The New York Times York The New in association with in association 2020 SUMMARY REPORT Athens Democracy Forum 2020 Democracy Forum Athens The New Abnormal: Reimagining Democracy athensdemocracyforum.comathensdemocracyforum.com athensdemocracyforum.com The New Abnormal: Reimagining Democracy 2020 SUMMARY REPORT 1 athensdemocracyforum.com BESPOKE PANEL DISCUSSION “BUSINESS FOR PURPOSE” ROUNDTABLE Sponsored by Mishcon de Reya and National Bank of Greece Valerie Keller, Co-Founder and C.E.O., IMAGINE Alexander Rhodes, Head of Mishcon Purpose, Mishcon de Reya Costas Michaelides, Chairman of the Board, National Bank of Greece Mete Coban MBE, Founder and Chief Executive, My Life My Say Moderated by Alison Smale, Journalist and Former Under Secretary General for Global Communications, United Nations Alison Smale opened proceedings by reinforcing that what we need at this time is togetherness, a theme that would feature prominently over the duration of the Forum. Valerie Keller stated that the purpose of business espoused by Milton Friedman has not worked very well, and outlined the transition from the purpose of business being shareholder profits to serving broader society, using multistakeholder, long-term models that help to solve global challenges by putting the Sustainable Development Goals at their heart. It is not enough for a company to say that it is purpose driven, she said, warning that even Hitler had a purpose. She outlined her view that we no longer need purpose-driven businesses that are generally not doing harm, instead proposing a new frontier, whereby companies put solving societal challenges at the core of their business models and work across their value chains to change the whole sector. Reiterating Ms. Smale’s opening comments, she stated that companies are asking what they can do together that they cannot do alone. Costas Michaelides affirmed his agreement, stating that when the right purpose combines with the right blend of passions and talents it can create an inspiring driving force. He underlined the importance of incorporating modern values and respecting the values of the past to drive duty, leadership and transformation. Discussing his bank’s transformation over the last two years, he expressed his belief that this process helped to prepare the organization in adjusting to new realities when Covid-19 arrived, which, in many ways, acted as a catalyst and an accelerator. He also reinforced the importance of strong alignment between purpose and the 3 company culture and values. The organization has to keep changing, he said, and it is important to make sure that the embedding of new ideas and the incorporation of new thoughts is designed in a flexible way and that progress can be measured along the way. He hailed the bank’s transformation as a demonstration of democracy at work. Referencing the results of a recent opinion poll on social inclusion in London, Mete Coban placed a greater responsibility on business than on government, particularly the tech sector with its huge geographic and social reach. He outlined an initiative launched in his borough of Hackney – previously known as the most ‘ghetto’ borough but now home to London’s tech hub – to set metrics across various service areas of the council to fit in with an inclusive economy strategy, including apprenticeship initiatives offering incentives to those businesses employing a minimum of local people, adding that business massively benefits from having diversity and supporting inclusion. Ms. Keller reinforced that businesses do not exist beyond their operating environment, and business leaders can only do so much in terms of transforming the wider system. She stated that acting together with regulators as partners allows purpose-driven businesses to generate a smart enabling environment to create the right incentives. Joining virtually, Alexander Rhodes expressed his belief that purpose is not juxtaposed against profit, stating that it can be the animating force for business. He highlighted that the conceptualization of profit today is to solve problems for people and planet, and outlined a two-way shift towards making profits from doing good and away from making profits by causing harm. He argued that business can play a big part in solving these problems, but the legal enabling environment needs to be there. He made an important point around competition law to prevent anticompetitive behavior, which rubs up against the need for businesses to work together to solve sustainability issues. Ultimately, he said, it is a question of the approach that the authorities take, rather than what the law says itself. He demonstrated this with the example of the EU, which earlier this year stated that it will exercise all of its functions in a way that supports companies working together to transition to a low-carbon economy. Mr. Coban warned of the danger of getting too wrapped up in our own bubbles and echo chambers, reminding