Monthly views on the future of responsible business
MARCH 2023
“Anyone can see the impact of climate change in the natural disasters in California or Florida, in Pakistan, across Europe and Australia, and in many other places around the world. There’s more flooding, more wildfires, and more intense storms. In fact, it’s hard to find a part of our ecology—or our economy—that’s not affected. Finance is not immune to these changes.”
Since October 2000, the Federal Deposit Insurance Corporation (FDIC) has recorded 565 bank failures in the United States. Over nearly the same period, the U.S. Federal Reserve has studied the performance of ~90 banks with a range of diversity commitments, concluding that “banks' continued voluntary expansion of board gender diversity is likely to bring overall performance benefits for well-capitalized (well-managed) banks.”
So when critics of diversity, equity, inclusion, and belonging (DEIB) argue that “I’m not saying 12 white men would have avoided this mess, but the company may have been distracted by diversity demands,” about recent bank failures, their speculation runs counter to decades of research. More importantly, they are also casting undue skepticism on the careers of the women, people of color, LGBTQIA+, and veterans who are making their voices heard in boardrooms around the world.
At Deed, we always follow the facts. And research shows that greater diversity of thought and identity doesn’t distract anybody—it only makes us stronger. We hope you’ll join us as we continue to amplify the voices of employees of every stripe.
Report: Nonprofits want to help startups impacted by the banking crisis
It was a radical idea: In the wake of recent bank failures, major, well-funded nonprofits suggested “giving cash infusions to startups in exchange for their agreement to certain diversity and ESG (environmental, social, and governance) principles.” While no such deals have been announced to date, this kind of creative thinking is a testament to the dedication and ingenuity of social impact leaders. Read more in Semafor.
What ESG at Disney, Coca-Cola, and Google has in common
Michael Rittersbacher is the founder of CSR Innovations, with nearly 30 years in CSR/sustainability program development, management, and operations experience with some of the world’s most recognizable brands. In the latest installment of “Finding the Purpose Fit”—Deed’s blog series demystifying CSR—Chad Haertling sat down with Michael to hear his insight into employee engagement, social impact tech, and the future of responsible business. Read “6 Questions with Michael Rittersbacher.”
Vetoed 😎
On Monday, President Joe Biden rejected a bill that would have barred federal retirement fund managers from considering ESG factors in their day-to-day investment decisions. This was the first veto for the administration, which argued that tying financial planners' hands would have irresponsibly “put at risk the retirement savings of individuals across the country.” For a detailed report on the rising pitch of the ESG debate, head to the Associated Press.
California’s radical plan for affordable insulin
The state of California has inked a ten-year deal with nonprofit pharmaceutical manufacturer Civica Rx to produce insulin at 1/10 its current price. “The state-label insulins will cost no more than $30 per 10 milliliter vial, and no more than $55 for a box of five pre-filled pen cartridges—for both insured and uninsured patients. The medicines will be available nationwide," the governor's office said. Learn more about this unprecedented nonprofit partnership in NPR.
The connection between train derailments and ESG disclosure
Following the disastrous train derailment in East Palestine, Ohio, in February, ESG management expert Lawrence Heim dug into Norfolk Southern’s 10-K reports for clues on what went wrong. Heim made a deeply troubling discovery: “communities and populations along their chemical transportation routes were not included in the ESG assessment process.” Muddled definitions of ESG—how to measure it, what counts as “material”—across the industry may have caused confusion for the troubled railroad company, with a tangible impact on health and safety. Read the full report at Practical ESG.
Calling all social impact data buffs
Deed and True Impact have just launched “Maximizing Social Impact,” our three-part webinar series exploring best practices for the crucial data piece of doing good. ICYMI the first fascinating conversation between Gabe Cohen and Christine Tringale, here are “5 Takeaways from Maximizing Social Impact.’”
Product spotlight
Actions
(coming soon)
How can we help employees make better, more forward-looking decisions in their everyday lives?
With Actions—coming soon from Deed—your employees can perform small acts of kindness that fit their busy schedules. Think: unplugging all electronics when leaving the house, biking to work, and switching to fair-trade coffee.
Deed’s Product team is constantly thinking of new, innovative ways for our social impact platform to better engage employees at the macro and micro levels.
“Rise of the Employee Volunteer: How doing good improves health, happiness, and productivity,” brings together Monoswita Saha (Employee Engagement Leader, CSR & Citizenship at Kyndryl), Tim Anson (Associate Director for Engagement and Solutions at Goodera), and Chad Haertling (VP of Sales at Deed) for a highly anticipated webinar exploring how employees are making a difference in the world today.
WHEN
Today! March 23, 2023 @ 2 PM ET
TELL ME MORE
💪 Get to know CSR leaders from Kyndryl, Goodera, and Deed who are driving employee engagement in social impact through innovative volunteer opportunities and impact tech
💪 Gain insight into how company volunteer programs get off the ground and reach social impact goals
💪 Learn why 93 percent of Deed volunteers opted for in-person events in 2022
💪 Hear challenges and opportunities to volunteering in 2023
This March, we are celebrating Women’s History Month by highlighting nonprofits that advocate for women’s empowerment around the world.
From healthcare access to income inequality, the many complex issues facing women around the world demand our attention. In our toolkit, you will find:
Volunteering and giving opportunities in the U.S. and around the world.
In-depth look at specific cause areas, including: social justice, economic opportunity, health, and more.
A calendar of awareness days in March.
Employee and employee resource group (ERG) engagement ideas, as well as a walkthrough of how to craft a social impact campaign around Women's History Month.
Recommendations of worthwhile books, podcasts, and films on women's issues.
Click on the image below to preview the toolkit and learn how to get full access. 👇
Turkey and Syria
Millions of people are still in need in Turkey and Syria, where a devastating series of earthquakes has taken thousands of lives, brought down buildings, and sent families scrambling for new places to live and basic necessities they need to survive.
Deed has launched a public campaign to direct support toward 33 nonprofits (and counting) who are responding to the crisis. If you haven't already, please consider contributing now.
New to the social impact space? We know how challenging it can be to get a grasp of the who, what, when, where, and how of doing good deeds (even though we all know the why). Here are a few explainers:
Thank you for reading Vantage. We want this monthly newsletter to be of real value to everyone working to make a real social impact. If there’s a topic you’d like to learn more about, or if there’s someone pushing the conversation forward whose work deserves more attention, we’d love to hear about it. Drop us a note: vantage [@] joindeed [dot] com.
Forwarded this newsletter by a friend or colleague? Subscribe to Vantageso you never miss our monthly roundup and commentary on industry news, product updates, and giving & volunteer opportunities. See you in April.
