Paris 2024 Olympics: Social Business Guru Mohammed Yunus Advises City on Embracing Socially Responsible Business Practices
Nobel Peace Prize Winner Mohammed Yunus Advises Paris on Socially Responsible Olympics
Paris, known for its history, creativity, and grandeur, is gearing up to host the 2024 Olympics with a unique twist: a focus on socially responsible business practices. At the forefront of this movement is Nobel peace prize winner and social business guru Mohammed Yunus.
Yunus, renowned for pioneering microcredit in Bangladesh in the 1970s, has been advising Paris on how to use the power of the Olympics to spread a message of social purpose and humanity. Despite not being a sports fan himself, Yunus saw an opportunity to influence the city’s approach to the Games after a dinner invitation from Paris’s mayor in 2016.
His advice to the city? Before allocating funds, ask if the project serves a social purpose. This philosophy has shaped Paris’s vision for the 33rd Summer Games, with a lower budget and environmental impact compared to previous editions.
One of the key initiatives Yunus pushed for was the development of the athletes’ village in one of the poorest parts of northern Paris. The village, consisting of low-rise buildings on a brownfield site, will be converted into social housing after the Games, showcasing a commitment to long-term community impact.
Yunus also encouraged the inclusion of social businesses in public tenders for services like catering, leading to partnerships between large corporations and socially minded companies. While global sponsors and construction giants still play a significant role in the Games, efforts to support small, socially responsible businesses have not gone unnoticed.
As Paris prepares to welcome the world for the 2024 Olympics, Yunus’s influence is evident in the city’s approach to hosting the Games. With plans to advise the host of the 2026 Winter Olympics in Milan-Cortina, Yunus continues to champion the importance of embracing new ways of doing business for the betterment of society.
