Jericho Notices - August 2020
August has been an unexpectedly busy month. The thoughtfulness of the inaugural Jericho Conversations – determined to find practical ways to Build Back Better – has accelerated and deepened. This edition of Jericho Notices updates on what’s been happening and what’s coming up. It’s a bit of a long one (apologies), but then quite a lot has been going on…
Health
The first roundtable in a series on Public Health: In The Right Place?, convened on behalf of Assura PLC and CEO Jonathan Murphy, considered the limitations of the current systems in understanding and embracing truly patient-centric and community-driven care. It was possibly the most impassioned of all Conversations to date (you can read Matthew Gwyther’s write-up here), fuelled no doubt by our personal and collective experiences of healthcare amid the COVID crisis. Follow-up discussions are scheduled for September and October – with a report and recommendations from the community due later in the autumn.
"We must invest in and support social infrastructure in the same way we do physical infrastructure. We’ve seen during the crisis the rapid and effective way established local networks, organisations and community assets have responded. We think this has shown we don’t need to design new institutions to solve the complex social, economic and environmental problems we face. Instead, policymakers need to invest in and nurture an old idea whose time is now: the power of community."
Public Health: In The Right Place? Roundtable Contributor
Tax
Never in the past five years – since we launched the global Responsible Tax project with KPMG – has tax been such a popular/ mainstream topic of conversation. Who Pays & How? was the fourth Jericho Conversation – and KPMG’s Chris Morgan has since led a series of worldwide expert discussion groups on subjects ranging from understanding the stimulus measures required to kickstart an EU-wide recovery and the multinational perspective from Africa, Asia and the Pacific, to institutional investors’ take on a green recovery. The summary articles offer essential reading on post-lockdown economics, even for the non-tax geeks among us.
"The best tax stimulus measure is likely to involve increasing the cash in the hands of the consumers who are most likely to spend it rather than save"
Global Responsible Tax Roundtable Contributor
Technology
The role of technology – and the sometimes pantomime-baddy behaviour of Big Tech. in particular – was another recurrent theme during the Jericho Conversations. The first of four discussion roundtables, in partnership with investment bank Stifel and Europe CEO, Eithne O’Leary, explored the world of FinTech and posed the question – are we regulating humans or systems? Where does both agency and responsibility lie? You can read more here.
Please get in touch if you would like to be involved in the September roundtables on Robotics, AI and New Regulatory Frameworks in tech. Part of the “Ethics of Disruption” programme.
Youth
"Watch out, young people. Work is about to get a whole lot worse"
Bruce Daisley
Jericho Conversation: Good Work, Mental Health & Workplace Wellbeing
We received a lot of feedback about the need to give voice and platform to young people on all of the issues raised in Conversations. So, next month sees the launch of a series of focused conversations bringing together the great & the good with youth leaders and youth groups across the country.
Our Future Voice Now, supported and convened on behalf of Barclays and its Life Skills initiative, will concentrate initially on jobs; skills & training; mental health & wellbeing. Report and Recommendations are scheduled for mid-November. Again, please get in touch if you would like to be involved.
Race
Of all the current conversations strands, “race” is probably the most uncomfortable and yet most vital. Understanding why Black Lives really Matter should be the first priority of all business leaders: a moral imperative that no company or CEO should ignore.
Jericho has teamed up with Mandeep Heer, former Director of People Strategy & Transformation at Telefonica O2, to offer support and guidance for CEOs and their Executive Teams in a safe environment, to help them better understand the case for change; what the experiences of BAME employees really looks like; and to invite open questions so that we can all take the first step to really understanding why this topic makes so many of us feel so uncomfortable. It is a challenging and understandably hugely sensitive project, but one that we are determined to tackle.
We cannot go any way to building back better if we fail to understand, embrace and action the needs and concerns of our BAME communities. Read more from Mandeep here.
Heritage - and Energy
Look out in mid-September for a new publication from Jericho: Our Heritage 2040. The idea for this project, supported by Sizewell C but retaining complete editorial independence, was developed by the Sizewell Community Working Group – local residents and employers in the Suffolk Coastal area thinking optimistically about “what next?” for this very special region; its Areas of Outstanding Natural Beauty; and how to work collaboratively with the energy sector towards a Net Zero Carbon Future.
As the idea has developed, exciting new ideas have emerged around energy innovation and investment – together with big, audacious thinking to support Britain’s first Wild National Park County and a new Culture & Creative Hub in the East, alongside the opportunity for major green regeneration projects in Lowestoft. The publication will be the focus of an October discussion series on energy and climate; tourism and heritage; employment and skills.
"It’s our hope that the Heritage Coast leads the way in positive lifestyle changes and net-zero thinking … this publication captures what is best about the Heritage Coast – its history and delight – and explores big ideas for a shared future. It is co-authored by a mix of expert specialists, campaigners, business leaders, policymakers and local residents."
Dr Andy Wood, CEO, Adnams
And Finally, This Is Not A Recession...
There are still more conversations to come and more content to explore! The Investing in Society programme, convened on behalf of Federated Hermes, re-starts in mid-September, with a roundtable led by Lord Maurice Glasman and Professor Alex Edmans. The COVID crisis has thrown into sharp relief some of the failures of the current model of capitalism, including the role the asset management industry plays within the system. “Too often firms shelter behind giving a compliant nod to ESG considerations as enough to deliver a prosperous economy which benefits all of society. What needs to change – and how can the asset management industry play a meaningful role in capitalism’s re-set?”. More from us on this in due course…If you are not exhausted by all the reading, stick your headphones on and listen the latest Jericho Conversations podcasts: Stifel Europe CEO Eithne O’Leary on Fear & Disruption, Banking & Brexit; Bruce Daisley on Life after Twitter and The Joy of Work; and Dark Matter Labs founder, Indy Johar, on why This Is Not A Recession.
To keep up to date with regular programme updates from Jericho, follow us on LinkedIn.
As ever, thank you for being part of the Jericho community and please stay in touch. If you would like to find out more about working with Jericho, please drop me a line.
Keep well. Stay safe.
Robert Phillips
Founder, Jericho Chambers
August 21 2020
