WEF_Vision_Towards_a_Responsible_Future_of_Consumption_2020.pdf

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Vision Towards a
Responsible Future
of Consumption:
Collaborative action framework
for consumer industries
COMMUNIT Y PAPER
OCTOBER 2020
Cover:
Adobe Stock/Alex
Inside:
Adobe Stock/Rawpixel.com; Gettyimages/valentinrussanov; Gettyimages/EtiAmmos; Gettyimages/Oakozhan;
Gettyimages/RomoloTavani
Contents
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Foreword
Executive summary
1
The consequences of a crisis and the systemic, underlying challenges
2
Consumer trends align to shape the response
3
Our vision: the potential of consumer industries
4
Individual company and ecosystem actions
4.1
New business models
4.2
Enabling impact through human-centric ecosystems
Conclusion
Appendix 1: Research and acknowledgements
Appendix 2: Emergent business models
Contributors
Endnotes
© 2020 World Economic Forum. All rights
reserved. No part of this publication may
be reproduced or transmitted in any form
or by any means, including photocopying
and recording, or by any information
storage and retrieval system.
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Vision Towards a Responsible Future of Consumption:
Collaborative action framework for consumer industries
Foreword
Members of
Consumer Industries
Steering Committee:
Liam Condon
President, Bayer Crop
Science, Bayer
Jeffrey Lu Minfang
Chief Executive Officer,
Mengniu Group
David MacLennan
Chairman and Chief Executive
Officer, Cargill
Geraldine Matchett
Co-Chief Executive Officer and
Chief Financial Officer, Royal
DSM
Doug McMillon
President and Chief Executive
Officer, Walmart
James Quincey
Chairman and Chief Executive
Officer, The Coca-Cola
Company (Co-Chair)
In partnership with:
Zara Ingilizian
Head of Consumer Industries
and the Platform for Shaping
the Future of Consumption,
World Economic Forum
As individuals the world over continue to
experience the effects of COVID-19, the consumer
industries face an urgent call to action. We employ
one in five workers globally. And we shape billions
of people’s daily life experiences – more so than any
other set of industries. As such, we are uniquely
positioned to have an outsized influence on how
the world emerges from this crisis. Already, through
individual companies and their employees, we
have taken steps to mitigate the damage inflicted
by the pandemic. However, significant pre-existing
challenges have been exacerbated by COVID-19,
and no single organization can provide the
solutions to these, which are desperately needed at
scale. It will take aligned,
collective
action.
Understanding this challenge, the World Economic
Forum and its partners in the Consumer Industries
community and the Future of Consumption
Platform have come together to advance collective
industry action. The business leaders that make
up this group represent the Agriculture, Food,
Beverage, Retail, Consumer Goods and Lifestyle
industries. Our charge: to identify the most effective
approaches to navigate the still-rapidly evolving
environment – and to ensure that the consumer
industries, and society at large, emerge in a
stronger and more resilient state.
We present our vision in these pages. Critically, it
is both
human-centric
and
holistic;
it is powered
by a profound commitment
to improve the lives of
all individuals in concert with the communities and
the planet that nurtures and sustains them.
Much is in flux. Much is at stake. But the World
Economic Forum and the Consumer Industries
community offer a neutral, independent and
multistakeholder platform through which
unbiased collaboration occurs and transformative
change begins. It is our hope, and our
expectation, that this Community Paper will
stimulate and facilitate accelerated engagement
and action, and lasting, positive outcomes.
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Vision Towards a Responsible Future of Consumption:
Collaborative action framework for consumer industries
October 2020
Vision Towards a Responsible Future of Consumption:
Collaborative action framework for consumer industries
Executive summary
In the face of the accelerating pandemic in the spring
of 2020, the consumer industries mobilized to deliver
extraordinary value, both as individual businesses
and through cross-company partnerships. But, at
the same time, they saw their deepest vulnerabilities
exposed. For example, massive supply and demand
imbalances drove estimated losses of $4–5 billion for
US dairy farmers. Meanwhile, the precarious position
of informal workers, including those leading small
and medium-sized businesses, led to significant job
losses and bankruptcies.
And the big picture remains sobering. Jobs lost in
2020 could total more than 165 million – if the virus
comes under control.
1
Current estimates hold that
265 million people around the world will suffer acute
hunger because of the pandemic.
