Purpose Beyond Profit: Where Next for Business?
Wednesday 26 February 2020
17 Oval Way
London SE11 5RR
The belief that the sole responsibility of business is to maximise profits for shareholders is losing favour. Shareholder primacy is under scrutiny for increased environmental destruction, poor labour conditions and growing inequality. The Financial Times is calling for a 'reset' of capitalism and says "the way our economic and political systems work must change, or they will perish.” Meanwhile in the US, an association of leading chief executives, the Business Roundtable, announced plans to move away from a singular focus on shareholders' interests and instead "deliver value” to all stakeholders, including consumers and wider society.
What does delivering value look like in practice, and is voluntary action enough? Is it possible to balance purpose with profitability in a meaningful way, and what alternative models exist?
This event will bring together commentators and practitioners from across business and economics to debate the future of business and what action is needed.
We will be joined for an interactive panel discussion by renegade economist Kate Raworth, the Financial Times’ European Economics Commentator Martin Sandbu and two businesses voices, to be confirmed. Oxfam GB CEO Danny Sriskandarajah will chair.
For more information and to reserve your seat, please register here.
Please be aware that spaces for the event are limited.
Since 1 January 2020 the average FTSE 100 CEO has earned:
Income inequality in the UK
Wealth inequality in the UK
- HPC/CIPD Annual FTSE 100 CEO Pay Review - CEO pay flat in 2019
Median FTSE 100 CEO pay stands at £3.6 million - almost 120 times the average UK worker - but pandemic pay cuts could mean figure falls next year
- Blog: To ‘build back better’, we must tackle executive pay
New research has revealed how much CEOs earn compared to their colleagues – and the results aren’t pretty.
- Blog: COVID19 and corporate resilience
The pandemic is highlighting the deep flaws in the UK’s corporate governance system. Will this prompt listed companies to rethink their priorities? - A blog by Rachel Kay, a researcher at the High Pay Centre