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• Article | AEA Papers and Proceedings | May 2020

  Tackling Climate Change Requires Organizational Purpose

  Rebecca Henderson and George Serafeim

  Unchecked climate change presents a profound threat to economic growth and political stability but despite widespread public concern about the issue, global emissions of greenhouse gases have not declined. Indeed current “business as usual” predictions imply that average global temperatures will rise by more than 4⁰C by 2100, with potentially catastrophic results. In this paper, we argue that while putting in place an effective regime for pricing GHG emissions is more essential than ever, it is unlikely to be sufficient. It is in this context that we hypothesize that increasing the fraction of commercial firms who are “authentically purpose-driven” might have a very significant effect on the problem of climate change.

  Keywords: corporate purpose; purpose; sustainability; environment; Climate Change; Organizations; Mission and Purpose; Environmental Sustainability; Strategy; Leadership;

  Citation:

  Henderson, Rebecca, and George Serafeim. "Tackling Climate Change Requires Organizational Purpose." AEA Papers and Proceedings 110 (May 2020): 177–180.  View Details

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• Supplement | HBS Case Collection | April 2020

  Should a Pension Fund Try to Change the World? Inside GPIF's Embrace of ESG

  Rebecca Henderson

  Citation:

  Henderson, Rebecca. "Should a Pension Fund Try to Change the World? Inside GPIF's Embrace of ESG." Harvard Business School Multimedia/Video Supplement 320-704, April 2020.  View Details

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• Technical Note | HBS Case Collection | December 2018 (Revised March 2020)

  Note on Economic Inequality (2020)

  Rebecca Henderson, Jessica A. Gover, Aldo Sesia and Mariana Oseguera Rodriguez

  For over half a century, most of the world's economies have enjoyed steady growth and prosperity. While this economic growth has reduced the number of people living in poverty, it has come with an increase in economic inequality. The gap between the "haves" and the "have-nots" in developed countries has widened, with a small proportion of the population reaping an increasingly larger share of a country's economic rewards. This growing economic inequality has been particularly pronounced in the United States, but the phenomenon has also occurred in many nations. This note provides background on aspects of economic inequality. It begins by describing both income inequality and wealth inequality, providing an explanation of two widely used metrics and data that show increasing inequalities over time. It then moves to the factors that might contribute to this inequality, as well to propositions of economic and social consequences that might result from the widening gap. Finally, it addresses the issue of "equality of opportunity" or social mobility. This is an update to the Note on Economic Inequality (2015). It provides additional information on economic inequality, including union membership and inequality and political polarization.

  Keywords: Economic inequalty; wealth inequality; equality of opportunity; political polarization; Economic Growth; Economics; Income; Wealth; Equality and Inequality; Society; Problems and Challenges;

  Citation:

  Henderson, Rebecca, Jessica A. Gover, Aldo Sesia, and Mariana Oseguera Rodriguez. "Note on Economic Inequality (2020)." Harvard Business School Technical Note 319-071, December 2018. (Revised March 2020.)  View Details

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