In response, consumer companies and others will
continue to offer triage. However, the pandemic has
underscored the underlying and persistent problems
that predated COVID-19 and have exacerbated
its effects: climate change; pollution; inequity and
inequality; poor education about nutrition; lack
of information and resources to enable healthier
lifestyles; and eroded levels of consumer trust. It will
take individual company action and partnerships
in concert with
collective ecosystem-level action
to
realize the transformative and lasting impact that is
needed. The latter must reflect engagement from
business, government, social and academic leaders
– and consumers themselves.
Hearteningly, prominent consumer trends signal
an expectation of systemic change. About two-
thirds of consumers surveyed for this report said
that COVID-19 strengthened the need for business
involvement in social and environmental outcomes;
they also expect companies to work together.
Their purchasing decisions reflect expectations of a
healthier and more equitable world, as well. Some
94% of consumers have made at least one healthy
change since the pandemic began – for example,
health-conscious shopping – while 60% are buying
more sustainable or ethical products. These trends
and others will help shape viable solutions.
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A unifying vision and mission: the potential of consumer industries
The consumer industries are uniquely positioned
to lead this movement. They employ one in five
workers around the world. Billions of individuals use
their products every day. Moreover, to the extent
that they accept this responsibility, they will also
establish practices ahead of – and thus influence
– inevitable environmental, social and governance
(ESG) requirements.
To that end, the World Economic Forum and its
partners in the Consumer Industries community
came together to provide industry leaders with a
platform for identifying an achievable path forward. In
the early and most challenging days of the outbreak,
the community focused on mitigating COVID-19’s
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negative impact on the flow of essential goods and
on livelihoods, by:
–
Aiding the development of the Global Supply
System Dashboard (GSSD), a pre-competitive
visibility tool that can flag bottlenecks at transport
hubs to support the flow of essential goods (in
collaboration with the Forum’s Consumer and
Supply Chain and Transport Industries’ initiatives)
Facilitating continued employment by
transitioning displaced workers through a digital
platform initiated by Accenture called People +
Work Connect
–
Vision Towards a Responsible Future of Consumption: Collaborative action framework for consumer industries
The community has since shifted its focus
towards realizing broad, transformative change
by establishing a vision and mission to align
stakeholders in efforts to “build back better”.
Both are rooted in the concept of
human-
centricity,
where shared value is created as
participants unite around a human outcome.
Critically, they are also holistic, powered by a
profound commitment to enrich the lives of all
individuals in concert with the communities and
the planet that sustains humanity.
The vision:
We are first and foremost human-centric,
creating shared value and operating with integrity
to ensure a sustainable and resilient future
To realize the vision, it is the mission of the
community to:
Advance responsible consumption for the benefit
of business and society
Company and ecosystem actions
Moving from aspiration to reality will require disruptive
business models featuring a mix of emerging
components that create new value. These include:
Circular-economy approaches,
which aim to keep
products/materials in use, by design, for as long
as possible to capture their maximum value, e.g.
sustainable supply chains and post-production
consumption.
Shared-value chains,
where companies integrate and/
or share their value chains vertically and/or through
partnerships, e.g. sharing a workforce.
Digital enablement,
where data and new technologies
provide seamless visibility, amplified insights and
magnified capabilities.
Loop, a Forum-incubated business model designed
to address the sustainable packaging challenge,
is one example. With participants spanning the
value chain, it combines reusable packaging with
a convenient, direct-to-consumer experience to
encourage adoption.
Even greater successes can be achieved by
aligning the broader ecosystem on common goals.
The Forum’s established goals for the consumer
industries – to improve consumer health and
well-being, increase sustainable consumption,
accelerate inclusive growth and build trust and
transparency
–
are well suited to this purpose.
Finally, the Consumer Industries community has
prioritized a set of collaborative industry actions,
which build on the World Economic Forum’s “Great
Reset” initiative to improve the foundations of our
economic and social systems. These actions also
complement other Forum activities, including the
Platform for Shaping the Future of Consumption.
They are:
–
–
–
–
Better nutrition for all
Enable sustainable consumer choice
New deal for the workforce
ESG leadership
COVID-19 has highlighted the urgent need for
solutions to overcome societal and environmental
challenges. It has also inspired an opportunity
for collective action. Members of the Consumer
Industries community seek to use the Forum’s
ability to convene diverse actors across industries
and the public sector on an independent platform
to create a better and more resilient future.
Vision Towards a Responsible Future of Consumption:
Collaborative action framework for consumer industries
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