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TED Business

To make a company change, turn up the heat | Vinay Shandal

TED Business

TED

Business, Modupe Akinola, Ted Business Podcast, Business Leadership Podcast, Ted Talks Business, Ted Modupe, Ted Talks

41.2K Ratings

🗓️ 18 January 2021

⏱️ 35 minutes

🧾️ Download transcript

Summary

What do you do when a company doesn’t act in line with your values? Boycott? Divest? In essence, stop the flow of money? That's the typical advice. But sustainability consultant (and former comedian) Vinay Shandal says we’re missing a whole set of tools more effective than walking away. He looks to the most intimidating and influential profit-chasing investors in the world for techniques on how to make real social change.

After the talk, Modupe chats with Corey Hajim, TED’s Business Curator, to try to apply Vinay’s ideas to their own lives. Without getting exhausted.

Transcript

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0:00.0

Ted Audio Collective.

0:02.0

I attended the same K-12 all-girls

0:07.0

I attended the same K-12 all-girls school in New York City for 13 years.

0:15.0

Imagine this elementary school Blue Tunick,

0:18.0

middle school, Blue Skirt,

0:21.0

and by high school you got to wear whatever you wanted.

0:25.0

And so I was at the school in the 80s and all over the headlines was apartheid in South Africa.

0:32.0

There was an international campaign to stop the

0:34.6

flow of money to South Africa until the situation changed. A huge movement to

0:39.6

divest. And the cool high school girls who got to wear whatever they wanted jumped in on this and they

0:46.2

put on a protest demanding that the Board of Trustees stop investing the school's

0:50.4

endowment funds in companies that were operating in or trading with South Africa.

0:55.8

And let me tell you, I was so proud to participate in this activism, in this movement to

1:01.0

divest. As one of the few African students to see the high schoolers focused on the continent

1:07.2

of my origin and wanting to make this change meant so much to me.

1:12.1

But if you really want companies to act in line with your values,

1:17.0

is divestment that is stopping the flow of money, really the best approach? Or is there a more active way to be an

1:26.2

activist? Welcome to the TED Business Podcast. I'm your host, Madupa Akenola, a Columbia Business School professor.

1:36.0

In today's talk from Ted at BCG in 2018, Veney Shandal offers a new perspective on what you can do to help companies do better.

1:45.6

This is also known as ESG or addressing environmental, social, and governance concerns.

1:53.0

Vene is the global leader of Boston Consulting Group's sustainable finance and investment business.

1:58.0

He's going to make the case that if there's an issue you really want the leadership of an organization to focus on, to meaningfully

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