In a piece in Worth Magazine, CSB Director Tensie Whelan reflects on Business Roundtable's recent announcement regarding a new focus on value for all stakeholders, not just shareholders. The 200 executives who signed onto the statement committed to five major aspects of good business practices including: delivering value to customers, supporting communities in which they work, and dealing fairly and ethically with suppliers.
Excerpt: "A statement of purpose is just that, a statement. How will we know if this commitment is real? Look for lower executive compensation tied to ESG and financial performance, far fewer share buybacks, better pay, benefits and working conditions for employees, sustainability embedded into company strategy rather than a siloed CSR exercise, diverse board members with substantive ESG credentials and aggressive sustainability targets supported by stakeholders and third party assessment and reporting. I could go on, but you get the idea."
Click here to read the full Worth article.
Tensie Whelan Responds to Business Roundtable Statement on Creating Value
Thursday, August 22, 2019