The Enacting Purpose Initiative (“EPI”) is a multi-institution partnership among the University of Oxford, the University of California Berkeley, BCG BrightHouse, EOS at Federated Hermes, and the British Academy. EPI aims to research and report on emerging global best practices around the implementation of corporate purpose within organizations.
On July 16, the EPI published Report #2, entitled “Directors & Investors: Building on Common Ground to Advance Sustainable Capitalism” (https://enactingpurpose.org/assets/epi-report-final.pdf), which states that it sets out how directors can work with their investors to leverage corporate purpose to address societal issues and sustain long-term value creation. The report indicates that its recommendations were informed by extensive dialogue with over 35 board members and over 30 global investors and asset owners and managers, and that the report lays out the common ground between investors and directors regarding the value of corporate purpose in order to produce actionable insights for directors seeking to deepen their collaboration with investors on corporate purpose.
Report #2 is focused on the U.S. notwithstanding various references in it to North America. I was struck by how much of the report is consistent with two major policies published by the Canadian Coalition for Good Governance (“CCGG”), namely 1) "The Directors’ E&S Guidebook" (The-Directors-ES-Guidebook-2018.pdf) and 2) "Building High Performance Boards" (building_high_performance_boards_branding-update_2020.pdf). For Canadian directors, I believe it would be quite useful to read the two CCGG publications in tandem with EPI’s Report #2.