By Judy Njino (Executive Director, Global Compact Kenya)

The changing societal context is prompting companies to rethink how they understand and approach 'value' creation. Businesses narrow focus on the bottom line coupled with the annual charitable initiative covered  by the media is increasingly being re-shaped by environmental, social and governance factors. While reaching out to the needy is not at all bad, it is time to expand the narrative.

Business no longer exist to just make money; the well-being of employees, communities and the planet is inevitably tied to the health of the business. Business has an opportunity to create societal value, have motivated employees, have a more competitive advantage and have a chance to share emerging and best practices.

Some companies in Kenya have notably started publishing annual corporate sustainability reports showing their value add on social and environmental aspects.  Safaricom through KPMG’s True value methodology created a total value of 414 Billion in their 2016 sustainability report. While this kind of reporting has not gained much popularity, it definitely influences the consumer’s decision making process.