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Each September, leaders from business, government, and civil society descend on Gotham for Climate Week NYC, but there is an equally important voice that can enrich these conversations: micro-, small-, and medium-sized enterprises (MSMEs). MSMEs make up about 90% of businesses worldwide. They include, for example, cocoa farmers whose harvests produce our favorite candies, textile manufacturers that create fabrics for our clothes and furniture, and mint cultivators who source the essential oil to flavor our toothpaste and mouthwash. These founders and entrepreneurs supply the worlds largest companies and are vital to their decarbonization efforts. Studies show that emissions from a companys value chain can account for more than 70% of total emissions. Yet, MSMEs often lack the resources necessary to reskill and upskill workers in low-carbon technologies and best practices to meet evolving business needs and corporate sustainability targets. New research from the World Resources Institute (WRI) finds that only 3% of large companies set goals to invest in worker skills or improve working conditions. But when MSMEs fail to help these businesses attain their decarbonization goals, then they face the strong possibility of canceled contracts. And when this happens, global supply chains and the people who comprise them suffer. The results are unfortunate but exemplify stakeholder capitalism gone wrong. Everybodythe companies procuring goods and the MSME owners and workers producing them, as well as corporate shareholders and product consumersis up the proverbial creek. And lets not overlook the worlds population whose lives are affected by the changing climate.. The major players gathering for Climate Week NYC can help avoid these kinds of pitfalls if they take the time to identify and understand the imperative for people-centered supply chains to achieve desired business and societal outcomes. Whats more, big buyers will likely find themselves better able to hit their sustainability targets if they extend the support their suppliers need to make this possible. STAKEHOLDER CAPITALISM IS HUMAN-CENTRIC Technology often dominates conversations about the future of supply chains, from the use of AI in manufacturing to automated operations, but the human element remains fundamental. As supply chain expert Radu Palamariu noted in a recent podcast, humans are only becoming more important as the decisions they make regarding the programming and management of these systems can have larger impacts on production. Failure to reskill and upskill workers to drive value creation will mean even the most advanced systems risk failure. The same is true when it comes to the business of philanthropy. At the Ares Charitable Foundation, we prioritize improving peoples quality of life by giving them voice and agency to advance economically. For example, our Climate-Resilient Employees for a Sustainable Tomorrow (CREST) initiative addresses the sustainability reskilling needs of MSMEs in Indias automotive and textile sectors while considering what Klaus Schwab and Peter Vanham describe as a global economy that works for progress, people, and planet. Aligning with stakeholder capitalisms core tenets, CREST is helping ensure MSMEs participation in global supply chains, future-proof MSME workers jobs, ward against supply chain disruptions to benefit shareholders and consumers, and protect the environment. INVESTMENTS IN PEOPLE ARE KEY TO SUPPLY CHAIN SUCCESS While some companies are finding innovative ways to support the MSMEs that power their supply chains, overall commitment remains low. WRIs research shows that only 12% of large businesses have at least one people-centered supply goal, e.g., the intent to improve workers conditions and safety, invest in reskilling, or support workers and communities well-being. Nevertheless, investing in the people in global supply chains is equally smart and critical for stakeholder capitalism to succeed. Like WRI points out, companies cant afford to overlook this fact and must rethink their supply chain strategy to remain competitive. STAKEHOLDER CAPITALISM ADDS SIGNIFICANT SOCIETAL VALUE Putting people first is a fail-safe plan, especially in the most uncertain times. Avoiding supply chain disruptionsand achieving a more sustainable futurerequires adding societal value in ways that go far beyond revenues and profits. Once businesses embrace that stakeholder capitalism at its best is rooted in setting and attaining people-centered supply chain goals, then prioritizing workers reskilling and upskilling is an easy decision. Michelle Armstrong is president of Ares Charitable Foundation.
