Following the Business Roundtable Statement
Date: September 5, 2019
Chief Executives for Corporate Purpose (CECP) congratulates the companies that took a bold step to sign on to the Businesses Roundtable (BRT) statement. We are proud of the progress CECP companies have made since our founding 20 years ago and see the statement as the next step in advancing business as a force for good.
CECP is focused on supporting its companies on the statement’s commitments:
- Investors: Through our Strategic Investor Initiative, 30 corporate CEOs have presented their Long-Term Plans, focused on material growth, strategy, and risk, 3-5 years out, which research has shown to move markets.
- Community: Through a lens of diversity, equity, inclusion, impact, and data—as the unrivaled leader in benchmarking on corporate social investment, CECP helps companies determine the connection between their skills and resources and where they can best meet society’s needs.
- Employees: Focusing on employee-passion-driven strategies, storytelling, and purpose, we are examining with companies what employees need to thrive.
CECP is pleased to work with the BRT to help take this important leap forward in understanding that the imperative of the 21st century is to recognize that the purpose of corporations is to create value in ways that benefit its multiple stakeholders.
We applaud the companies that signed on to the BRT statement and look forward to engaging them more deeply with CECP; we invite the CEOs of those companies to join us for CECP’s 15th annual Board of Boards on February 24, 2020 in NYC and work with us to support their commitments to bring the statement to life.
Read more about the BRT news, here:
- Group of US corporate leaders ditches shareholder-first mantra (Financial Times)
- America’s CEOs Seek a New Purpose for the Corporation (Fortune)
- Shareholder Value Is No Longer Everything, Top C.E.O.s Say (New York Times)
- How Shareholder Democracy Failed the People (New York Times)
- 181 Top CEOs Have Realized Companies Need a Purpose Beyond Profit (Harvard Business Review)
- Move Over, Shareholders: Top CEOs Say Companies Have Obligations to Society (Wall Street Journal)
- Save Capitalism by Paying People More (op-ed by Tom Wilson, Allstate CEO; New York Times)
- Companies under pressure to declare ‘social purpose’ (Financial Times)