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Looking ahead to 2022

Emerging trends and new advances in Inclusive Business

How can the newly launched Inclusive Business Features support the growth of Inclusive Business worldwide?

How can the newly launched Inclusive Business Features support the growth of Inclusive Business worldwide?

Building on the G20 definition, the Inclusive Business Features provide a structured set of features, defining the distinguishing characteristics of businesses that engage the base of the economic pyramid. They enable companies, investors and policymakers to recognize how inclusive businesses are a tangible answer to the opportunities presented by the Sustainable Development Goals and allow them to consider what it would take to better develop, support and enable such businesses.

The development of these features was a truly collaborative effort. They were finalized with the input of leading global organizations, which have come together to generate consensus on the high-level characteristics of inclusive businesses.

We asked key stakeholders involved in their development why launching the Inclusive Business Features is important now, and how it can support the growth of Inclusive Business in the future. Here are their insights:

 

Matthias Altmann, European Commission - DG International Partnerships

Read Matthias' insights

Why do you think the development and launch of the Inclusive Business Features is important now?

We see demands today increase for clear criteria on what constitutes a sustainable investment, and how businesses can measure and demonstrate their contributions to the SDGs. The IB Features are a timely response to these demands by clarifying what inclusive business is and how it distinguishes from other forms of business.

In your opinion, how can the Inclusive Business Features support the growth of Inclusive Business worldwide?

The IB Features clarify for the first time what the characteristics of inclusive businesses are. They set a standard by which investors, governments, donors, and other stakeholders can identify inclusive businesses and make informed decisions about supporting and working in partnership with them. The features are therefore a useful tool to advance the recognition and growth of inclusive businesses worldwide.

Matthias Altmann
Matthias Altmann Senior Expert, Corporate Sustainability,
European Commission - DG International Partnerships

"The IB Features clarify for the first time what the characteristics of inclusive businesses are."


Kathy Mignano, International Finance Corporation

Read Kathy's insights

Why do we need a consensus on the features of Inclusive Business?

Companies and investors are increasingly incorporating inclusive practices to pursue growth opportunities while boosting development impact. Inclusion, however, can have different meanings for different stakeholders. That’s why a consensus about the basic features of inclusive business is key. It creates a common understanding, so all stakeholders can speak the same language.

Why are the Inclusive Business Features important now?

Covid-19 has exacerbated the global challenges of poverty and inequality, and the low-income people at the base of the economic pyramid are more vulnerable than ever before. People at the base of the pyramid are also among the most at-risk due to climate change. The features outline the distinguishing characteristics of an inclusive business model, making it easier for businesses to succeed in their efforts while encouraging more stakeholders to get involved.

Kathleen Mignano
Kathy Mignano, Operations Officer in the Gender and Economic Inclusion Group,
International Finance Corporation (IFC) 

 "Companies and investors are increasingly incorporating inclusive practices to pursue growth opportunities while boosting development impact."


Fernando Casado Cañeque, GLOBALCAD

Read Fernando's insights

Why do you think the development and launch of the Inclusive Business Features is important now?

I think IB Features is important because it is helping align and organize a lot of the available knowledge, methodological approaches and tools in an integrated manner so practitioners from all over the world can access them and work in a more synergic way; broadening our understanding as well as our outreach and thus, the impact we generate on society. As practitioners, we have been working in silos for too long, reinventing the wheel too often and generating too many overlaps on how we use knowledge to generate constructive change. The IB Features are certainly oriented to change this.

In your opinion, how can the Inclusive Business Features support the growth of Inclusive Business worldwide?

I think the work IB Features is doing in order to support the growth of inclusive business worldwide is essential. Promoting the best available tools; the methodologies that are working; highlighting the case studies that have achieved transformational change; and giving voice to the entrepreneurs that are struggling to promote their IB product and service so it can upscale and replicate its impact is a must and its being done appropriately. One area that could be incorporated is become a catalyst of all the new IB and Climate Funds that are available now, in order to create contests, competitions and innovation hackathons to enable those funds to also reach the entrepreneurs of low-impact communities that have more struggles having access.

