The V20 (Values 20) initiative is focused on integrating ethical values into policy decisions and discussions around sustainable development. It aims to shape a future where no one is left behind. The initiative, especially during South Africa’s G20 Presidency, is organised into three task forces, reflecting its core themes: solidarity, sustainable development, and equality. It seeks to provide G20 stakeholders with a contextual, nuanced, and focused range of actions for values-driven policy development.

Values are seen as ideals, beliefs, and overall conceptions that a group or individual holds in high regard. They inform what is considered right or wrong within a particular culture. Values are critical for building a cohesive society that works towards the well-being of all, fighting exclusion and marginalisation. They foster a sense of belonging, promote trust, and encourage collective action to face shared challenges. As Professor Bonang Mohale states, values are like a “lighthouse” or the “North Star,” guiding difficult decisions and ensuring that ethical principles are deeply embedded in an organisation’s psyche, not just written statements.

Current global challenges, including economic shifts and new models of collaboration, are challenging traditional ways of doing business and governance. There’s a perceived disconnect where expediency often takes precedence over integrity, leading to corporate scandals and political issues. This highlights the need for genuine values-led leadership. Businesses are now expected to publicly declare and adhere to their values, bearing equal responsibility with social partners to drive positive change. The discussion suggests that legislative approaches to enforcing integrity have failed, underscoring that true ethical behaviour stems from a collective mindset and adherence to principles rather than mere compliance.

Professor Mervyn King argues against the 20th-century notion of “primacy of the shareholder,” where success was solely measured by share price, dividends, and profit. He asserts that shareholders do not possess the attributes of ownership (e.g., being able to physically interact with company assets). Companies are legal fictions created by society for society, primarily to raise capital and create jobs. Directors, therefore, should act as “guardians” of the company’s assets and business affairs, steering it with effectiveness, efficiency, and integrity. Their role is to create “sustainable value” that does not negatively impact society or the environment. This means considering the long-term best interests of all stakeholders, not just shareholders.

The disconnect stems from the lived experiences of young people, particularly in regions marked by rampant inequality, lack of inclusivity, conflict, unemployment, and poverty. While constitutional democracies and educational curricula may promote human rights, dignity, and good citizenship, the daily realities of squalor and injustice create a stark contrast. Leaders often fail to “walk the talk,” undermining trust. Bridging this gap requires leaders in government, business, and civil society to actively address inequality and inclusivity. It’s about demonstrating ethical conduct through actions, not just words, and addressing the root causes of societal ills.

Education is crucial for teaching young people about citizenship, right and wrong, and critical thinking regarding information. However, teaching these values becomes challenging when they contradict lived experiences. The advent of artificial intelligence (AI) further complicates this by amplifying misinformation and lies, making it harder for young people to discern reality. Therefore, educating young people about “digital citizenship” is increasingly important, equipping them to navigate information landscapes and understand how exposure shapes their opinions and behaviours. The aim is to bridge the gap between taught values and observed realities.

Professor Mervyn King strongly asserts that integrity cannot be legislated because it is a “state of mind.” Laws like the Sarbanes-Oxley Act in America or the Public Finance Management Act in South Africa have not effectively stopped corruption or unethical behaviour, as they cannot enforce a person’s inner conviction to act honestly. Instead, the alternative is a principles-based approach, where boards and leaders internalise and act as the “heart, mind, and conscience” of the company. This means collectively deciding on the business’s purpose and making decisions in the long-term best interest of the company and all its stakeholders, driven by a mindful application of principles rather than mindless box-ticking.

Individuals have a crucial role in promoting a values-led society, rather than solely relying on government or big business. As “transient caretakers” of the planet, everyone has a moral duty to ensure sustainable development for future generations. This involves actively practising social justice, fairness, and ethical values in homes and personal spheres of influence. Dr. Sizwe Nxasana and Dr. Preeya Daya emphasise that living values is a “human issue” and a “behavioral issue.” It starts with individual accountability for one’s actions, how one treats others, and how one “shows up.” By collectively living values, individuals contribute to creating a society where values are prevalent, advocating for the marginalised, and taking ownership of positive change.