September 2024 Corporate Diplomacy Global Leaders Program

Navigating the New Diplomatic Landscape: Corporate Diplomacy in a Changing World

The future of diplomacy depends on greater cooperation between the private sector, government, and civil society. Business leaders need deeper geopolitical insights, more robust networks, more diplomatic resources, and a platform to bridge gaps between business, government, and diplomatic leaders to make stronger decisions.

Meridian's Corporate Diplomacy Global Leaders Program equips leaders with a deeper understanding of the diplomatic strategies and geopolitical insights needed to succeed in a competitive business environment. Trade agreements, cyber vulnerabilities, hot and cold wars, and economic crises have all impacted the daily activities of businesses in every industry. The program equips leaders with the diplomatic expertise, insights, and networks needed to protect and advance business interests. These are the top takeaways from the September 2024 program.

What is Corporate Diplomacy?

Although this is a relatively new topic, stakeholders are increasingly recognizing the prevalent role that corporate diplomacy plays in foreign policy. Corporate diplomacy is an evolving discipline recognizing the importance of strategic relationships, effective communication, and responsible business practices. By embracing corporate diplomacy, organizations can navigate the complexities of the modern world, build trust with stakeholders, and contribute to a more sustainable and inclusive future. This is particularly significant as societal expectations and business interests intersect, and corporate diplomacy serves as a compass guiding companies toward ethical, impactful, and successful endeavors.​ In what is becoming an increasingly competitive and polarized world, the private sector can provide strategic continuity and deepen U.S. engagement.

How the Private Sector Engages with the United Nations General Assembly

This is a critical year for the United Nations with devastating humanitarian crises resulting from geopolitical conflicts in Gaza, Ukraine, and Sudan. Some other key topics of concern include the Global South struggling with debt, climate, and development needs; the risks and opportunities arising from new emerging technologies; and the growing belief that multilateral institutions are in need of reforms to make them more inclusive. The role of businesses has become increasingly important in this multi-stakeholder framework, as they are critical in providing private sector perspectives; building international and cross-sectoral partnerships; and helping map global trends. Furthermore, the private sector plays a significant role in helping achieve the UN’s Sustainable Development Goals, through the creation of new employment opportunities, building skills, spurring innovation, providing essential infrastructure, and supplying affordable goods and services.

International Trade as a Tool of Foreign Policy

In recent years, international trade has become a key element for addressing some of the most pertinent global challenges and opportunities, including the green energy transition, the rise of AI and the transition to a digital economy. This is reflective of how governments increasingly are using global commerce to achieve diplomatic or domestic political objectives. A key recent example of this is how the Biden Administration announced that it will impose a tariff rate of up to 100% on electric vehicles, 50% on solar cells, and 25% on electrical vehicle batteries from China. However, experts argue that these measures are mostly symbolic as the U.S. imports relatively few of the affected products from China. These measures have been criticized by the International Monetary Fund which argues that trade restrictions can fragment supply chains and provoke retaliatory measures, while also being inconsistent with U.S. obligations to the World Trade Organization. This raises concerns that the United States’ inconsistent adherence to established trade rules may set a precedent, encouraging other countries to follow suit and undermine the global trade system.

Preparing for Presidential Transitions

Few events have as great an impact on the U.S. and global business, economic and foreign policy landscape as a national election. Having a presidential transition plan is essential to ensuring that a company is ready to engage from day one with a new Administration, communicate strategic policies and issues, and be seen as a resource. An important first step is to identify how the top policies of leading candidates are likely to impact a corporation. It is also important to have an engagement plan and identify key campaign advisors and Congressional leaders that the corporation should engage with. Corporations must also preview the post-election political landscape and identify how it will impact the company’s actions. All this preparation is important to align the corporation’s policy agenda with the national interest and develop themes for senior leadership to engage with the incoming Administration and effectively present the company as a strategic resource and partner.

An Outlook into an Ever-changing Geopolitical Landscape

It is becoming increasingly clearer from international developments that we are transitioning into a new dynamic and complex geopolitical landscape. The U.S. continues to strengthen its alliances through platforms like the G7 and the Quad, countering growing Chinese influence, especially in the Global South. This competition extends into technology and economic spheres, where the U.S. is vying to maintain its lead against China’s growing technological capabilities and strategic partnerships with Russia. Geopolitical tensions in the Middle East are rising, with conflicts like the Israel-Hamas war raising concerns about broader regional instability, particularly as Israel intensifies its operations against Hezbollah in Southern Lebanon. Analysts are awaiting the results of the

Participants apply to attend a day-long program featuring engaging discussions, roundtable networking, and fireside chats with instructors on government engagement strategy, diplomatic protocol, and pressing geopolitical events.

 Apply or nominate a rising leader from your organization to participate in Meridian's Corporate Diplomacy Global Leaders Cohort program here. If you have any questions about the program, please email corporatediplomacy@meridian.org.