Page 19 - MiNDSPACE Issue 1 2022 - Old Mutual Corporate

DOES THIS STRATEGY REQUIRE A COMPLETE OVERHAUL OF A BUSINESS’S PRODUCTS AND SYSTEMS?
‘The theory is that companies can create shared value in
three ways: by reconceiving products and markets; redefining productivity in the value chain; and by strengthening local clusters. All three require a sufficiently robust market ecosystem. A collective impact approach may not always be necessary for the first two activities, but it is always necessary at the cluster level.’
HOW CAN AN INSURER LIKE OLD MUTUAL CREATE OR FACILITATE SHARED VALUE?
‘Our role is that of an integrated financial services provider and custodian of the savings and investments of millions of customers across the continent. The pandemic has certainly been a watershed moment regarding our efforts to accelerate the delivery of the UN’s Sustainable Development Goals by 2030. We used the opportunity to review our strategy through a stronger shared-value lens, prioritising the group’s sustainability while being part of the solution to some of the key challenges society faces today.
‘In certain areas we are already delivering shared- value outcomes, for instance, our work with
regard to responsible investment to further
our ESG ambitions. And the innovative work
Old Mutual is doing in mainstream financial education within education curricula in the African countries we operate in. When it comes to our strategy to champion mutually positive futures for customers through all the group’s solutions, we look at the entire value chain to create real shared value for them.
impactSPACE shared value
‘Issues like climate change, the Covid-19 pandemic, poverty and inequality cannot be solved by any one player alone.’
– Iain Williamson, CEO: Old Mutual
‘Part of this includes the commitments we
are making in areas such as climate change, financial inclusion and responsible investment that will enhance our role as facilitators of positive change, while also driving real value for our business and all our stakeholders.’ M
WHAT IT TAKES TO BUILD A SUSTAINABLE SUPPLY CHAIN
ISSUE 1 2022 | 15
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IMAGES: GALLO IMAGES/GETTY IMAGES AND SUPPLIED. TEXT: MARK VAN DIJK. *SOURCE: OLD MUTUAL LIMITED RESPONSIBLE BUSINESS IMPACT REPORT 2020
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