The recent Business Roundtable (BRT), which includes CEO’s of some of the largest companies in America, revised their definition of the purpose of a corporation. The revised purpose statement, signed by 181 of their members, has focused more attention on ESG, environmental, social and governance issues. For the first time in the history of BRT,… [Read More]
ESG and the “New” Business Purpose
ESG, not a cooking spice, is at the heart of a new business model. In fact, ESG (Environmental, Social, Governance) is at the core of this August’s Business Roundtable (“Roundtable”) new statement of business that redefines the purpose of a corporation to promote “an economy that serves all Americans.” This new purpose was briefly discussed… [Read More]
Purpose or Profits? Can we have both?
Milton Friedman, the 1970’s Nobel economist stated that “… there is only one social responsibility of a business, to engage in activities designed to increase its profits.” And for over 47 years, the Business Roundtable (“Roundtable”), an association of CEOs of 193 companies with over $7 trillion in revenue and almost 15 million employees, followed… [Read More]