Welcome to ethBeats, Lessons for G.R.A.C.E.ful Living, the podcast of the ethBe platform.
What do we mean by the acronym G.R.A.C.E. in G.R.A.C.E.ful living?
"G" stands for Governance, the overarching concept of controls and standards to govern relationships in a system, whether it is a business, a partnership, a company, a nonprofit or government organisation. Relationships between and among different stakeholders.
Part of Governance relates to Risk, the "R" in G.R.A.C.E., and in the digital age of fast paced life, how does an organisation manage the different types of risk?
A key component of risk for organisations relates to Anti-money laundering; in this age of digital financial transactions, new risks arising from fintech innovation - this is the "A" in G.R.A.C.E.
So a robust compliance framework and system is critical in safeguarding stakeholders’ interests in any organisation. So, the "C" in G.R.A.C.E. stands for Compliance.
We come to “E”. There are 2 meanings of “E” for us. As professionals in different areas, we know that business dealings can be complicated and often it’s hard to see things in black and white, right and wrong terms. Thus, one key concept underlying Governance is Ethics, and Ethics is core to this podcast.
The second meaning of "E" is something that connects all of us, regardless of class, race, gender or religion. The world grapples with climate change and the environmental impact on livelihoods around the world - so "E" stands for Environment and Social in the ESG framework.
Our podcasts will follow the iterations of GRACE. In the next podcast, we welcome our guest to talk about governance, so please do join us.
ethBeats is a podcast of the ethBe platform, supported by RHT GRACE Institute, a nonprofit organisation. We welcome you to be part of the ethBe community here: https://ethbe.org. If you’d like to be a guest or to nominate someone on our podcast, please do contact us at ethbeats.podcast@gmail.com
Until the next time, stay healthy, stay positive.