We see many under-appreciated opportunities emerging for business leaders here, but this isn’t just a simple story of innovation lifting people out of poverty.
Our report highlights the unintended consequences of innovation and growth. For example, economic growth can worsen the global climate crises. Innovative new business models can remove essential protections for workers. Rapid growth can compound inequality and inequitable distribution of resources. Technology can unleash unregulated digital harms. There is no guarantee that new lending practices will be responsible. But neither are these unintended consequences inevitable.
We call upon business leaders to infuse these new inclusive business models with a new ethos to avoid these negative consequences. Our report provides examples of how we are working on this with our own clients at our innovation centers to illustrate one possible approach for this, and we encourage others to build on this.
Asking the right questions early can lead, we believe, to many small decisions with big consequences that will ultimately lead to faster, more sustainable, and more responsible growth for everyone.