to focus on purpose and the deliv- ery of a Wellbeing Economy has to be made in the boardroom, and so the role of peer advocacy is critical; CEOs, CFOs, and CSOs in organizations that have made the change must stand up and be counted. But increasing focus from the investment community and frameworks such as the Task Force on Climate-related Financial Disclosures, the Taskforce on Nature-related Financial Disclosures, and the Sustainable Finance Disclosure Regulation are also raising the profi le of these issues at the board. Are there any upcoming initiatives or projects related to your work/the Wellbeing Economy you'd like to share? As an industry, there are many exciting technical de- velopments, including the movement from tradition- ally-built treatment solutions to nature-based solutions and the rapid scaling up, the creation of digital twins in ecological catchments to help us make better decisions, great strides in the development of real-time monitor- ing and sharing of data, the creation of water smart communities,2 and even the role of sewage in creating sustainable aviation fuel. For me, though, it still comes We have to reposition ourselves and our organizations to understand that to survive and thrive we have to maintain and enhance the wellbeing of the environment and the communities that rely on it. Andy Brown talking with an attendee at the Sustainable Schools Conference in May 2023. 48 MAKE THE WORLD BETTER MAGAZINE1. The British Standards Institution. (2022). PAS 808:2022 Purpose-driven organizations. Worldviews, principles and behaviours for delivering sustainability. 2. Anglian Water. (n.d.). Water Smart Communities. 3. See “PAS 808: purpose-driven organisations” public group on LinkedIn at linkedin.com/groups/12693671. back to the basics of changing the business model and demonstrating that it works. We have been reviewing ourselves against PAS 808 and this has just been independently assessed by BSI, and we will share this assessment in 2024. Even though we had changed our Articles of Association, built our culture and values on this purpose, developed a six capitals ap- proach to our investment decision-making, and changed our reward policies to support our purpose, we still found further areas for improvement. We want to share this so that other organizations can see how this can lead to developments and improve- ments in how you operate. What can people do to help spread the word about or take action toward transitioning to the Wellbeing Economy? How can they support your mission? Although PAS 808 was produced in the UK, it's applicable to any organization anywhere in the world. So, I would say start with downloading and reading that; it was such an important subject that we agreed with BSI that it should be free to ac- cess. It doesn't matter where you and your organization are on this journey, it can be used as a framework to establish your purpose, challenge and evolve your current purpose, or evaluate the success of your purpose and assess how you are displaying the behaviours of a purpose-driven or- ganization and if that is supporting the meta-purpose of the Wellbeing Economy. Th en I would say join the “PAS 808: purpose-driven organisations”3 com- munity of practice on LinkedIn, where you can share your thoughts and hear the experiences of others who are trying to embed purpose and work toward a Wellbeing Economy. And of course, we can all use a bit of moral support, and this group can give that too. anglianwater.co.uk facebook.com/AnglianWater twitter.com/AnglianWater (@AnglianWater) linkedin.com/company/anglianwater instagram.com/anglianwater (@anglianwater) youtube.com/loveeverydrop (@anglianwater) Anglian Water’s Ingoldisthorpe Wetland. Unveiled in 2018 and created in partnership with Norfolk River’s Trust, their fl agship wetland was the fi rst of its kind in England and naturally cleans 1.4 million litres of water a day. Treated water passes from Anglian’s recycling centre to the wetland to be fi ltered even more and gets cleaned by the wetland plants before it’s returned to the River Ingol. To ensure their region has the best resilience against climate change, Anglian is working toward 26 new wetlands by 2030. APRIL 2024 • ISSUE 07 49Next >