Post by sweetpea33 on Jan 25, 2024 0:51:36 GMT -5
The CEOs of three of the world’s biggest financial institutions address recent evolutions in capital markets to address environmental, social and governance issues. By Sara E. Murphy December 14, 2020 Fearless Girl statue facing Charging Bull in Lower Manhattan, New York City "The Fearless Girl" statue facing Charging Bull in Lower Manhattan, New York City (June 2017) Some of the world’s biggest asset managers have been talking a lot lately about sustainable capital markets, stakeholder capitalism and how improved environmental, social and governance (ESG) disclosure can contribute to more resilient markets.
Direction, their companies’ actual behavior in the marketplace often falls short of their leaders’ proclamations, and those leaders’ visions for Email List capital markets fail to rise to the increasingly urgent challenges that confront our society. At the recent 2020 Sustainability Accounting Standards Board (SASB) Symposium, the CEOs of Bank of America (BofA), BlackRock and State Street provided their views on the role of the private sector in addressing societal challenges and why ESG integration is no longer optional.
They led with their thoughts on stakeholder capitalism, a concept that has exploded since Aug. 19, 2019, when the Business Roundtable (BRT) updated its Principles of Corporate Governance to redefine "the purpose of a corporation to promote an economy that serves all Americans." CEOs from 181 publicly traded companies — including those addressing the SASB Symposium — signed the principles, which purportedly signaled an end to Milton Friedman’s doctrine of shareholder primacy established in the 1970s, and the beginning of a new era of stakeholder capitalism.
Direction, their companies’ actual behavior in the marketplace often falls short of their leaders’ proclamations, and those leaders’ visions for Email List capital markets fail to rise to the increasingly urgent challenges that confront our society. At the recent 2020 Sustainability Accounting Standards Board (SASB) Symposium, the CEOs of Bank of America (BofA), BlackRock and State Street provided their views on the role of the private sector in addressing societal challenges and why ESG integration is no longer optional.
They led with their thoughts on stakeholder capitalism, a concept that has exploded since Aug. 19, 2019, when the Business Roundtable (BRT) updated its Principles of Corporate Governance to redefine "the purpose of a corporation to promote an economy that serves all Americans." CEOs from 181 publicly traded companies — including those addressing the SASB Symposium — signed the principles, which purportedly signaled an end to Milton Friedman’s doctrine of shareholder primacy established in the 1970s, and the beginning of a new era of stakeholder capitalism.