Higher Returns

Parsec Ventures CEO Richard Steel (OPM 45, 2014) has had a wide range of professional experiences, including everything from running both private and public companies to serving on nonprofit boards to advising the White House Business Council. Which means that he has spent a lot of time speaking with leaders in both business and government about the factors that are driving their organizations’ strategy. Over the last several years, there has been a dominant theme in those conversations: ESG. Environmental, Social, and Governance. And Steel wasn’t just hearing it, he was seeing it. At some point, it felt like he would see a new story every day about companies that were grappling with climate change, racial justice, or diversity and inclusion. He was watching a sea change take place. His recent book, Elevated Economics: How Conscious Consumers Will Fuel the Future of Business, is his effort to explain the implications of this watershed moment—and help readers understand what it takes to succeed in the new economy it has created.