Business for Democracy: Corporate Strategies to Enhance Civic Participation
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Business for Democracy: Corporate Strategies to Enhance Civic Participation

14 October 2024 / Report

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As businesses navigate a complex election year, they have an opportunity to address democracy-related social objectives—starting with their own employees. This report, based on insights and data from senior ESG executives, examines how US corporations can strengthen democracy and civic participation through clear strategies, nonpartisan initiatives, and diverse public-private partnerships.

Key Insights

  • Aligning corporate and ESG strategies with broader social goals such as strengthening democracy is often more challenging for companies than addressing environmental or economic objectives, despite the significant importance of social factors for many stakeholders.
  • CEOs in the US and Europe rank democracy/the rule of law as a top-five ESG priority in 2024, which reflects a perceived need for stable governance and societal cohesion—although ESG executives outside the C-Suite are considerably less focused on this priority.
  • Most companies center their pro-democracy efforts on their own workforce (such as voter registration and civic education), and only 25% extend efforts into wider communities.
  • Few companies collaborate with other firms on democratic goals, despite clear advantages for pooling resources, sharing best practices, and mitigating risks.
  • There are significant opportunities for the public and private sectors to partner more closely and amplify civic participation and pro-democracy initiatives.

As businesses navigate a complex election year, they have an opportunity to address democracy-related social objectives—starting with their own employees. This report, based on insights and data from senior ESG executives, examines how US corporations can strengthen democracy and civic participation through clear strategies, nonpartisan initiatives, and diverse public-private partnerships.

Key Insights

  • Aligning corporate and ESG strategies with broader social goals such as strengthening democracy is often more challenging for companies than addressing environmental or economic objectives, despite the significant importance of social factors for many stakeholders.
  • CEOs in the US and Europe rank democracy/the rule of law as a top-five ESG priority in 2024, which reflects a perceived need for stable governance and societal cohesion—although ESG executives outside the C-Suite are considerably less focused on this priority.
  • Most companies center their pro-democracy efforts on their own workforce (such as voter registration and civic education), and only 25% extend efforts into wider communities.
  • Few companies collaborate with other firms on democratic goals, despite clear advantages for pooling resources, sharing best practices, and mitigating risks.
  • There are significant opportunities for the public and private sectors to partner more closely and amplify civic participation and pro-democracy initiatives.
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Author

Andrew Jones, PhD

Andrew Jones, PhD Andrew Jones, PhD

Senior Researcher, ESG Center
The Conference Board

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