Fernando Casado, Founder and Director Center of Partnerships for Development (GLOBALCAD)
Fernando Casado Cañeque, Founder and Director,
Center of Partnerships for Development (GLOBALCAD)

"As practitioners, we have been working in silos for too long, reinventing the wheel too often and generating too many overlaps on how we use knowledge to generate constructive change. The IB Features are certainly oriented to change this."

Alexandra Harris

Alexandra Harris is a writer, editor and communications specialist with a focus on sustainable private sector development. She previously worked for the International Finance Corporation and the Asia Foundation.

Table of contents

graphic summary

GRAPHIC SUMMARY

Learn more about trends and advances in Inclusive Business by reading this nineteenth edition of the online magazine on Inclusive Business! The illustration was developed by Christopher Malapitan, a visual practitioner and trainer based in…

Christopher Malapitan

editorial

Powering the just transition – The biggest opportunity for Inclusive Business

In his editorial, Markus Dietrich argues that there is a unique window of opportunity in 2022 to position Inclusive Business as a business model for a just transition to an inclusive economy that leaves no one behind.

Markus Dietrich

feature story

Looking ahead to 2022: Emerging trends and new advances in Inclusive Business

Inclusive Business is no longer on the sidelines; it has come front and center in the boardroom. Governments are also making headway in promoting Inclusive Business and developing inclusive business strategies. Several advances have been made in the ASEAN region, culminating in the recent ASEAN Inclusive Business Summit in Brunei. In this issue of CLUED-iN, the last of 2021, we take a look at new developments and advances in Inclusive Business, including new tools, innovations and practical approaches turning policy into action.

Alexandra Harris

Seven questions to make your business more inclusive of low-income and marginalized communities

Multi-national corporations are increasingly searching for ways to make their businesses more inclusive and sustainable. In their blog, Gillian Hinde and Jessie Coates of EY introduce the new Inclusive Business Playbook, which highlights innovative examples of inclusive business models and delves into key areas for companies to examine.

Promoting Inclusive Business and innovation in ASEAN

In her interview, Marta Pérez Cusó covers the latest IB policy development in the ASEAN region and the practical next steps for inclusive business promotion. She also discusses the new publication Frontiers of Inclusive Innovation: Formulating technology and innovation policies that leave no one behind, which provides examples of how governments can support grassroots innovation and inclusive policies.

Harnessing innovative solar technology to provide opportunity in remote areas

Advances in distributed solar technology have created new opportunities for energy access in remote areas. Callum Yap of Okra Solar explains the latest developments and also tells us how inclusive business coaching helped his company develop a framework for working with communities at the base of the pyramid in Southeast Asia.

How strategic coaching helped build a sustainable inclusive retail business in Egypt

Ahmed Sheikha shares how his company drew on advisory coaching services to develop an impactful inclusive business model in Egypt and to scale its impact on stakeholders.

Cambodia Women Entrepreneurs Association: Supporting women-led inclusive businesses in Cambodia

The Cambodia Women Entrepreneurs Association is supporting the development of Inclusive Business in Cambodia. Lina Sophat discusses the role of CWEA in supporting women entrepreneurs as a permanent member of the IB accreditation committee.

Lyly Food: Increasing visibility through IB accreditation in Cambodia

Lyly Food is a female-led company that buys fruits and vegetables from farmers, it is also one of the first Cambodian businesses to receive IB accreditation. Ing Chhiv Ly, the CEO, explains how developing an inclusive business model has benefited her company, and what the government can do to support businesses like hers.

Harnessing the Full Potential of Inclusive Business

How might Inclusive Business evolve in future? George Schoneveld of the Center for International Forestry Research outlines how it could contribute to the global climate change agenda and why partnerships are essential.