As the “Fourth Estate” journalism has key role to play in advancing the fourth sector and create awareness of its potential to create prosperity around the world. Although the fourth sector has been emerging for decades, there is not enough accessible global information on the sector.
As the number of print, online, radio, and television reports on fourth sector businesses multiply, the public will become more aware of it as a distinct sector of the economy. A better-informed public could spur economic activity that accelerates growth of the sector — using private capital to solve challenges we are facing and build back better.
Similarly, as private citizens become more familiar with the standards, processes, and management structures of the fourth sector, the public will become better equipped to support the sector, and for-benefits will also become more accountable to their social or environmental purpose.
Specific actions that media, journalists, and communications experts can take to enhance the space for the fourth sector are as follows:
1. Chronicling the emergence and growth of the fourth sector, highlighting stories about for-benefits and the barriers that limit the realization of their potential.
2. Develop media and communications storytelling training programs on the fourth sector and for-benefit enterprises.
3. Leverage their expertise to provide communications trainings to for-benefit organizations to help them to better tell their stories.
4. Advance social media campaigns about the fourth sector and its capacity to provide scalable solutions to global challenges.
5. Launch for-benefit media.