20 February 2020
Today the UN is calling for “closing the inequalities gap to achieve social justice”. We want to share the ways in which TDi and our partners are helping to address inequalities through the power of business and cross-sector innovation.
Inequality is rising and our current economy is frankly unsustainable. Inequality affects us all – it threatens peace, deepens poverty and contributes to our climate crisis.
It is time to reduce inequalities globally.
As the United Nations and the International Labour Organization Office state:
“One in 5 workers still live in moderate or extreme poverty, geographical disparities impede access to decent work, many workers face stagnant wages, gender inequality prevails and people are not benefitting equally from economic growth. Inequalities between and among countries are weakening social cohesion, preventing people from achieving their full potential and burdening economies. It is time to reduce inequalities globally.”
We deeply believe in the power of business to deliver social justice.
TDi is about bringing together two worlds that have been firmly wedged apart, the world of business & the world of delivering social good. We play a convening role in the middle of these two worlds to dream and design a new reality and models that address inequality, exclusion & sustainability.
Bringing governments, business and communities together to find new ways of doing business creates opportunities for trade, investment & capital flows and ultimately contributes to securing peace and a shared prosperity.
So… how exactly do we advance Social Justice through business?
One of the ways TDi advances social justice is by supporting business entrepreneurship amongst indigenous people to overcome the exclusion from trade markets they often experience. Our cross sector work in social innovation and a market based approach to poverty alleviation seeks to achieve full participation in the global economy and promotes an inclusive economy in Australia and the Pacific.
Some of the specific ways we do this is by:
Helping good businesses to grow so they can provide greater social impact
Women’s Business Resource Centre (WBRC) in Port Moresby, Papua New Guinea to run a growth accelerator program called Guria for twelve selected businesses. As a result of the program, each entrepreneur aims to double their revenue and double their profit, without doubling their workload. The intent is to shift ownership of the program to WBRC over the next few years so that they can to assist all of their members, creating a broader impact across Papua New Guinea.
TDi also partners with Indigenous Business Australia to run accelerator programs tailored to Australian Indigenous Entrepreneurs. Together we are deeply invested in the financial success and economic independence of Aboriginal and Torres Strait Islander people. When we help a business to achieve sustainable growth it creates employment opportunities, strengthens communities and the local economy.
Designing more inclusive and sustainable supply chains
YuMi Tourism Partners is a cross-sector partnership between Carnival Australia, the Australian Department of Foreign Affairs and Trade (DFAT) and The Difference Incubator. It is aimed at driving local business, jobs and economic growth in Vanuatu and Papua New Guinea through a shared value approach with the private sector. It is a powerful example of how we can achieve social justice in a more holistic way and through true collaboration between business, government and community.
It has already delivered an additional AUD$1.5m income per annum into communities in the South Pacific through new tourism contracts, whilst improving Carnival Australia’s onshore experience.
We live and operate in an era that requires great acts of bravery, creativity and fresh approaches to entrenched social problems.
World Economic Forum Davos 2020 reported as the new decade
“opens with a fragile growth outlook, social tensions over the evident polarization of economic outcomes and high levels of uncertainty…there are signs of policy agility and business reform that may lead to a different, better kind of economic growth”
Now is the time for governments and businesses to embrace innovative new approaches that push the boundaries, leverage resources and advance a more just and inclusive world economy.
Every initiative starts with a difference maker who believes that there is a better way. We deeply value the courage and vision of these people and the alliances and partnerships that have helped to advance social justice in our work. We are convinced more than ever that development without economic development will only continue to lock people in poverty and not see the future we all dream of realised.
Curious about how we could work together?
We’re always up for a coffee and a chat to explore the possibilities. Get in touch.