Ep 9 - Taming the Beast: A Challenging New Initiative - Mr Michael Johnston - a podcast by Common Alternatives

The systematic degradation of the commons must be contained and reversed if future generations are to survive and prosper. The air we breathe, the temperature in which we live and extreme weather events are now risking our very existence. How did we get into this mess? What contribution have corporations made towards creating the dire circumstances we face? What can we do to harness the power of modern corporations to solve these meta issues? While we have made inroads towards containing and restricting corporate behavior, through penalties and sanctions, it is clear from recent events that there is a long way to go. The GFC taught us that greed dominated consideration of the financial instruments that nearly brought the global financial system to its knees; then, revelations of impropriety in our own Banking Royal Commission shocked the community who previously held banks as revered and trusted models of corporate culture. There are many initiatives being pursued around the globe such as cooperatives, elected worker directors, semi-autonomous work groups etc. The list is endless. However, they barely scratch the surface of this beast we know as capitalism. There is a tiny light at the end of the tunnel which is attracting growing interest around the world. It is the creation of Benefit Corporations. It’s hard to pinpoint an exact origin of the concept as it probably owes its provenance to many contributing factors. However, a few entrepreneurs, dissatisfied with their experiences of corporate life, got together to set some standards that they thought would satisfy the elements required for companies to be socially responsible and provide a public benefit. They formed a non-profit standards evaluation enterprise called ‘B Lab’. The standards are comprehensive and demanding, they are not a walk in the park. There are now many thousands of companies across the globe that have achieved ‘B Lab Certification’ but most are concentrated in America. There are hundreds in Australia. An essential driver of this initiative is that the certification is provided by an independent third party.  Michael Johnston’s career spans 35 years across a range of industries in the public and private sectors in education, business, and human resources management. He has a reputation hallmarked by innovative practices, and practical bottom line achievements. His focus has been on sustainable workplace reform by creating working cultures and environments that are both satisfying for employees and productive for employers. His career is characterized by recurrent, lifelong learning and constant translation of theory into practice.  

Alternative Futures and Regional Prospects Symposium Working across Differences, beyond Carbon, Capital and Commodity  Thursday 22nd & Friday 23rd of November 2018 Organizers: The University of Newcastle Alternative Futures Network, Common Alternatives Network (http://thecommonalts.com/); hosted by The University of Technology Sydney

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