Thrive, a new report from the Global Business Alliance (GBA), notes academic findings that responsible corporate policies related to ESG matters are typically good predictors of a company’s financial and economic success. Thrive includes expert analysis by Cato Institute economist Dan Ikenson that shows that international companies like GBA members are raising America’s economic, labor, environmental and societal advantages over domestic companies.
GBA companies have made significant contributions to forward-thinking economic growth issues, with TE Connectivity, Ericsson and Hitachi all investing in promoting and making science, technology, engineering and math (STEM) fields more accessible to American students, the next generation of the U.S. workforce. Sasol Chemicals has also focused on workforce development and scholarship initiatives in southwest Louisiana, helping the area attain one of the lowest unemployment rates in the nation. Sodexo has helped Chicago-area produce farmers via local sourcing and development of supply chain networks that enabled those agriculture producers grow and expand. And National Grid employees put in countless hours to help U.S. territory Puerto Rico restore power to businesses and residents in the aftermath of 2017’s Hurricane Maria.
In short, international companies are not just importing jobs and a myriad of economic benefits, they are also bringing time-tested traditions and best practices to the United States – policies that are generating new economic activity in U.S. communities.