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.

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.

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.