according to Katrin Kaufer, a researcher at MIT in Boston, this is a key challenge

“We really need to learn how to evaluate the impact of our actions“. Katrin Kaufer, senior research fellow at MIT in Boston, is very clear: “I think this is the most important challenge that ahead of us. We can no longer ignore that what we do every day at work or in our lives has an effect on society and on the well-being of the people around us.

And this reflection applies to all of us, both as workers and as citizens. In business contexts, for example, I think we can no longer neglect the negative externalities created by companies. And I believe that CEOs and people who hold leadership roles in organizations can not overlook this aspect, as if it were a marginal factor. In my opinion, the social impact should be considered as an integral part of the proposition of each business.”

According to Kaufer it is equally important for citizens to understand the impact of their decisions on the market. In fact, our money is not neutral and makes a difference depending on where it is spent or placed. And to achieve this result we need a cultural change, a transformation in the way of thinking.

To ensure that social impact becomes an evaluation parameter, transparency should become one of the fundamental principles. There is, in fact, a deep correlation between transparency and the ability of the individual to understand the impact that every single company or product has on the well-being of society.

This concept should also be applied in the financial sector. That’s why Katrin Kaufer collaborates, through innovative training and leadership projects, with the Global Alliance for Banking on Values, the independent network of banks using finance to deliver sustainable economic, social and environmental development.

“This network of banks – she underlines – has developed and continues to study the fundamental principles on which banks should base their way of operating, following to a specific code of conduct and responsibility. The goal is to define a clear standard that can serve as a benchmark. I think this approach is very relevant and could potentially become so for other industry sectors. It is a concrete opportunity for market expansion, where the value of transparency turns into a real stimulus.

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