As reported by The New York Times, on Monday this week, nearly 200 CEOs in the US, including the leaders of Apple, Pepsi and Walmart, have tried to redefine the role of business in society — and how companies are perceived by an increasingly skeptical public.
Breaking with decades of long-held corporate orthodoxy, the Business Roundtable issued a statement on “the purpose of a corporation,” arguing that companies should no longer advance only the interests of shareholders. Instead, the group said, they must also invest in their employees, protect the environment and deal fairly and ethically with their suppliers.
Imagine! Hopefully Australian companies follow suit, just as our stock market follows Wall Street.
Read the full Times story here.
