HIGHLIGHTED ACTION GROWING THE FOURTH SECTOR
Highlighted initiatives, projects, people, and organizations contributing to the growth of the fourth sector.
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The Fourth Sector Group (4SG), with support from the UK’s Department for International Development (DFID), is working in collaboration with the International Chamber of Commerce, The British Academy’s Future of the Corporation Programme, McKinsey & Co., Ibero-American General Secretariat, Leaders on Purpose, and other partners to develop a set of Primers to support organisations across the globe to develop for-benefit businesses and participate in building the supportive ecosystem for the fourth sector of the economy.
The Primers are living documents and resources, which will continue to develop and adapt in line with evolving practice and knowledge about this growing sector. They will be informed by expert and practitioner input from a wide and diverse range of stakeholders around the world, along with comprehensive multi-disciplinary research.
Over the coming year, a program of consultations and events will inform the Primers, disseminate their findings, raise awareness, and catalyze engagement in the application of their recommendations.
Join the Engagement Hub to read and contribute to these essential blueprints to help key actors engage with and help accelerate the emerging fourth sector of the economy.
What kind of "post-COVID-19 economy" do we want? Every actor in society can take important steps to accelerate this emerging purpose-first economy to respond to the COVID-19 crisis and build back better.
Fourth sector development offers tremendous opportunity to spur economic activity that builds back better.
for entrepreneurs, organizations and technical assistance providers to develop and expand into new markets, customer-bases and supply chains.
The public sector will benefit from the new revenues generated by this sector as well as from the cost savings created by reduced social and environmental problems and the creation of quality jobs and economic growth.
The non-profit sector also benefits; new contracting and partnership opportunities with mission aligned for-benefits, and increased philanthropic resources.
A more robust fourth sector would provide a better institutional home for industries whose product or service is inherently a public good — such as healthcare, journalism, mass transit, infrastructure, utilities, energy, education, and banking.
Here are some organizations and initiatives who are using 'fourth sector thinking' and approaches to respond to the COVID crisis and build a better, more resilient, inclusive, and sustainable economy.
"… no “charitable” intervention can solve any of these issues. It can only kick the can down the road. It’s time for a new operating system. Not a 2.0 or a 3.0, but something built from the ground up. New code.”
– Peter Buffett,
Chairman of Novo Foundation
A systemic change requires that all stakeholders engage and leverage their strengths to make an impact. If you are committed to building a better economic system, there are many ways in which you can support. How would you like to participate?
“Today, more than ever, the world needs to be able to reimagine a new future. A future in which people can feel safe and protected. The initiative being set in motion by Leaders on Purpose is an effort toward defining the new environment. It provides a much-needed aspirational framework – one which has the power to change the language of business discourse and how we regard the future. The philosophy of Leaders on Purpose resonates deeply with Mahindra’s vision and has the potential to become a movement which will define the future for generations to come.”
MAKE AN IMPACT.
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Before the pandemic, many of organizations and individuals were already working together to develop the tools and resources necessary to support intentional growth of the fourth sector, working across the Fourth Sector Group platform on a variety of initiatives and issue areas focused on six key, strategic priorities:
6. Mobilize Resources
Enhance knowledge and raise awareness about for-benefit
enterprises and the fourth sector.
Develop more enabling policy and regulatory
environments for the fourth sector.
Promote new business and investment models that are
aligned with for-benefit enterprises.
Increase educational and training opportunities for fourth
sector practitioners and leaders.
Develop local and regional hubs to foster collaboration and
accelerate fourth sector development in communities.
Participants are encouraged to think BIG and outside-the-box. Looking through a fourth sector lens, they can leverage the decades of innovations that have been growing at the intersection of the traditional sectors to imagine and create a better economy for all.
Learn more about the emerging fourth sector here.