Publications

The financial system has been extraordinarily successful at moving capital to where it can create more financial value. But it has not been successful at moving capital to create social or environmental value. The result is large swaths of society and the environment that continue to need capital even as our global economy grows year over year. The resulting tension between those that have and those that need capital is leading to new frameworks for how capital can be conceived, measured and balanced. These multi-capital approaches bear the potential to create more responsible and sustainable companies. However, too frequently, multi-capital approaches are presumed to lead to inclusive or equitable distribution. This is a problematic presumption as one does not necessarily lead to the other and unless mechanisms are put into place to guide the development of multi-capital frameworks, the potential exists to exacerbate the disproportionate concentration of social and natural resources toward more wealthy groups of people. This paper explores the link between evolving multi-capital (financial, manufactured, social, intellectual, environmental and human capital) approaches and our ability to create more inclusive and equitable distribution of wealth and argues that in order to link multi-capital and inclusive capitalism, a series of fundamental reforms in shareholder agency will need to be adopted.

The Israel-Palestine divide has created difficulty for business and other organizations to work together due to deep-seated political tensions, economic disparities, and social fragmentation. The political landscape is fraught, with hardline stances on both sides and organizations opposing cooperation. Economic conditions also diverge sharply, with Israel’s high-tech boom contrasting starkly with high unemployment and economic stagnation in Palestinian territories. Additionally, military occupation and security measures, such as checkpoints and the separation barrier, complicate daily operations and interactions.

Despite these obstacles, several organizations profiled in this case strive to bridge the divide:

1. SodaStream: This company provides workplaces where Israelis and Palestinians work side-by-side, fostering daily interaction and cooperation.
2. Jordan Gateway Project: Aims to create enterprise zones on the border, facilitating joint manufacturing ventures.
3. Sadara Ventures: A venture capital fund investing in Palestinian high-tech startups, aiming to integrate them into the broader tech ecosystem.
4. Rawabi: A planned Palestinian city with a focus on developing a tech hub, initially collaborating with Israeli companies to gain international credibility.
5. EcoPeace Middle East: An NGO addressing environmental issues by promoting cooperation between Israeli, Palestinian, and Jordanian stakeholders.

Many observers counsel that cooperative efforts can only flourish if there is a political settlement between Israel and Palestine. On the other hand, could these and other organizational efforts help spur a more general political reconciliation?

Marina Bay Sands (MBS) is a landmark resort in Singapore featuring three 55-storey towers connected by a Sky Park. It includes a hotel, casino, convention center, and various dining and entertainment facilities, attracting 45 million visitors annually. MBS aims to lead in sustainable luxury by enhancing wastewater and energy efficiency, achieving the Green Mark Platinum Award, and certifying its convention center with the ISO 20121 Sustainable Events Management System. However, MBS faces significant challenges in their sustainability efforts. Integrating sustainable practices while satisfying diverse customer expectations and maintaining luxury standards is difficult. Recruiting suppliers providing sustainable products and sourcing responsibly caught seafood are formidable tasks, given that 75% of seafood in Singapore is not certified as sustainably caught. Furthermore, MBS's efforts could be undermined by competitors not adhering to sustainable practices, reducing the overall positive environmental impact. On a broader scale, the commitment to sustainability represents a complex endeavor amid pragmatism and deep-rooted cultural practices, especially for a luxury, gaming resort.

Developed in partnership with National University of Singapore Business School