Category:
E-Commerce
A Zac Efron ad campaign has the internet up in arms over his unexpected new look. An image of the actor recently went viral for its heavy-handed spray tan and bee-stung lips. In the photo, Efron poses in a full white suit for what appears to be a Prada ad. The caption reads: Zac Efron x Prada drop their disco-inspired Saturday Night Fever line. At first glance, it looked like the real thingat least to less discerning Facebook users. Many rushed to the comments to express their horror. What in the Botox is going on around here… one person joked. Another wrote: Seriously? Zac Efron? You are ruining my High School Musical memories. A third pleaded: Please say its a prank? Say it with me: Its AI. Despite claims of a Prada collaboration, the fashion house has made no such announcement. The image originated on a Facebook page called The Celeb Talk Girl, whose bio reads: Pop culture chaos, celebrity tea, parodies, and just the right amount of satire. All content is for entertainment and fair use purposes only. Please dont take it too seriously. (Fast Company has reached out for comment). Still, the image spread across social media without context, where plenty of people fell for it. The lack of general discernment is SO concerning to me. Why would any of you look at this photo and think it was real? one TikTok user wrote. Please use your brains. oh my god we are COOKED. @rsjdesign #zacefron #prada#greenscreen Prokofiev: Romeo and Juliet, Op. 64, Act I: No. 13, Dance of the Knights – Mariinsky Orchestra & Valery Gergiev AI-generated celebrity images going viral is nothing new, and this certainly wont be the last. A recent study asked participants to identify images as AI or real; they only got it right 61% of the timefar below expectations. Online, users have already been duped by everything from AI bunnies on trampolines to fake rock star tributes for conservative pundit Charlie Kirk. But really, dont do Troy Bolton dirty like that.
Category:
E-Commerce
Since the beginning of the second Trump administration, companies across industries have been capitulating to the presidents authoritarian demands. Businesses like Target and Google have walked back their DEI efforts after a flurry of executive orders targeted such initiatives. Law firms have cut deals with the president rather than challenge his policies. Even media outlets have bent to Trump. Are we already in a constitutional crisis? Speaking at the Fast Company Innovation Festival in New York on Wednesday, Ben Wizner, director of the ACLUs Center for Democracy, said, “We’re in a constitutional crisis if we allow it and we’re not in one if we resist it.” Corporations canand shouldplay a major role in resisting it, and preserving democracy and civil rights, multiple members of the American Civil Liberties Unions legal team said at the event. They highlighted three things they’d like to see corporations do in this moment. Lobby against discriminatory bills As someone who works in state legislatures and lobbies against anti-LGBTQ bills across the country, the reality is that the single most powerful way to stop discriminatory legislation across the country is to have corporations lobby against those bills, said Chase Strangio, codirector of the ACLU’s LGBT & HIV Project. Take HB2, also called the Bathroom Bill, a 2016 North Carolina law that required people to use the bathroom that matched the sex on their birth certificatea way to restrict and harm transgender people. Companies including Nike, Apple, and American Airlines joined the fight against it, and ultimately that bill was repealed. Fast-forward to 2025 and multiple states are pushing bills that target healthcare for trans youthand many companies are silent. However, sanding up against such attacks actually benefits companies, according to Strangio. It is good for business to attract employees into states because those laws will protect their families, and will protect their children, he says. People should push their companies to continue those efforts.” He added, “I think there’s very good reason to believe that individuals are not going to come and you’re not going to retain talent if you are not pushing back against that type of legislation at every level. Question the Trump administration’s claims Corporations should also openly question factually inaccurate claims from the Trump administration, relying on their own data to back up their stance. For instance, Trump has attacked diversity, equity, and inclusion initiatives, but 83% of C-Suite leaders say DEI is key to retention. They also have evidence that such policies spur innovation, sharper decision making, productivity, and so on, said Yasmin Cader, deputy legal director at the ACLU and the director of the Trone Center for Justice and Equality. Corporate America has such a unique platform and opportunity to not have to punch back in a counterattack, but just say, What are you talking about? This works. We’ve seen it work, she said. Don’t give Trump power he doesn’t actually have And ultimately, companies shouldnt give Trump power that he doesn’t actually have, Wizner said. Trump is acting like hes in a system that gives him unlimited power, he said. That’s not actually true. To use the pressure on law firms as an example, Trump doesn’t actually have the power to say that this law firm can’t enter federal buildings, or can’t get contracts because [he] disagrees with some of the positions that they took. Courts back that up, too. But law firms are preemptively signing agreements with Trump to say they wont do those things. You’ve just handed him the power to do that, Wizner said. Wizner urged corporations to think about how their actions nowwhat they did and also did not dowill look in five, 10, or 15 years. He also emphasized the power of solidarity. More than 100 nonprofits, for example, have banded together to push back against an anticipated crackdown on their sector from the Trump administration, essentially saying that an attack on any one of them is an attack on all. Thats a lesson for other industries. If you allow them to pick organizations or issues off one by one, Wizner said, it’s almost impossible to resist.
Category:
E-Commerce
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