Abstract
<jats:title>Abstract</jats:title> <jats:p>How can and should social purpose be effectively governed? Most policies to date have revolved around regulation and reporting. This chapter argues that these initiatives have failed to bring sufficient clarity to their objectives and have, as a result, been confused and inconsistent, and risk failing to promote social purpose. Instead, the chapter puts forward a precise and practical definition of corporate social purpose which can be effectively implemented, not just by charities, not-for-profits, social and public enterprises, but by private corporations. It looks at the role of the boards of corporations in creating and adhering to social purpose and it offers an approach to support boards in implementing this.</jats:p> <jats:p>The premise of the argument is that social purpose can be good business that delivers financial value as well as social values from solving twenty-first century problems. As a result, it can be scaled at speed to a level that has not been recognized to date.</jats:p>