Contribution to the G7’s Business for Inclusive Growth Coalition
Published August 2019
The Economics of Mutuality is part of the Mars, Incorporated contribution to the G7’s Business for Inclusive Growth Coalition announced on Thursday 22nd August 2019.
The creation of a first-of-its kind Business for Inclusive Growth (B4IG) coalition was officially announced in connection with the G7 summit in France. The new coalition, sponsored by French President Macron, spearheaded by Danone’s CEO Emmanuel Faber and coordinated by the OECD, includes 34 leading multinational corporations with a combined revenue of over $1 trillion. B4IG members together are committing to initially invest $1 billion in over 50 inclusive growth initiatives.
Part of the Mars, Incorporated contribution to B4IG is the Economics of Mutuality (EoM), an inclusive growth business model innovation being tested across different business units in mature, developing and less developed markets around the world. EoM has been at the centre of a 5-year joint research partnership with Oxford University that has yielded inclusive growth-related MBA curricula, academic papers, case studies, executive education courses and an annual Mars-Oxford forum to share practical learnings among like-purposed corporations. EoM is also being taught at Sciences Po Management School in Paris and is the basis of a new partnership with the China-Europe International Business School (CEIBS) in Shanghai.
B4IG aims to address inequality through a multi-stakeholder approach that links corporations, governments and philanthropic entities in the endeavour. Its 3-pronged strategy includes a business incubator to design or expand inclusive growth models, a related financing forum to promote innovative financing mechanisms and a business pledge against inequalities.
Mars CEO, Grant F. Reid, describes how Mutuality is relevant to the B4IG initiative
‘Mutuality, one of the core principles at Mars, is about creating enduring benefits which are shared. It isn’t about philanthropy, but rather an understanding that a business can only be successful if it also enables all of its partners, community and the environment to thrive. That’s why we’re joining the B4IG effort to help create a more inclusive economy which enables greater opportunity for all.’
Loic Moutault, President at Royal Canin, shares how the Economics of Mutuality is relevant to B4IG
‘I could not be more proud of Mars’s active participation to the B4IG! This initiative is evidence of our commitment to advance human rights, build an inclusive workplace, and strengthen inclusion in company value chains and business ecosystems. For us, joining this group is a testimony of our decade long work on Economics of Mutuality and an extension of our ambition to build a Sustainable in a Generation business, encouraging a healthy planet, supporting people and a better world for pets.’
Photo [edited]: Emmanuel Macron, President of the French Republic