News & Insights
Thought leadership and key developments in the responsible business and ESG space
Companies and investors navigate complex challenges in fragile and conflict affected states. Preparedness and conflict sensitivity is needed to ensure negative impacts are minimized and positive impacts maximized.
Business & Conflict : Being Prepared
As conflict reignites in Israel-Palestine, with profound implications for the region and beyond, we see again the impact of protected conflict dynamics and long-held grievances unfold. As the human toll rises and the world calls for restraint, how companies and prepare for and respond to conflict matters.
Business can be a powerful force for de-escalation of violence and peace, when decisions are carefully calibrated, and informed. Or, companies and investors can readily contribute to conflict dynamics and do great harm.
As companies, small and large, and investors weigh their next move, experience, guidance and research tells us that best practice responses:
Are weighted toward preparation - prepare early, before conflict commences.
At the onset of conflict, move rapidly to protect staff and associated communities in the value chain.
Utilize conflict-informed scenario analysis to understand the conflict, its implications, your links to conflict actors and the implications of your decisions.
Analyse the companies’ links to potential human rights violations and risks of complicity in war crimes as defined under International Humanitarian Law, including excessive use of force, financial or logistical support to bad actors, and the acquisition of land or other assets without compensation.
Seek to do no harm, to minimize negative implications of decisions and maximise opportunities to de-escalate violence.
Communicate clearly, transparently, and often, regarding the steps the company is taking to respond to conflict and crisis.
Underpinning these steps is a company or investors’ ability to clearly assess the conflict context, which is always multidimensional and complex. Ithaca Impact provides specialist support in conducting conflict assessments to contextualise and inform your decisions.
Implementing the Voluntary Principles on Security & Human Rights – Practice Note
The VPs are of paramount importance to extractives companies in low governance jurisdictions, and they are increasingly relevant to companies in other sectors. In fact, new members to the Voluntary Principles Initiative (VPI) are increasingly operating in the manufacturing, energy, agriculture and chemical production sectors.
Social Impact & Peace Building - Conversations With Mick Hase From SEVENTEENx
As the ESG debate rages, Responsible Business standards rise, and the negative impacts of multiple crises manifest, Dr Elizabeth Armstrong spoke with Mick Hase about how the pressure is now on businesses to act with Purpose and have a Positive Impact on the world.
It's Time - Boards need new skills to address wicked problems
In the current context of rising geopolitical and conflict risk, shifting social expectations, and a polycrisis of pandemics, inequality, climate change impacts, and increasing conflict, traditional boardrooms are ill-prepared to tackle the complex challenges facing businesses. While the recognition of the importance of ESG is gaining momentum, it doesn't go far enough to comprehensively address the multifaceted role of business in society.