us that right at the heart of this we are dealing with athensdemocracyforum.com people, and our ultimate aim is to live in a more inclusive society that benefits more people. He stated that Covid has amplified the inequalities in our society, but it also represents an opportunity to redefine it. He also highlighted the trend among the younger demographic toward ethical consumption and using their purchasing power to align with brands that reflect their own values. Responding to this, Ms. Keller stated that we do not have time for the younger generation to wake up and take control. She agreed that a consciousness shift has been accelerated by Covid, and the system has to change. Ultimately, we are the system, she pleaded. Mr. Rhodes picked up on Mr. Coban’s point about what Covid has taught us about our ability to adapt. He reaffirmed that we have learned a great deal about the inequalities and fragilities in our world, but we have also learned about our capacity to act. Emphasizing stakeholders and the human element, he stated that, ultimately, we are all people. While the challenges are self-evident, he concluded, our ability to have a positive impact is clear, and real change can be driven. 5 athensdemocracyforum.com COUNCIL OF EUROPE AFFILIATED EVENT ON HUMAN RIGHTS, CLIMATE, MIGRATION Introduction by Achilles Tsaltas, President, Athens Democracy Forum Achilles Tsaltes stated that the word pandemic comes from the Greek word that literally means all the people. However, he warned, Covid-19 is not the only pandemic that is currently threatening the world and all its people, adding that climate change and migration shifts are also pandemics; afflictions that spread across the world and affect all people, everywhere. He stated that, in periods of pandemics, the individual tends to acquire a lesser significance compared to the totality of society. He explained that individual rights and human rights tend to retreat in the face of often forced actions taking the name of collective will and the name of collective well-being. He stated that, in this framework, democracies must tread a fine line between authoritarian actions and human and individual dignity, adding that governments, institutions and people must work together to ensure that this fine line is not crossed. Mr. Tsaltas described the partnership between the Athens Democracy Forum and the Council of Europe this year, which is designed to augment the role of human rights, and explore how climate change and migration – and now Covid – will be confronted. After outlining the Council of Europe affiliated events that will follow, he thanked Secretary General Pejinovi Buri for her attendance in person in Athens and for the support of the Council of Europe, stating his hopes for similar collaborations for many years to come, and that the solutions from this Forum will reverberate in Strasbourg and its Democracy forum in November. He added that it is serendipitous that the Athens Democracy Forum is taking place under the Greek chairmanship of the Council of Europe in such transformational times, adding that the spirit of ancient and contemporary Athens can help us to reimagine democracy. 7 COUNCIL OF EUROPE OPENING KEYNOTE ADDRESS THE CONSCIENCE OF EUROPE Marija Pejčinović Burić, Secretary General, Council of Europe Marija Pejčinović Burić stated that the pandemic must not stop us in our efforts to protect democracy and to promote our common values, as some of the risks we were already witnessing have been exacerbated by the virus and the way governments have responded. She reminded delegates that 2020 is the 70th anniversary of the European Convention on Human Rights, declaring the founding of the Council of Europe in 1949 and the Convention a year later as a response to the horrors of the Second World War as one of Europe’s greatest achievements, but warned that we may be losing sight of this historic achievement and its continuing relevance today. Ms. Pejčinovič Burić highlighted the Council of Europe’s myriad achievements up to the end of the last millennium, including its enlargement following the fall of the Berlin Wall and more than 20,000 judgements implemented by the European Court of Human Rights in Strasbourg and 223 legally binding conventions to improve people’s rights across the continent. She commented that Europe’s institutions were confident, forward-looking and largely undisputed during that period, but cautioned that we are seeing backtracking, as well as the resurgence of racism, intolerance and anti-Semitism. Warning that the cumulative effect of these dangerous trends is of great concern to the 47-state Council and threatens the foundations on which postwar Europe was built, she stated that we cannot take our freedoms for granted, adding that we must reinforce and reinvigorate them. She commented that just as there is no single cause of the backlash, there is no simple fix like a tweet or naming and shaming.